Ceridian Hcm ( (DAY) ) has realeased its Q3 earnings. Here is a breakdown of the information Ceridian Hcm presented to its investors.
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Dayforce, Inc., a prominent player in the human capital management (HCM) technology sector, provides a comprehensive global platform to streamline HR, Pay, Time, Talent, and Analytics operations for businesses worldwide.
Dayforce reported a strong financial performance for the third quarter of 2024, with total revenue reaching $440 million, marking a 17% increase year-over-year. The company’s recurring revenue from its Dayforce platform grew by 19% to $333.2 million, showcasing robust demand for its solutions.
Key financial highlights include an adjusted EBITDA of $126.1 million, up from $107.2 million in the previous year, and a notable rise in net cash from operating activities by 54% year-to-date. The company also executed a $30 million share repurchase under its ongoing $500 million program, signaling confidence in its business model. Additionally, Dayforce achieved recognition in various industry accolades, enhancing its reputation as a leader in HCM solutions.
Looking forward, Dayforce anticipates continued growth, providing guidance for the full year 2024 with revenue expected to increase by 15% to 16% and adjusted EBITDA margins projected to exceed 31% in 2025. The company remains optimistic about its strategic initiatives and aims to capitalize on opportunities for further expansion in the HCM market.
