TriNet encourages participants to pre-register for the conference call. ET) today to discuss its first quarter results for 2023 and provide second quarter and full-year financial guidance for 2023. TriNet will host a conference call at 2:00 p.m. This press release should be read in conjunction with the Form 10-Q and the related Notes to Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in the Form 10-Q.Įarnings Conference Call and Audio Webcast Securities and Exchange Commission (SEC) and making it available at today, April 26, 2023. We anticipate filing our Quarterly Report on Form 10-Q (“Form 10-Q”) for the three months ended Mawith the U.S. Percentages reflect the increase or (decrease) from the prior year quarter and prior year end.ĭiluted net income (loss) per share of common stock Non-GAAP financial measures are reconciled later in this release. In addition to announcing our first quarter 2023 results, we provide our second quarter and full-year 2023 guidance. Second Quarter and Full-Year 2023 Guidance In business, you can count on the unexpected happening, and for our customers, they can count on TriNet to support them through challenging times.” Ultimately, none of our impacted customers missed a payroll. The regional bank crisis in the first quarter was an extreme example of just that. Goldfield continued, “We often speak of how we use scale in service of our customers. We remained disciplined in our financial management and delivered strong earnings for our shareholders.” We controlled our costs while we launched our new brand identity which highlights the unique value we offer SMBs. “With our singular focus on putting our customers at the center of everything we do, we grew new sales and kept more of our customers longer. “I am particularly pleased with our first quarter financial results which exceeded guidance and occurred during what proved to be a tumultuous first quarter economic environment,” said Burton M. Average HRIS Users decreased 9% as compared to the same period last year, to approximately 231,000.Average Worksite Employees (WSEs) decreased 5% as compared to the same period last year, to approximately 327,000.Adjusted EBITDA was $223 million, representing an Adjusted EBITDA Margin of 17.9%, compared to Adjusted EBITDA of $242 million, representing an Adjusted EBITDA Margin of 19.9% in the same period last year.Adjusted Net Income was $150 million, or $2.49 per diluted share, compared to Adjusted Net Income of $168 million, or $2.55 per diluted share, in the same period last year. ![]() Net income was $131 million, or $2.17 per diluted share, compared to net income of $146 million, or $2.21 per diluted share, in the same period last year.Total revenues increased 2% to $1.2 billion compared to the same period last year.Professional service revenues increased 6% to $205 million compared to the same period last year.
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