TriNet reports Q2 adjusted EPS $1.53, consensus $1.28

Reports Q2 revenue $1.2B, consensus $1.21B. “The strength and resiliency of TriNet’s business model was once again on display with a strong second quarter,” said Mike Simonds, CEO. “In a challenging business environment for SMBs, our exceptional service model and proprietary technology drove improved customer retention and encouraging sales results. As a business whose customer base is predominantly professional SMBs, TriNet is managing through the challenges of limited customer hiring and accelerated insurance cost growth. We, however, remain focused on efficient execution and delivering financial results that our investors have come to expect. Also in the quarter, we returned a considerable amount of capital to shareholders through dividends and significant share repurchases as we believe TriNet is undervalued at current prices. Looking to the second half, the TriNet team will remain focused on our customers, maintain our expense and pricing discipline, and map the path to accelerated growth in 2025 and beyond.”