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Jun 30, 2021
Insperity Q2 2021 Earnings Report
Insperity's financial performance demonstrated resilience and growth, marked by increased revenues and average worksite employees, despite higher benefit costs impacting profitability.
Key Takeaways
Insperity reported a 19% increase in revenue to $1.2 billion and a 7% increase in average worksite employees (WSEEs) to 243,270 for Q2 2021. Net income was $25.2 million, or $0.65 per diluted share, while adjusted EPS was $0.91. The company is focused on investing in growth and capitalizing on market opportunities.
Q2 average number of WSEEs paid and revenues increased by 7% and 19%, respectively.
Q2 net income reached $25.2 million with a diluted EPS of $0.65.
Adjusted EBITDA for Q2 was $60.2 million, and adjusted EPS was $0.91.
Client retention remained high, averaging 99% for the quarter.
Forward Guidance
Insperity provided guidance for Q3 2021 and full year 2021, including average WSEEs paid, adjusted EBITDA, and adjusted EPS.
Positive Outlook
- Q3 2021 average WSEEs paid is expected to be between 253,800 and 256,100.
- Full year 2021 average WSEEs paid is projected to be between 247,100 and 249,500.
- Q3 2021 adjusted EPS is guided to be between $0.74 and $0.93.
- Full year 2021 adjusted EPS is expected to be in the range of $4.00 to $4.59.
- Q3 2021 adjusted EBITDA is forecasted to be between $52 million and $62 million.
Challenges Ahead
- Q3 2021 adjusted EPS is expected to decrease by 19% to 2% year-over-year.
- Full year 2021 adjusted EPS is projected to decrease by 14% to 1% year-over-year.
- Q3 2021 adjusted EBITDA is expected to decrease by 10% to increase by 8% year-over-year.
- Full year 2021 adjusted EBITDA is projected to decrease by 11% to remain unchanged year-over-year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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