Exhibit 99.1

 

Ceridian Reports Fourth Quarter and Full Year 2020 Results

Minneapolis, MN and Toronto, ON, February 9, 2021 

- Ceridian HCM Holding Inc. (“Ceridian” or the “Company”) (NYSE:CDAY) (TSX:CDAY), a global human capital management (“HCM”) software company, announced today its financial results for the fourth quarter and fiscal year ended December 31, 2020. All financial results are reported in U.S. dollars unless otherwise stated. A reconciliation of U.S. generally accepted accounting principles (“GAAP”) to non-GAAP financial measures has been provided in this press release, including the accompanying tables. An explanation of these measures is also included below under the heading “Use of Non-GAAP Financial Measures.”

“Overall, despite the economic headwind from the pandemic, our execution and financial performance exceeded expectations,” said David Ossip, Chairman and Chief Executive Officer of Ceridian. “Excluding float revenue, Dayforce recurring services revenue grew by more than 19%. We are uniquely positioned to help customers navigate this new world of work, and demand for Dayforce remains strong.”

The average U.S. dollar to Canadian dollar foreign exchange rate was $1.30 and $1.34, with a daily range of $1.27 to $1.33, and $1.27 to $1.45 for the three and twelve months ended December 31, 2020, respectively, compared to $1.32 and $1.33, with a daily range of $1.30 to $1.33, and $1.30 to $1.36 for the three and twelve months ended December 31, 2019, respectively. As of December 31, 2020, the U.S. dollar to Canadian dollar foreign exchange rate was $1.27. To present the performance of the business excluding the effect of foreign currency rate fluctuations, the Company presents revenue on a constant currency basis, which we believe is useful to management and investors. We have calculated revenue on a constant currency basis by applying the average foreign exchange rate in effect during the comparable prior period.

Financial Highlights for the Fourth Quarter and Full Year 2020

The financial highlights below are on a year-over-year basis, unless otherwise stated.

Dayforce Revenue

 

Dayforce recurring services revenue was $130.9 million and $500.2 million for the fourth quarter and full year of 2020, respectively, an increase of 14.5% and 16.6%, respectively, on a GAAP basis and 14.0% and 16.7%, respectively, on a constant currency basis.

 

Excluding float revenue, Dayforce recurring services revenue was $123.8 million and $463.1 million for the fourth quarter and full year of 2020, respectively, an increase of 19.8% and 22.5%, respectively, on a GAAP basis and 19.3% and 22.7%, respectively, on a constant currency basis.

 

Dayforce revenue was $170.7 million and $648.8 million for the fourth quarter and full year of 2020, respectively, an increase of 7.6% and 13.9%, respectively, on a GAAP basis and 7.1% and 14.0%, respectively, on a constant currency basis.

 

Excluding float revenue, Dayforce revenue was $163.6 million and $611.7 million for the fourth quarter and full year of 2020, respectively, an increase of 10.8% and 18.0%, respectively, on a GAAP basis and 10.2% and 18.1%, respectively, on a constant currency basis.

Revenue

 

Cloud revenue, which includes both Dayforce and Powerpay, was $193.9 million and $729.4 million for the fourth quarter and full year of 2020, respectively, an increase of 5.3% and 10.5%, respectively, on a GAAP basis and 4.7% and 10.7%, respectively, on a constant currency basis.

 

Excluding float revenue, Cloud revenue was $184.6 million and $683.6 million for the fourth quarter and full year of 2020, respectively, an increase of 8.5% and 14.5% respectively, on a GAAP basis and 7.9% and 14.7%, respectively, on a constant currency basis.

 

Total revenue, which includes revenue from both our Cloud and Bureau solutions, was $222.8 million and $842.5 million for the fourth quarter and full year of 2020, respectively, an increase of 0.5% and 2.2%, respectively, on a GAAP basis and a decline of 0.1% and an increase of 2.4%, respectively, on a constant currency basis.

1 | Q4 2020 Earnings Release

 


The following information was filed by Ceridian Hcm Holding Inc. (CDAY) on Tuesday, February 9, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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