TriNet Q2 2022 Earnings Report
Key Takeaways
TriNet announced strong second quarter results with a 9% increase in total revenues to $1.2 billion. Professional service revenues grew by 17% to $182 million. Net income was $85 million, or $1.35 per diluted share, while Adjusted Net Income reached $108 million, or $1.72 per diluted share.
Total revenues increased by 9% year-over-year to $1.2 billion.
Professional service revenues grew by 17% year-over-year to $182 million.
Net income was $85 million, or $1.35 per diluted share.
Adjusted Net Income was $108 million, or $1.72 per diluted share.
TriNet
TriNet
TriNet Revenue by Segment
Forward Guidance
TriNet provided guidance for Q3 2022 and full year 2022. Total revenues are expected to increase by 7-8% in Q3 and 8-9% for the full year. Professional service revenues are projected to grow by 18-20% in Q3 and 17-18% for the full year. The insurance cost ratio is expected to be 88.5-90.0% for Q3 and 87.0-86.0% for the full year.
Positive Outlook
- Total Revenues: 7% to 8%
- Professional Service Revenues: 18% to 20%
- Insurance Cost Ratio: 88.5% to 90.0%
- Diluted net income per share of common stock: $0.46 to $0.66
- Adjusted Net Income per share - diluted: $0.87 to $1.08
Challenges Ahead
- Total Revenues: 8% to 9%
- Professional Service Revenues: 17% to 18%
- Insurance Cost Ratio: 87.0% to 86.0%
- Diluted net income per share of common stock: $4.10 to $4.68
- Adjusted Net Income per share - diluted: $5.60 to $6.20
Revenue & Expenses
Visualization of income flow from segment revenue to net income