UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Emerging growth company ☐ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36373 TRINET GROUP, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 95-3359658 ...

TriNet Announces Third Quarter 2024 Results Q4 2024 Full Year 2024 Low High Low High Total Revenues (1)% 2% 1% 2% Professional Service Revenues (8)% (5)% —% 1% Insurance Cost Ratio 96.5% 93.5% 90.3% 89.6% Diluted net income per share of common stock $(0.19) $0.31 $3.70 $4.20 Adjusted Net Income per share - diluted $0.06 $0.57 $4.95 $5.45 DUBLIN, Calif. — October 25, 2024 — TriNet Group, Inc. (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses, tod ...

DUBLIN, Calif., Oct. 25, 2024 /PRNewswire/ -- TriNet Group, Inc. (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses, today announced financial results for the third quarter ended September 30, 2024. The third quarter highlights below include non-GAAP financial measures which are reconciled later in this release.Third quarter highlights include: Total revenues increased 1% to $1.2 billion as compared to the same period last year. Flat professional ...

DUBLIN, Calif., Oct. 21, 2024 /PRNewswire/ -- TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs), today announced that Varsha Kakati has joined the company as Vice President and India Country Leader. Kakati will lead all operations at TriNet's Global Capabilities Center (GCC) in Hyderabad, India, which opened in August and supports a growing workforce of approximately 600 team members.  Varsha Kakati, India Country Leader and Vice P ...

New Book Provides Guidance for SMBs to Create Positive Employee Experiences and Navigate HR Challenges with Ease DUBLIN, Calif., Oct. 7, 2024 /PRNewswire/ -- TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs), today announced the launch of a new book, From Hire to Retire: A Guide to the Employee Life Cycle. Authored by Michael Mendenhall, Senior Vice President, Chief Marketing Officer and Chief Communications Officer at TriNet, the ...

DUBLIN, Calif., Oct. 4, 2024 /PRNewswire/ -- TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs), today announced it will release financial results for the third quarter ended September 30, 2024, before U.S. market hours on Friday, October 25, 2024. TriNet will host a conference call at 5:30 a.m. PT (8:30 a.m. ET) on October 25, 2024, to discuss the financial results. A live webcast of the conference call can be accessed on the Inves ...

DUBLIN, Calif., Sept. 5, 2024 /PRNewswire/ -- TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs), has announced the appointment of Sidney Majalya as Senior Vice President, Chief Legal Officer and Secretary, effective September 16. Majalya succeeds Samantha Wellington, Executive Vice President, Business Affairs, Chief Legal Officer and Secretary who is departing after eight years with the Company to pursue another opportunity. TriNet ...

HYDERABAD, India, Aug. 12, 2024 /PRNewswire/ -- TriNet (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses announced that it will be holding a ribbon-cutting ceremony to celebrate the grand opening of its new office in Hyderabad, India tomorrow. Hyderabad is a thriving hub for technology and business innovation, and this expansion reflects TriNet's commitment to meeting the evolving needs of its customers. TriNet will be holding a ribbon-cutting c ...

DCF Calculator Tutorial @ Excel Template with Add-In ■ Download Input to Excel(.xlsx) & Business Predictability ଡ Saved Fair Values Recent surveys of small businesses have indicated that owners consider inflation to be their biggest challenge, resulting in greater hesitancy to take on new employes and a desire to reduce benefits through cost efficiencies, substitution, or outright benefit cuts. 5Y Compare + Value Investment Outlook The company's sales model is a combination of direct sales and marketing as ...

