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Mar 31, 2020
Insperity Q1 2020 Earnings Report
Insperity's Q1 2020 financial results were announced, revealing a revenue increase alongside decreased net income and EPS compared to the previous year.
Key Takeaways
Insperity reported a 7% increase in revenue to $1.23 billion, driven by a 5.5% increase in average worksite employees. However, net income decreased by 19% to $62 million, and diluted EPS decreased by 15% to $1.58. Adjusted EPS was $1.70, a 14% decrease, and adjusted EBITDA remained consistent at $101.3 million.
Q1 revenue increased 7% due to worksite employee growth of 5.5%.
Diluted EPS was $1.58, and adjusted EPS was $1.70.
Net income totaled $62 million, and adjusted EBITDA was $101 million.
The company repurchased 878,000 shares at a cost of $61 million.
Insperity
Insperity
Forward Guidance
Insperity provided updated guidance for Q2 2020 and full year 2020.