Trinet Group Inc

TNET

Equity

ISIN US8962881079 / Valor 1075234

New York Stock Exchange, Inc (2024-11-20)

USD 94.20+5.80%

Trinet Group Inc
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About company

Trinet Group Inc is a company that specializes in providing HR solutions for small and medium-sized businesses. They offer services such as payroll management, HR management, tax credit maximization, and additional specialized HR services. The company's leadership team includes experts in digital transformation, marketing, legal affairs, and customer success, who work together to ensure the success of TriNet's PEO and SaaS HCM customers. With a focus on customer service and core service delivery, TriNet aims to support businesses in navigating the complexities of HR management and compliance.

Summarized from source with an LLMView SourceSector: Technology

Total Revenue Growth

In the first quarter of 2024, Trinet Group Inc. reported a 1% increase in total revenues, reaching $1.3 billion compared to the same period last year. This growth reflects the company's ability to maintain steady revenue streams despite broader economic challenges.

Professional Service Revenues

Trinet Group Inc. saw a 4% growth in professional service revenues, amounting to $214 million in the first quarter of 2024. This increase highlights the company's expanding footprint in providing comprehensive HR solutions to small and medium-sized businesses.

Net Income and Earnings Per Share

For the first quarter of 2024, Trinet Group Inc. reported a net income of $91 million, translating to $1.78 per diluted share. This is a decrease from the previous year's net income of $131 million, or $2.17 per diluted share, indicating some financial pressures.

Adjusted Net Income

Trinet Group Inc.'s adjusted net income for the first quarter of 2024 was $111 million, or $2.16 per diluted share. This compares to an adjusted net income of $150 million, or $2.49 per diluted share, in the same period last year, showing a decline in adjusted profitability.

Cash and Debt Position

As of March 31, 2024, Trinet Group Inc. held cash and cash equivalents totaling $298 million, with total debt amounting to $1.1 billion. This financial position underscores the company's liquidity and leverage status as it navigates through the current economic environment.

Summarized from source with an LLMView Source

Key figures

-15.3%1Y

-10.9%3Y

73.7%5Y

Performance

36.2%1Y

35.0%3Y

41.9%5Y

Volatility