Financial Data and Key Metrics - Total revenues grew 1% year-over-year, in line with the top end of guidance, supported by improved retention and modest customer hiring [61] - Professional service revenue grew 5%, exceeding high guidance by 1 point, driven by volume growth and rate improvement [62] - Insurance revenue grew 1% year-over-year, with healthcare participation rates slightly lower but offset by annual inflationary rate increases [35] - Insurance costs grew 6% year-over-year, reflecting higher healthcare and pharmacy cost inflation, partially offset by strong workers' comp performance [35] - Workers' compensation results included positive prior period development of approximately $20 million [36] - Operating expenses declined 6% year-over-year due to expense discipline and targeted investments in growth and automation [37] - GAAP earnings per diluted share were $1.20, and adjusted net income per diluted share was $1.53, both exceeding the top end of guidance ranges [37] - The company returned $159 million to shareholders through share repurchases and dividends in the first half of 2024 [38] Business Line Performance - Professional services revenue saw a gradual increase in fees, reflecting inflation and innovation in decision support tools, creating upside opportunities [1] - Workers' compensation performance was favorable, with a $20 million reserve release associated with prior period development [2] - All six verticals showed positive CIE (Customer Income Earned) for the full quarter, with tech showing modestly positive performance over the last two quarters [4] - The company's sales pipeline is comfortably ahead of the prior year, with a competitive market environment and strong interest in PEOs (Professional Employer Organizations) [10] Market Performance - The SMB (Small and Midsized Businesses) environment remains challenged, with high-interest rates, softening end markets, and persistent healthcare cost inflation [26] - The company finished Q2 with 15% more sales reps year-over-year, aiming for 20% growth before the fall selling season [27] - Customer hiring in Q2 was slower than forecasted, but the company has seen five consecutive months of positive yet modest customer hiring in 2024, a first since 2022 [28] Strategy and Industry Competition - The company is focused on profitable growth, with accelerated innovation in benefits and a disciplined approach to pricing and risk management [30] - TriNet's business model is resilient, with a strong value proposition, proprietary technology, and a focus on customer retention [23][57] - The company is investing in its sales force capacity and productivity, with a focus on capturing more of the growing funnel [34] - The growing cost and complexity of healthcare is seen as a long-term tailwind for the business, as SMBs seek help in managing these challenges [30] Management Commentary on Operating Environment and Future Outlook - The CEO expressed optimism about TriNet's future, citing strong operating performance and long-term growth prospects [29] - The company is well-positioned for growth as customer hiring resumes, with a positive outlook for the balance of the year [40] - The CFO highlighted the company's strong cash generation and capital return priorities, including share repurchases and dividends [38] - The company expects full-year revenues to be in the range of down 1% to up 4% year-over-year, with professional service revenues growing 1% to 5% [39] Other Important Information - The company has made key hires, including Tim Nimmer as Head of Insurance Services and Shea Treadway as Chief Revenue Officer, to strengthen its leadership team [31] - TriNet's technology and data capabilities are seen as a competitive advantage, with opportunities to improve analytics and innovate the benefits portfolio [58] - The company is focused on broadening its distribution channels, including the brokerage channel, to capture more of the SMB market [89] Q&A Session Summary Question: Sales momentum and productivity - Sales momentum is up 30% year-to-date, with retention being positive and the company making progress toward matching new sales with attrition losses [42] - The company expects productivity improvements over the next 4-6 quarters, with a focus on equipping the sales team with better tools and processes [43] Question: Accelerated innovation in benefits - The company is investing in data, analytics, and tools to help customers manage healthcare costs and complexity, with recent hires and innovations in decision support tools [44][45] Question: Professional services revenue growth - Professional services revenue growth was driven by sales force productivity, new clients, and platform enhancements [74] Question: CIE (Customer Income Earned) trends - The company expects modest CIE growth in the second half of the year, with seasonal headwinds in Q3 and a cautious outlook for the rest of the year [96] Question: Insurance cost ratio (ICR) and workers' comp - The ICR came in above the high end of guidance due to healthcare cost trends, but the company reaffirmed its full-year ICR guidance [78] - Workers' comp performance was strong, with a $20 million reserve release contributing to favorable results [2] Question: Expense control and sustainability - The company has reduced G&A expenses to invest in growth, with a focus on maintaining efficiency while not constraining productive investments [83] Question: Worksite employee dynamics and vertical trends - The company is focused on higher-growth verticals, with tech showing modestly positive performance and overall CIE in the low-single-digits [50] Question: PEO demand environment - The PEO demand environment is competitive, with elongated sales cycles due to inflationary healthcare costs, but the company remains confident in its relative position [100] Question: Capital allocation and EPS impact - The company has deployed $135 million in share repurchases and $25 million in dividends year-to-date, contributing to EPS growth [108] Question: CEO's perspective on the business model - The CEO sees significant opportunities for profitable growth, with a focus on leveraging TriNet's technology and market position [109] Question: Distribution channel expansion - The company is investing in multichannel distribution, with a focus on building momentum in direct and intermediated channels [118]