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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
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