TriNet Group Inc. · Q3 2020 earnings

Briefing

TriNet's Q3 2020 financial performance reflected a resilient customer base and exceeded expectations, with total revenues increasing by 1% and a focus on supporting customers during challenging times.

TriNet Group, Inc. announced its Q3 2020 financial results, with total revenues increasing by 1% to $975 million, but Net Service Revenues decreasing by 2% to $216 million. Net income was $33 million, a decrease from the previous year's $55 million. The company highlighted its commitment to SMBs and its focus on long-term growth and customer support.

• Total revenues increased 1% to $975 million, while Net Service Revenues decreased 2% to $216 million compared to the same period last year.
• Net income decreased to $33 million, or $0.48 per diluted share, compared to $55 million, or $0.78 per diluted share, in the same period last year.
• Adjusted Net Income was $39 million, or $0.56 per diluted share, compared to $58 million, or $0.81 per diluted share, in the same period last year.
• Average Worksite Employees (WSEs) decreased 4% to approximately 318,000, and Total WSEs decreased 3% to approximately 321,000.

Headline financials

Revenue & EPS history

TriNet will host a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its quarterly and annual results for 2020 and provide quarterly and annual financial guidance for 2020.