TriNet Group (TNET) Reports In-Line Q3 EPS

TriNet Group (NYSE: TNET) reported Q3 EPS of $0.81, in-line with the analyst estimate of $0.81. Revenue for the quarter came in at $221 million versus the consensus estimate of $226.14 million.

Third quarter highlights include:

• Total revenues increased 11% to $969 million and Net Service Revenues decreased 4% to $221 million, each as compared to the same period last year.
• Net income was $55 million, or $0.78 per diluted share, compared to net income of $51 million, or $0.71 per diluted share, in the same period last year.
• Adjusted Net Income was $58 million, or $0.81 per diluted share, compared to Adjusted Net Income of $55 million, or $0.75 per diluted share, in the same period last year.
• Adjusted EBITDA was $93 million, an 8% increase from the same period last year.
• Total WSEs increased 4% compared to the same period last year, at approximately 332,000.
• Average WSEs increased 4% as compared to the same period last year, at approximately 331,000.

"During the third quarter, we continued to accelerate the momentum in our business as we successfully delivered our value proposition into our installed base and to new customers," said Burton M. Goldfield, TriNet's President and CEO. "We did experience higher insurance costs during the quarter, and we have already taken steps to mitigate their impact to 2020. With the current momentum in our business coupled with the steps we've taken, we believe we are well positioned to continue to deliver profitable growth for our shareholders."

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

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