Earnings summaries and quarterly performance for TRINET GROUP.
Executive leadership at TRINET GROUP.
Michael Simonds
Detailed
President and Chief Executive Officer
CEO
AS
Anthony Shea Treadway
Detailed
Senior Vice President, Chief Revenue Officer
JV
Jay Venkat
Detailed
Executive Vice President, Strategy, Products, and Transformation
JH
Jeffery Hayward
Detailed
Senior Vice President, Chief Technology Officer
MM
Mala Murthy
Detailed
Executive Vice President, Chief Financial Officer
SM
Sidney Majalya
Detailed
Senior Vice President, Chief Legal Officer and Secretary
TN
Timothy Nimmer
Detailed
Senior Vice President, Insurance Services and Operations
Board of directors at TRINET GROUP.
BE
Brian Evanko
Detailed
Director
DH
David Hodgson
Detailed
Chair of the Board and Lead Independent Director
JK
Jacqueline Kosecoff
Detailed
Director
JK
Janet Kennedy
Detailed
Director
MR
Madhu Ranganathan
Detailed
Director
MC
Maria Contreras-Sweet
Detailed
Director
MA
Michael Angelakis
Detailed
Director
MS
Myrna Soto
Detailed
Director
PC
Paul Chamberlain
Detailed
Director
RC
Ralph Clark
Detailed
Director
WL
Wayne Lowell
Detailed
Director
Research analysts who have asked questions during TRINET GROUP earnings calls.
AN
Andrew Nicholas
William Blair & Company
7 questions for TNET
Also covers: AMTD, CBZ, CLVT +16 more
JL
Jared Levine
TD Cowen
7 questions for TNET
Also covers: ADP, ASUR, DAY +7 more
David Grossman
Stifel
6 questions for TNET
Also covers: DCGO, DH, DRIO +3 more
Kyle Peterson
Needham & Company
5 questions for TNET
Also covers: AFRM, ALIT, AX +14 more
AP
Andrew Polkowitz
J.P. Morgan
3 questions for TNET
Also covers: ALIT, NSP, PAY
AP
Andrew Pogos
JPMorgan Chase & Co.
2 questions for TNET
KM
Kevin McVeigh
Credit Suisse Group AG
2 questions for TNET
Also covers: ACN, ADP, ALIT +15 more
RC
Ross Cole
Needham & Company, LLC
2 questions for TNET
Also covers: ACLS, ALIT, AMKR +6 more
TB
Tyler Barrish
Truist
2 questions for TNET
Recent press releases and 8-K filings for TNET.
TriNet Reports Q4 2025 Results and Provides 2026 Financial Guidance
TNET
Earnings
Guidance Update
Share Buyback
- TriNet reported a 2% year-over-year decline in total revenues for Q4 2025 and a 1% decline for the full year, ending 2025 with approximately 323,000 total WSEs, down 10% year-over-year, and 80% retention.
- For the full year 2025, adjusted earnings per diluted share reached $4.73, at the top end of guidance, with adjusted EBITDA of $425 million (an 8.5% margin) and $234 million in free cash flow, representing 16% year-over-year growth.
- The company provided 2026 guidance, forecasting total revenues between $4.75 billion and $4.9 billion, adjusted EBITDA margin between 7.5% and 8.7%, and adjusted earnings per diluted share between $3.70 and $4.70.
- TriNet anticipates elevated attrition in Q1 2026 due to the final catch-up health fee repricing but expects retention to improve and new sales growth to positively impact volumes as the year progresses.
- In 2025, TriNet returned $235 million to shareholders through share repurchases and dividends, and paid off the remaining $90 million balance of its revolving credit facility.
Feb 12, 2026, 1:30 PM
TriNet Reports Q4 and Full-Year 2025 Results, Provides 2026 Outlook
TNET
Earnings
Guidance Update
Demand Weakening
- TriNet reported a 1% decline in total revenues for the full year 2025, but achieved adjusted earnings per diluted share of $4.73, at the top end of its guidance, and generated $234 million in free cash flow, representing 16% year-over-year growth.
