Trinet Group Inc (FRA:TN3)
€ 74 -3.5 (-4.52%) Market Cap: 3.82 Bil Enterprise Value: 4.57 Bil PE Ratio: 15.83 PB Ratio: 31.54 GF Score: 94/100
Back to the Transcripts List

Q3 2024 TriNet Group Inc Earnings Call Transcript

Oct 25, 2024 / 12:30PM GMT
Release Date Price: €83.5 (-1.76%)

Key Points

Positve
  • Trinet Group Inc (TNET) achieved record customer retention for the full year 2024, indicating strong customer loyalty.
  • The company successfully implemented double-digit price increases for healthcare renewals, maintaining strong retention rates.
  • Trinet Group Inc (TNET) has consolidated its data and analytics into a single team, enhancing performance data consistency and pricing processes.
  • The company reported a 6% year-over-year increase in worksite employees, reflecting growth in its customer base.
  • Trinet Group Inc (TNET) generated $213 million in corporate operating cash flows year-to-date, supporting its business and capital allocation strategies.
Negative
  • Increased healthcare costs negatively impacted Trinet Group Inc (TNET)'s overall financial performance for the quarter.
  • The company experienced no net hiring among its customer base, reflecting a cautious economic outlook.
  • Trinet Group Inc (TNET) reported a decline in co-employed worksite employees by 1% year-over-year.
  • The insurance cost ratio was at the higher end of the range due to elevated healthcare and pharmacy costs.
  • Professional service revenue was flat compared to the prior year, partly due to a one-time item in the previous year that did not recur.
Operator

Good morning and welcome to the TriNet third quarter 2024 earnings conference call. All participants will be in listen-only mode. Should you need assistance? Please signal a conference specialist by pressing star. Then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions to ask a question. You may press star then one on your telephone keypad to withdraw your question. Please press star. Then two. Please note this event is being recorded. I would now like to turn the conference over to Alex Bauer, head of Investor Relations. Please go ahead.

Alex Bauer
TriNet Group Inc - Head of Investor Relations

Thank you, operator. Good morning. My name is Alex Bauer and I'm TriNet's Head of Investor Relations. Thank you for joining us and welcome to TriNet's 2024 third quarter conference call.

I'm joined today by our President and CEO Mike Simonds and our co Kelly Tinelli.

Before we begin, I would like to address our use of forward-looking statements and non GAAP financial measures.

Please note

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2024 GuruFocus.com, LLC. All Rights Reserved.