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TriNet Group (TNET) Tops Q3 EPS by 19c, Revenues Beat

October 29, 2018 4:27 PM

TriNet Group (NYSE: TNET) reported Q3 EPS of $0.75, $0.19 better than the analyst estimate of $0.56. Revenue for the quarter came in at $228 million versus the consensus estimate of $203.42 million.

GAAP Total revenues increased 7% to $875 million while Net Service Revenues increased 11% to $228 million, each as compared to the same period last year.
Net income was $51 million, or $0.71 per diluted share, compared to net income of $43 million, or $0.60 per diluted share, in the same period last year.
Adjusted Net Income was $55 million, or $0.75 per diluted share, compared to Adjusted Net Income of $41 million, or $0.56 per diluted share, in the same period last year.
Adjusted EBITDA was $88 million, a 9% increase from the same period last year.
Average WSEs decreased 2% as compared to the same period last year, to approximately 318,000.

"We delivered strong financial results during the third quarter, as we executed on our vertical market strategy," said Burton M. Goldfield, TriNet's President and CEO. "We\'re leveraging our scale, enhanced technology platform and industry-tailored approach to address the unique HR needs of our customers, allowing them to pursue transformational outcomes for their employees and their organizations. Our disciplined and differentiated approach to this market opportunity has led to profitable growth and market penetration. We are strategically investing in sales, marketing, and process improvements to strengthen our overall position and secure our long-term growth trajectory."

For earnings history and earnings-related data on TriNet Group (TNET) click here.

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