Benzinga | Aug 4, 2021 05:46PM EDT

Ceridian Sees FY21 Sales $1.008B-$1.018B vs $1B Est., Sees Q3 Sales $251M-$255M vs $252.45M Est.

Business Outlook

Based on information available as of August 4, 2021, Ceridian has issued the following guidance for the remainder of fiscal year 2021:

Third quarter 2021 guidance

* Dayforce recurring revenue, excluding float revenue, of $151 million to $152 million, or an increase of 31% to 32% on a GAAP basis and 30% to 31% on a constant currency basis.

* Dayforce recurring revenue of $158 million to $159 million, or an increase of 29% to 30% on a GAAP basis and 27% to 28% on a constant currency basis.

* Dayforce revenue of $195 million to $197 million, or an increase of 24% to 25% on a GAAP basis and 22% to 23% on a constant currency basis.

* Cloud revenue of $215 million to $218 million, or an increase of 22% to 23% on a GAAP basis and 20% to 22% on a constant currency basis.

* Total revenue of $251 million to $255 million, or an increase of 23% to 25% on a GAAP basis and 21% to 23% on a constant currency basis.

* Float revenue of $7 million within Dayforce revenue, $9 million within Cloud revenue, and $10 million within total revenue.

* Adjusted EBITDA of $34 million to $38 million.

Fourth quarter 2021 guidance

* Dayforce recurring revenue, excluding float revenue, of $163 million to $164 million, or an increase of 32% to 33% on a GAAP basis and 31% to 32% on a constant currency basis.

Full Year 2021 guidance

* Dayforce recurring revenue, excluding float revenue, of $595 million to $597 million, or an increase of 28% to 29% on a GAAP basis and approximately 27% on a constant currency basis.

* Dayforce recurring revenue of $625 million to $627 million, or an increase of approximately 25% on a GAAP basis and 23% to 24% on a constant currency basis.

* Dayforce revenue of $778 million to $783 million, or an increase of 20% to 21% on a GAAP basis and 18% to 19% on a constant currency basis.

* Cloud revenue of $863 million to $870 million, or an increase of 18% to 19% on a GAAP basis and 16% to 17% on a constant currency basis.

* Total revenue of $1,008 million to $1,018 million, or an increase of 20% to 21% on a GAAP basis and 18% to 19% on a constant currency basis.

* Float revenue of $30 million within Dayforce revenue, $38 million within Cloud revenue, and $41 million within total revenue.

* Adjusted EBITDA of $155 million to $165 million.