Every material Form 8-K Paychex filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Paychex reported fiscal second-quarter results for the three months ended November 30, 2025, with total revenue up 18% to $1.6 billion, and acquired Paycor contributing approximately 17% to Management Solutions revenue growth. GAAP diluted earnings per share fell 4% to $1.10 after $77.0 million of Paycor acquisition-related costs, while adjusted diluted EPS rose 11% to $1.26. The company updated its fiscal 2026 outlook so that adjusted diluted EPS is now expected to grow 10% to 11%, but the GAAP earnings decline and higher acquisition costs are the main offsets for shareholders.
Total revenue was $1.6 billion ($1,557.6 million) for the quarter, up 18% from $1,316.9 million a year earlier.
Diluted EPS was $1.10, down 4%; adjusted diluted EPS was $1.26, up 11%, excluding $77.0 million of acquisition-related costs.
Operating margin was 36.7% versus 40.9% a year earlier; adjusted operating margin was 41.7%.
Fiscal 2026 adjusted diluted EPS growth is now anticipated at 10% to 11%; other guidance is unchanged.
Paychex reported first-quarter fiscal 2026 results for the three months ended August 31, 2025, with total revenue up 17% to $1.54 billion, driven largely by the Paycor acquisition. GAAP diluted earnings per share fell 10% to $1.06 because of acquisition-related costs, while adjusted diluted earnings per share rose 5% to $1.22. The company now expects fiscal 2026 adjusted diluted earnings per share to grow 9% to 11%, and other guidance is unchanged.
Total revenue rose 17% to $1.54 billion; operating income fell 1% to $541.9 million
GAAP diluted EPS fell 10% to $1.06; adjusted diluted EPS rose 5% to $1.22
Fiscal 2026 adjusted diluted EPS growth now expected at 9% to 11%
Paycor acquisition, completed in April 2025, contributed about 17% to Management Solutions revenue growth
Paychex disclosed that two senior vice presidents, Mark Bottini (Sales) and Michael Gioja (Product Development and IT), notified the company on July 8, 2025 that they are retiring from their roles, with both staying on as special advisors for a transition period. The board also reduced its size from 11 to 10 directors following the July 9, 2025 departure of co-founder B. Thomas Golisano.
Mark Bottini, SVP Sales, retires effective immediately and will advise through August 31, 2025 at his current salary.
Michael Gioja, SVP Product Development and IT, retires from his role; his base salary drops to $120,000 after August 31, 2025 as he moves to a part-time advisory role through December 31, 2025.
B. Thomas Golisano left the Board on July 9, 2025; the board reduced its size from 11 to 10 directors as of that date.
Paychex reported fourth-quarter and fiscal 2025 results for the period ended May 31, 2025, with revenue up 10% in the quarter to $1.4 billion, while GAAP diluted earnings per share fell 22% to $0.82 and adjusted diluted EPS rose 6% to $1.19. The company said it completed its Paycor acquisition and issued a fiscal 2026 outlook calling for revenue growth of 16.5% to 18.5% and adjusted diluted EPS growth of 8.5% to 10.5%.
Fourth-quarter total revenue was $1.4 billion, up 10%, and operating income fell 11% to $431.1 million.
Acquisition-related costs were $145.6 million in operating income for the quarter, compared with none in the prior-year period.
Fiscal 2025 net income was $1.66 billion, down 2%, and diluted EPS was $4.58, down 2%.
Fiscal 2026 outlook calls for adjusted operating margin of approximately 43% and an effective tax rate of 24% to 25%.
Paychex founder B. Thomas Golisano notified the board on May 15, 2025 that he will step down as a director, effective after the company's July 2025 board meeting. He cited no disagreement with the company's operations, policies or practices. The filing does not describe any change to Paychex's financial results or outlook.
Golisano, 83, founded Paychex in 1971 and served as President, CEO and Chairman before retiring as CEO in 2004
Notice given to the board on May 15, 2025; departure effective after the July 2025 board meeting
No disagreement on company operations, policies or practices was cited
Chairman Martin Mucci and CEO Gibson issued statements thanking Golisano
Paychex completed its acquisition of Paycor HCM on April 14, 2025, under a merger agreement signed January 7, 2025. Paycor shareholders received $22.50 in cash per share, and Paychex described the deal as about $4.1 billion in enterprise value, with Paychex saying it expects the deal to be accretive to adjusted diluted EPS in fiscal 2026.
Merger completed April 14, 2025; Paycor became an indirect wholly owned subsidiary of Paychex
Paycor shares converted into the right to receive $22.50 in cash per share
Paychex expects more than $80 million in annual cost synergies in fiscal 2026 and expects the deal to be accretive to adjusted diluted EPS in fiscal 2026
Paychex will file required financial statements and pro forma information by amendment within 71 days
Paychex reported third-quarter fiscal 2025 results for the period ended February 28, 2025, with total revenue up 5% to $1.5 billion and diluted earnings per share up 4% to $1.43. The company also updated its fiscal 2025 outlook, now expecting PEO and Insurance Solutions revenue growth of 6.0% to 6.5% and an adjusted operating margin of about 43%, while the pending Paycor acquisition, expected to close in April 2025, is excluded from that outlook.
Total revenue was $1,509.0 million for the quarter, up 5% from $1,439.3 million a year earlier.
Diluted EPS was $1.43, up 4%; adjusted diluted EPS was $1.49, up 8%.
Fiscal 2025 outlook: PEO and Insurance Solutions revenue growth of 6.0% to 6.5%; adjusted operating margin about 43%.
The Paycor acquisition, agreed January 7, 2025, is expected to close in April 2025; the Hart-Scott-Rodino waiting period expired February 27, 2025.
Paychex agreed on January 7, 2025 to acquire Paycor HCM, Inc. for $22.50 per share in cash, an enterprise value of approximately $4.1 billion. Paychex expects the deal to be neutral to slightly accretive to adjusted diluted EPS in the first fiscal year after closing and accretive in the second year and beyond, and it plans to fund the deal largely with incremental debt, supported by a commitment for a bridge loan of up to $3.5 billion.
Price is $22.50 per share in cash, about a 19% premium to Paycor's 30-day volume weighted average price as of January 3, 2025
Enterprise value is approximately $4.1 billion; JPMorgan Chase Bank committed to a 364-day bridge loan of up to $3.5 billion
Pride Aggregator, LP, an affiliate of Apax Partners, owns 96.1 million Paycor shares, a majority, and has already approved the merger by written consent
Closing is expected in the first half of calendar 2025, may not occur before April 15, 2025, and either party may terminate if not completed by October 7, 2025
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Paychex filing is on SEC EDGAR ↗. 8-K briefs of other companies →