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Sep 30, 2021
Insperity Q3 2021 Earnings Report
Insperity's Q3 2021 financial performance was solid, marked by double-digit unit growth and strategic cost management.
Key Takeaways
Insperity reported a 20% increase in revenues to $1.2 billion and an 11% increase in average worksite employees (WSEEs) paid. Net income was $27.3 million, with diluted EPS at $0.70. Adjusted EBITDA reached $60.1 million, and adjusted EPS was $0.89.
Q3 average number of WSEEs paid and revenues increased by 11% and 20%, respectively.
Q3 net income was $27.3 million and diluted EPS was $0.70.
Q3 adjusted EBITDA was $60.1 million and adjusted EPS was $0.89.
Client retention remained high at 99% for the quarter.
Forward Guidance
Insperity provided updated guidance for Q4 2021 and the full year 2021. The company expects average WSEEs paid to be between 265,500 and 268,000 for Q4 and between 250,100 and 250,600 for the full year. Adjusted EPS is projected to be between $0.61 and $0.81 for Q4 and between $4.25 and $4.46 for the full year. Adjusted EBITDA is expected to be between $45 million and $56 million for Q4 and between $271 million and $282 million for the full year.
Positive Outlook
- Q4 2021 average WSEEs paid year-over-year increase of 11%—12%
- Q4 2021 adjusted EPS year-over-year increase of 24%—65%
- Q4 2021 adjusted EBITDA year-over-year increase of 19%—48%
- Full Year 2021 average WSEEs paid year-over-year increase of 6.8%—7%
- Full Year 2021 adjusted EBITDA between $271 million and $282 million
Challenges Ahead
- Full Year 2021 adjusted EPS year-over-year decrease of (8)%—(4)%
- Full Year 2021 adjusted EBITDA year-over-year decrease of (6)%—(2)%
- Net income between $18 million and $26 million for Q4 2021
Historical Earnings Impact
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Avg. Return Before/After Earnings
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