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Dayforce (DAY) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

Dayforce (DAY) reported $431.5 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 16.4%. EPS of $0.43 for the same period compares to $0.31 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $426.15 million, representing a surprise of +1.26%. The company delivered an EPS surprise of -4.44%, with the consensus EPS estimate being $0.45.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Dayforce performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Total Cloud recurring: $363.20 million versus the four-analyst average estimate of $349.59 million. The reported number represents a year-over-year change of +23%.

  • Revenue- Professional services and other: $48.80 million compared to the $54.81 million average estimate based on four analysts. The reported number represents a change of -7.4% year over year.

  • Other recurring: $19.50 million versus the three-analyst average estimate of $21.45 million.

  • Revenue- Recurring: $382.70 million compared to the $370 million average estimate based on three analysts. The reported number represents a change of +20.4% year over year.

  • Revenue- Total Powerpay recurring: $26 million compared to the $25.56 million average estimate based on two analysts. The reported number represents a change of +7.9% year over year.

View all Key Company Metrics for Dayforce here>>>

Shares of Dayforce have returned -5.1% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research