Paycor Reports Q4 Revenue Beat, Provides Guidance

Paycor HCM, Inc. (NASDAQ:PYCR) reported its Q4 results, with EPS of ($0.14) coming in worse than the Street estimate of $0.02. Revenue was $111 million, compared to the Street estimate of $103.47 million.

The company expects Q1/23 revenue to be in the range of $112-114 million. For the full 2023-year, the company anticipates revenue in the range of $510-516 million.

According to the analysts at Deutsche Bank, Q4 performance was fairly broad-based with continued traction in Tier 1 markets, improvement in PEPM, and steady growth in employment levels with existing customers. From a macro perspective, the company noted that thus far it is seeing no impact, in line with commentary from other payroll vendors, and guidance assumes no meaningful change from the current demand environment.