TriNet Q3 2022 Earnings Report
Key Takeaways
TriNet Group, Inc. reported an 8% increase in total revenues, reaching $1.2 billion for Q3 2022. Professional service revenues saw a 21% increase, totaling $189 million. Net income remained consistent at $77 million, with diluted net income per share increasing to $1.22. The company also provided Q4 and full-year 2022 guidance.
Total revenues increased by 8% to $1.2 billion compared to the same period last year.
Professional service revenues grew by 21% to $189 million compared to the same period last year.
Net income was $77 million, or $1.22 per diluted share, compared to $77 million, or $1.16 per diluted share, in the same period last year.
Adjusted Net Income was $104 million, or $1.64 per diluted share, compared to Adjusted Net Income of $87 million, or $1.31 per diluted share, in the same period last year.
TriNet
TriNet
TriNet Revenue by Segment
Forward Guidance
TriNet provided its third quarter and full-year 2022 guidance. Percentages reflect the increase or (decrease) from the prior year quarter and prior year end.
Positive Outlook
- Professional Service Revenues: 7% - 10% (Q4 2022), 17% - 18% (Full Year 2022)
Challenges Ahead
- Total Revenues: (2)% - 0% (Q4 2022), 7% - 8% (Full Year 2022)
- Diluted net income (loss) per share of common stock: $(0.47) - $0.07 (Q4 2022), $4.30 - $4.85 (Full Year 2022)
- Adjusted Net Income per share - diluted: $0.00 - $0.50 (Q4 2022), $5.90 - $6.40 (Full Year 2022)
- Insurance Cost Ratio: 93.0% - 97.0% (Q4 2022), 86.0% - 85.0% (Full Year 2022)
Revenue & Expenses
Visualization of income flow from segment revenue to net income