CERIDIAN HCM HOLDING Reports Q2 FY2023 Earnings Results for June 30 2023
August 21, 2023
🌥️Earnings Overview
On August 2 2023, CERIDIAN HCM HOLDING ($NYSE:CDAY) released their Q2 FY2023 earnings results for the period ending June 30 2023. Total revenue for the quarter was up 21.5% year over year, totaling USD 365.9 million. Net income also increased dramatically, increasing 115.7% to USD 3.1 million.
Market Price
CERIDIAN HCM HOLDING reported their second quarter financial results for the fiscal year 2023 on Wednesday. The stock opened at $68.8 and closed at $67.0, representing a 4.9% decrease from its previous closing price of 70.5. Overall, the second quarter results reflect Ceridian’s ability to deliver strong financial performance despite a challenging global environment. The company’s cloud-based HCM offering appears to be gaining traction, and investors are likely to remain optimistic about the company’s prospects going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CDAY. More…
| Total Revenues | Net Income | Net Margin |
| 1.39k | -13.2 | -1.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CDAY. More…
| Operations | Investing | Financing |
| 186.9 | -75.3 | -1.06k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CDAY. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.12k | 5.88k | 14.4 |
Key Ratios Snapshot
Some of the financial key ratios for CDAY are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.3% | 6.1% | 4.5% |
| FCF Margin | ROE | ROA |
| 5.6% | 1.8% | 0.5% |
Analysis
After performing an analysis of CERIDIAN HCM HOLDING’s financials, GoodWhale has classified the company as a ‘cheetah’ according to the Star Chart. This indicates that the company has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Investors who are looking to invest in companies which exhibit high growth potential will likely be interested in CERIDIAN HCM HOLDING. The company is strong in growth potential, medium in asset quality, profitability, and weak in dividend. However, it should be noted that CERIDIAN HCM HOLDING has a low health score of 3/10 with regard to its cashflows and debt, and is therefore less likely to sustain future operations in times of crisis. More…
Peers
Workiva Inc, Weave Communications Inc, My Rewards International Ltd are all competitors in the same industry.
– Workiva Inc ($NYSE:WK)
Workiva Inc is a provider of cloud-based solutions for enterprise productivity. The company has a market cap of 3.82B as of 2022 and a Return on Equity of -224.13%. Workiva’s solutions are used by organizations to manage their financial reporting, compliance, and data management processes. The company’s products are used by over 3,000 customers in more than 100 countries. Workiva was founded in 2008 and is headquartered in Ames, Iowa.
– Weave Communications Inc ($NYSE:WEAV)
Weave Communications Inc is a US-based company that provides cloud-based communication solutions for small businesses. The company has a market capitalization of 395.09M as of 2022 and a return on equity of -35.73%. Weave Communications Inc’s products and services include VoIP phone systems, business texting, and CRM integration. The company serves customers in the United States, Canada, and Australia.
Summary
Ceridian HCM Holding reported its financial results for Q2 of FY2023 on August 2, showing notable growth. Total revenue for the quarter was USD 365.9 million, a 21.5% increase from the same period last year, and net income rose 115.7%. Despite the upbeat results, the stock price slipped on the same day.
Investors should look at the long-term prospects of the company and consider factors such as current market conditions, industry trends, and competitive dynamics before making any investment decisions. Ceridian HCM Holding’s demonstrated growth and potential for future success should be carefully evaluated when making any investing decisions.
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