These factors should enable ADP to achieve at least about $6.25 of EPS in fiscal year 2020, nearly 25% above management's September 2017 guidance.
Mixed Partly true and partly false in roughly equal measure.
Prediction: Statements about events outside the person's control, checked once they fell due: did they come true?
The evidence is the person's or their organisation's own records.
Said for an organisation they lead or work for; it counts on both records.
What would count as true or false
Measure: ADP's fiscal year 2020 diluted EPS (fiscal year ending 30 June 2020) as reported in its FY2020 results and 10-K. Use adjusted diluted EPS, ADP's headline non-GAAP measure, which is comparable to the guidance cited. If the figures are later restated, the restated figure governs. Because the claim says 'a minimum of ~$6.25+', the threshold is approximate. True: FY2020 adjusted diluted EPS is $6.25 or more. Mostly true: $6.10–$6.24, or the EPS threshold is met but the 'nearly 25% above September 2017 guidance' comparison turns out to be materially misstated. Mixed: $5.90–$6.09. Mostly false: $5.60–$5.89. False: below $5.60. A figure reached only in a later fiscal year does not count.
Set before the research began.
Evidence (3)
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E1 10-K Annual Report Wed Aug 05 2020 Last10K.com (reproduces ADP's fiscal 2020 earnings press release, filed as 8-K 2.02) · 29 July 2020 Own record
“Diluted EPS increased 9% to $5.70, and adjusted diluted EPS increased 9% to $5.92 due to the factors discussed above and a net share count reduction.”
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E2 ADP 10-K FY2020 Annual Report — Revenue, Net Income, EPS AnalystLens · 5 August 2020
“Diluted Earnings Per Share (EPS) grew by 9% to $5.70.”
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E3 EarningsCall · ADP Q4 2020 EarningsCall (transcript of ADP's 29 July 2020 earnings call) · 29 July 2020 Own record
“With this revenue and margin performance, our adjusted EPS growth was flat for the quarter and up 9% for the year.”
Reasoning
ADP's fiscal 2020 earnings release, filed as an 8-K, reports adjusted diluted EPS up 9% to $5.92 and GAAP diluted EPS of $5.70 [E1]. An independent summary of the FY2020 10-K confirms the $5.70 GAAP figure [E2], and the earnings call transcript confirms adjusted EPS growth of 9% for the year [E3]. Adjusted diluted EPS of $5.92 is within the criteria's $5.90–$6.09 band, so the verdict is mixed rather than true.
Cite this claim
Bill Ackman, “These factors should enable ADP to achieve at least about $6.25 of EPS in fiscal year 2020, nearly 25% above management's September 2017 guidance.” (said 17 May 2018). Verdict: mixed. Reliability API, claim c_5f56e3e71efd, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_5f56e3e71efd
This claim is in dataset release v1.1.2, with the same verdict.
Reply to this claim
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Verdicts are made automatically; how verdicts are made.