https://assets.capyfin.com/instruments/678fdc13234e27009c5d5ea1.png avatar
TriNet
🇺🇸 NYSE:TNET
View Company
OverviewEarningsDividends
•
Sep 30, 2024

TriNet Q3 2024 Earnings Report

Reported a 1% increase in total revenues and a decrease in net income compared to the same period last year.

Key Takeaways

TriNet Group, Inc. announced its third quarter 2024 financial results, with total revenues increasing by 1% to $1.2 billion. However, net income decreased to $45 million, or $0.89 per diluted share, compared to $94 million, or $1.63 per diluted share, in the same period last year. The company is addressing challenges such as healthcare cost inflation by repricing healthcare fees.

Total revenues increased 1% to $1.2 billion year-over-year.

Net income decreased to $45 million, or $0.89 per diluted share, compared to the previous year's $94 million, or $1.63 per diluted share.

Adjusted Net Income was $59 million, or $1.17 per diluted share, compared to $109 million, or $1.91 per diluted share, in the same period last year.

Average WSEs increased 7% year-over-year to approximately 356,000, including 20,000 PEO Platform Users.

Total Revenue
$1.24B
Previous year: $1.22B
+1.2%
EPS
$1.17
Previous year: $1.91
-38.7%
Total WSEs
355.95K
Previous year: 335.74K
+6.0%
Average WSEs
183.41K
Previous year: 333.29K
-45.0%
Gross Profit
$214M
Previous year: $274M
-21.9%
Cash and Equivalents
$251M
Previous year: $170M
+47.6%
Free Cash Flow
-$56M
Previous year: -$125M
-55.2%
Total Assets
$3.73B
Previous year: $2.97B
+25.7%

TriNet

TriNet

TriNet Revenue by Segment

Forward Guidance

TriNet provided its fourth quarter and full-year 2024 guidance. Percentages reflect the increase or (decrease) from the prior year quarter and prior year end.

Positive Outlook

  • Full Year 2024 Total Revenues are expected to increase between 1% and 2%.
  • Full Year 2024 Professional Service Revenues are expected to remain flat to a 1% increase.
  • Full Year 2024 Diluted net income per share of common stock is projected to be between $3.70 and $4.20.
  • Full Year 2024 Adjusted Net Income per share - diluted is expected to be between $4.95 and $5.45.
  • Q4 2024 Insurance Cost Ratio is expected to be between 96.5% and 93.5%.

Challenges Ahead

  • Q4 2024 Total Revenues are expected to decrease by 1% to increase 2%.
  • Q4 2024 Professional Service Revenues are expected to decrease between 8% and 5%.
  • Q4 2024 Diluted net income per share of common stock is projected to be between $(0.19) and $0.31.
  • Q4 2024 Adjusted Net Income per share - diluted is expected to be between $0.06 and $0.57.
  • Full Year 2024 Insurance Cost Ratio is expected to be between 90.3% and 89.6%.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View TriNet