Automatic Data Processing, Inc. (ADP) Presents at Citi's 2026 Global TMT Conference Transcript

SA Transcripts 162.14K Followers Follow Automatic Data Processing, Inc. ( ADP ) Citi's 2026 Global TMT Conference September 9, 2026 3:15 PM EDT Company Participants Peter Hadley - Chief Financial Officer Conference Call Participants Bryan Keane - Citigroup Inc., Research Division Presentation Bryan Keane Citigroup Inc., Research Division I'm Bryan Keane. I cover the Payments Processors and IT Services here at Citi. And we're excited to have ADP here for a fireside chat. We have Peter Hadley, who is the CFO and a long time ADP-er. I think it's been over 20 years, I think, at ADP. So he can tell us all the secrets of what goes in and out of ADP. So I got a list of questions that I'll run through and then if you got any questions, you can just raise your hand and we can get a mic to you or I can ask a question for you. So with that, Peter, thanks for being here. Peter Hadley Chief Financial Officer Thank you, Bryan. Good to be here. Thank you. Question-and-Answer Session Bryan Keane Citigroup Inc., Research Division So, I got to start with the obligatory question about the macro. And since you guys have an incredible holistic view. What could you call out or what appears to be kind of the strength you're seeing in the macro versus the weaknesses? Anything in particular that maybe your data sees that kind of are interesting insights over the last several months? Peter Hadley Chief Financial Officer Yes, sure. I mean it's a super interesting macro environment. Obviously, lots going on. Oil prices, I think, have been watching during the day, but I think over $100 a barrel now and inflation rates north of 3%, at least in the most recent print. But for ADP, the main factors that drive our business are actually pretty stable. So employment situation being the predominant one, very much still a low