Business Context and Reporting Period
Company: Automatic Data Processing, Inc. (ADP)
Filing Type: Form 8-K (Current Report)
Date of Report: April 29, 2020
Reporting Period: Third Quarter ended March 31, 2020
This filing announces the availability of financial results for the third quarter of fiscal 2020. The detailed earnings release is incorporated by reference as Exhibit 99.
Key Financial Metrics
The provided text does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are detailed in the attached earnings release (Exhibit 99) referenced in Item 2.02.
Material Changes and Guidance
- Withdrawal of Targets: ADP is withdrawing its three-year fiscal 2021 targets that were previously provided during the June 12, 2018 Investor Day.
- Future Guidance: The company expects to provide new guidance for fiscal 2021 upon reporting its fourth quarter fiscal 2020 earnings results.
- Comparison to Prior Period: The filing text does not provide specific comparative data or material changes versus the prior comparable period.
Management Commentary and Risks
Management commentary regarding the withdrawal of long-term targets is included in the prepared remarks accompanying the earnings release. The filing does not explicitly list specific risks, contingencies, or unusual items within the text of the 8-K itself, deferring to the attached earnings release for further details.
Investor Verification Checklist
- Review the attached Earnings Release (Exhibit 99) for specific Q3 2020 financial results (revenue, EPS, cash flow).
- Verify the rationale for withdrawing the fiscal 2021 targets in the management prepared remarks.
- Monitor the upcoming fourth quarter fiscal 2020 earnings report for new fiscal 2021 guidance.