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Mar 31, 2022
Insperity Q1 2022 Earnings Report
Insperity's first quarter results were strong, with significant growth in WSEEs paid and revenues.
Key Takeaways
Insperity reported excellent first-quarter results, marked by a 22.6% increase in revenues to $1.6 billion and a 19.5% increase in average worksite employees (WSEEs) paid. Adjusted EPS increased by 9% to $1.99, and adjusted EBITDA rose by 14% to $118.6 million.
Average number of WSEEs paid and revenues increased by 19.5% and 22.6%, respectively.
Net income and diluted EPS were reported at $69.9 million and $1.80, respectively.
Adjusted EBITDA increased by 14% to $118.6 million.
Adjusted EPS stood at $1.99.
Forward Guidance
Insperity provided updated guidance for Q2 2022 and full year 2022. Q2 2022 average WSEEs paid are expected to be between 287,100 and 289,500, with adjusted EPS between $0.88 and $1.12. Full year 2022 average WSEEs paid are expected to be between 289,600 and 294,700, with adjusted EPS between $4.31 and $5.09.
Positive Outlook
- Q2 2022 average WSEEs paid are expected to increase 18.0%-19.0% year-over-year.
- Full year 2022 average WSEEs paid are expected to increase 15.5%-17.5% year-over-year.
- Full year 2022 Adjusted EBITDA is expected to increase 12%-28%.
- Full year 2022 Adjusted EPS is expected to increase 9%-29%.
- Q2 2022 Adjusted EBITDA is expected to increase 0%-21%.
Challenges Ahead
- Q2 2022 Adjusted EPS is expected to decrease (3)% - increase 23% year-over-year.
- Net income for Q2 2022 is guided to be $23-$32 million.
- Net income for full year 2022 is guided to be $132-$162 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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