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Ceridian Sees Q1 Sales $221M-$223M vs $226.97M Est., Sees FY20 Sales $903M-$908M vs $929.78M Est.

Company Guidance:   Full Year 2020: Dayforce revenue of $708 million to $713 million, or an increase of approximately 24% to 25% on both a GAAP basis and a constant currency basis. Excluding float revenue,

Benzinga · 02/05/2020 21:21

Company Guidance:

 

Full Year 2020:

  • Dayforce revenue of $708 million to $713 million, or an increase of approximately 24% to 25% on both a GAAP basis and a constant currency basis. Excluding float revenue, Dayforce revenue is expected to grow approximately 27% to 28% on both a GAAP basis and a constant currency basis.
  • Cloud revenue of $800 million to $805 million, or an increase of approximately 21% to 22% on both a GAAP basis and a constant currency basis. Excluding float revenue, Cloud revenue is expected to grow approximately 24% on a GAAP basis and approximately 24% to 25% on a constant currency basis.
  • Total revenue of $903 million to $908 million, or an increase of approximately 10% on both a GAAP basis and a constant currency basis. Excluding float revenue, total revenue is expected to grow approximately 12% to 13% on both a GAAP basis and a constant currency basis.
  • Float revenue of approximately $50 million within Dayforce revenue, $62 million within Cloud revenue, and $70 million within total revenue. Reflecting the reduction in interest rates during 2019, total expected 2020 float revenue of $70 million would represent a decline of $10 million, compared to 2019 float revenue.
  • Reflecting investments to drive future growth, including the Dayforce Wallet, acceleration in the enterprise segment, and global expansion, Adjusted EBITDA is expected to be $185 million to $190 million, or an increase of 0% to 3%. Excluding float revenue, Adjusted EBITDA is expected to grow approximately 10% to 15%.

First Quarter 2020:

  • Dayforce revenue of $166 million to $168 million, or an increase of approximately 25% to 27% on both a GAAP basis and a constant currency basis. Excluding float revenue, Dayforce revenue is expected to grow approximately 29% to 30% on both a GAAP basis and a constant currency basis.
  • Cloud revenue of $188 million to $190 million, or an increase of approximately 22% to 23% on both a GAAP basis and a constant currency basis. Excluding float revenue, Cloud revenue is expected to grow approximately 25% to 26% on a GAAP basis and 25% to 27% on a constant currency basis.
  • Total revenue of $221 million to $223 million, or an increase of approximately 8% to 9% on a GAAP basis, and 9% to 10% on a constant currency basis. Excluding float revenue, total revenue is expected to grow approximately 11% to 13% on a GAAP basis, and 12% to 13% on a constant currency basis.
  • Float revenue of approximately $15 million within Dayforce revenue, $18 million within Cloud revenue, and $21 million within total revenue.
    • Adjusted EBITDA of $47 million to $49 million, or a decline of approximately 2% to 6%. Excluding float revenue, Adjusted EBITDA is expected to grow approximately 2% to 10%.