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Jun 30, 2022
TriNet Q2 2022 Earnings Report
TriNet's Q2 2022 financial results were announced, demonstrating revenue growth and strategic progress.
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
Revenue by Segment
Professional Services Revenue
CapyFin.comInsurance Services Revenue
CapyFin.com 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