Dayforce Swings To Profit In Q3

(RTTNews) - Dayforce, Inc. (DAY, DAY.TO), Wednesday reported third-quarter net income of $2.0 million or $0.01 per share, compared to net loss of $3.8 million or $0.02 per share last year.

Adjusted income per share was $0.47, compared to $0.37. Analysts polled by Thomson Reuters expected earnings of $0.43 per share.

Revenues for the quarter were $440.0 million, compared to $377.5 million last year. Analysts had a consensus revenue estimate of $428.31 million for the quarter.

CEO David Ossip said: "Dayforce recurring revenue grew 19% year-over-year, and year-to-date cash flows from operating activities were up 54%, underscoring our ability to both grow and generate profits at scale. We continue to see organizations across the globe realize greater value as they simplify their people operations with the all-in-one Dayforce platform."

Looking forward, the company expects revenues of $452 million to $457 million and $1.747 billion to $1.752 billion for the fourth quarter and full year 2024, respectively. Analysts currently estimate revenues $458.02 million and $1.74 billion for the fourth quarter and full year, respectively.