NYSE$DAY
Dayforce Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Ceridian delivered a strong quarter, driven by Dayforce recurring revenue growth and increased revenue and profitability outlook for Q4 and fiscal year 2023.
Ceridian reported a strong third quarter with total revenue of $377.5 million, up 19.6% year-over-year, and Dayforce recurring revenue growth of 34.6%. The company raised its revenue and profitability outlook for the fourth quarter and fiscal year 2023.
- Total revenue increased by 19.6% year-over-year to $377.5 million.
- Dayforce recurring revenue grew by 34.6% year-over-year to $279.6 million.
- Operating profit was $26.5 million, compared to an operating loss of $3.7 million in the prior year.
- Adjusted operating profit was $89.4 million, compared to $50.1 million in the prior year.
Headline financials
Revenue & EPS history
Dayforce · Revenue · Quarterly
$378M
Revenue by segment
Dayforce · $378M total across 4 segments · Q3 2023
- Dayforce recurring$280M+34.6%74.1%
- Professional services$52.1M+0.6%13.8%
- Powerpay recurring$24M+6.2%6.4%
- Other recurring$21.8M-34.7%5.8%
Forward guidance
Ceridian is issuing guidance for the fourth quarter and full year of 2023. For the fourth quarter, total revenue is expected to be $398 million to $401 million, and Dayforce recurring revenue, excluding float, is expected to be $255 million to $257 million. For the full year, total revenue is expected to be $1,512 million to $1,515 million, and Dayforce recurring revenue, excluding float, is expected to be $962 million to $964 million.
Tailwinds
- Total revenue of $398 million to $401 million, an increase of 18% to 19% on a GAAP and a constant currency basis.
- Dayforce recurring revenue, excluding float, of $255 million to $257 million, an increase of 29% to 30% on a GAAP and a constant currency basis.
- Tax migration from legacy infrastructure to the same platform as Dayforce is expected to contribute approximately 430 basis points of growth.
- Float revenue of $39 million.
- Adjusted EBITDA of $97 million to $99 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q3 2023
-1.1%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+0.4%
Avg return
30 days after
42%
14 / 33 earnings
Positive
+17.4%
Q2 2022
Best reaction
-15.4%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.0% | +0.2% | +1.1% | |
| Q2 2025 | +0.5% | -6.0% | +29.9% | |
| Q1 2025 | -5.9% | +2.7% | +4.1% | |
| Q4 2024 | -8.0% | -8.4% | -22.8% | |
| Q3 2024 | +8.9% | +15.6% | +22.4% | |
| Q2 2024 | +5.4% | -1.4% | +6.4% | |
| Q1 2024 | -5.9% | -5.3% | -19.4% | |
| Q4 2023 | -1.8% | +2.1% | -6.2% | |
| Q3 2023 | +4.8% | +2.0% | +7.7% | |
| Q2 2023 | +1.5% | +4.0% | +3.7% | |
| Q1 2023 | -9.9% | -7.6% | +2.3% | |
| Q4 2022 | +3.6% | +3.4% | -9.5% | |
| Q3 2022 | -3.1% | -12.3% | +6.4% | |
| Q2 2022 | +17.4% | +19.3% | +5.0% | |
| Q1 2022 | -1.2% | -4.0% | -3.6% | |
| Q4 2021 | -0.6% | -9.5% | -20.6% | |
| Q3 2021 | -6.7% | — | — | |
| Q2 2021 | +1.2% | — | — | |
| Q1 2021 | -1.1% | — | — | |
| Q4 2020 | -10.8% | — | — | |
| Q3 2020 | +2.3% | — | — | |
| Q2 2020 | -9.6% | — | — | |
| Q1 2020 | +7.4% | — | — | |
| Q4 2019 | -15.4% | — | — | |
| Q3 2019 | +9.6% | — | — | |
| Q2 2019 | +2.3% | — | — | |
| Q1 2019 | -6.9% | — | — | |
| Q4 2018 | -0.3% | — | — | |
| Q3 2018 | +0.2% | — | — | |
| Q3 2017 | +0.2% | — | — | |
| Q2 2018 | -10.0% | — | — | |
| Q4 2017 | -1.1% | — | — | |
| Q1 2018 | -3.4% | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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