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Dec 31, 2021
TriNet Q4 2021 Earnings Report
Reported record Q4 and Fiscal Year 2021 results and an increase to the stock repurchase program.
Key Takeaways
TriNet reported a strong fourth quarter, with a 16% increase in total revenues and a 23% increase in professional service revenues. Net income increased significantly, and the company increased its stock repurchase program by $300 million.
Professional service revenues increased 23% to $174 million compared to the same period last year.
Total revenues increased 16% to $1.2 billion compared to the same period last year.
Net income was $69 million, or $1.03 per diluted share.
Total WSEs increased 10% compared to the same period last year, to approximately 365,000.
TriNet
TriNet
TriNet Revenue by Segment
Revenue by Segment
Professional Services Revenue
CapyFin.comInsurance Services Revenue
CapyFin.com Forward Guidance
The company provided its first quarter and full-year 2022 guidance.
Positive Outlook
- Q1 2022 Total Revenues are expected to increase between 11% and 12%.
- Q1 2022 Professional Service Revenues are expected to increase between 16% and 17%.
- Q1 2022 Diluted net income per share of common stock is expected to be between $1.71 and $2.03.
- Q1 2022 Adjusted Net Income per share - diluted is expected to be between $1.89 and $2.22.
- Full Year 2022 Adjusted Net Income per share - diluted is expected to be between $4.55 and $5.20.
Challenges Ahead
- Full Year 2022 Insurance Cost Ratio is expected to be between 88.0% and 89.0%.
- Full Year 2022 Total Revenues are expected to increase between 4% and 7%.
- Full Year 2022 Professional Service Revenues are expected to increase between 6% and 9%.
- Full Year 2022 Diluted net income per share of common stock is expected to be between $3.87 and $4.51.
- Full Year 2022 Net income is expected to decrease.
Revenue & Expenses
Visualization of income flow from segment revenue to net income