- The company experienced a 10% decline in total WSEs to 323,000 and a retention drop to 80% in 2025, primarily attributed to necessary health fee repricing actions taken to address elevated medical cost inflation and an underpriced cohort.
- For 2026, TriNet forecasts total revenues between $4.75 billion and $4.9 billion, with adjusted earnings per diluted share in the range of $3.70 to $4.70, and an adjusted EBITDA margin of 7.5% to 8.7%.
- Management expects retention to improve through 2026 as significant repricing actions are completed, and anticipates new sales growth driven by investments in its go-to-market strategy, including a projected nearly 20% expansion in selling capacity later in the year.
- In 2025, TriNet returned $235 million to shareholders through share repurchases and dividends, and the board has increased the share repurchase program, making $400 million available for future repurchases.
Feb 12, 2026, 1:30 PM
TriNet Group Reports Q4 and Full-Year 2025 Results, Provides 2026 Outlook
TNET
Earnings
Guidance Update
Share Buyback
- TriNet Group reported strong financial performance for 2025, achieving adjusted earnings per diluted share of $4.73, at the top end of guidance, and generating 16% growth in free cash flow.
- The company successfully completed a comprehensive health fee renewal, strengthening its risk position for 2026, and reduced operating expenses by 7% year over year in 2025.
- For 2026, TriNet forecasts total revenues between $4.75 billion and $4.9 billion, with adjusted earnings per diluted share in the range of $3.70 to $4.70, and an adjusted EBITDA margin of 7.5% to 8.7%.
- The 2026 guidance assumes no improvement in macro conditions, including healthcare cost trends or hiring, with the company focusing on go-to-market execution, disciplined pricing, and prudent expense management.
- TriNet returned $235 million to shareholders in 2025 through share repurchases and dividends, and the board authorized an increase in the share repurchase program to $400 million.
Feb 12, 2026, 1:30 PM
TriNet Announces Q4 and Full Year 2025 Results, Provides 2026 Guidance
TNET
Earnings
Guidance Update
Share Buyback
- TriNet reported Q4 2025 total revenues of $1.2 billion, a 2% decrease year-over-year, with a net loss of $1 million or $(0.01) per share, and Adjusted Net Income of $21 million or $0.46 per diluted share.
- For the full year 2025, total revenues decreased 1% to $5.0 billion, with net income of $155 million or $3.20 per diluted share, and Adjusted Net Income of $230 million or $4.73 per diluted share.
- Average Worksite Employees (WSEs) for Q4 2025 decreased 9% year-over-year to approximately 324,000, and for the full year 2025, decreased 5% to approximately 334,000.
- The company provided full-year 2026 guidance, expecting Total Revenues between $4,750 million and $4,900 million, and Adjusted Net Income per diluted share between $3.70 and $4.70.
- TriNet's stock repurchase program was increased by $336 million, bringing the total available for repurchase to $400 million as of February 6, 2026.
Feb 12, 2026, 12:04 PM
TriNet Discusses Strategic Refocus, Financial Targets, and CFO Transition at J.P. Morgan Conference
TNET
Guidance Update
Management Change
New Projects/Investments
- TriNet's President and CEO, Mike Simonds, highlighted the company's strategic refocus on SMB-focused PEO and ASO businesses, having exited the SaaS-only segment and trimmed others during a "transition year".
- The company is confident in its insurance cost ratio (ICR) guidance of 90%-92% for 2025, expecting to finish the current year at the favorable end of the range, with a long-term target of 88%-90%.
- Despite double-digit health fee increases, TriNet anticipates client retention to be at or slightly better than its historical 80% rate for the current year, with expectations to return to the 87%-90% long-term range next year, following the final "catch-up renewal" on January 1 , ,.
- TriNet is investing in its ASO business, which has seen more favorable demand than expected, and in AI-based solutions to enhance efficiency and client experience ,.
- The company aims for revenue growth of 4%-6% and a 10%-11% EBITDA margin improvement, while also announcing that Mala Murthy will join as the new CFO, replacing Kelly Tuminelli ,.
Nov 18, 2025, 6:20 PM
TriNet Discusses Strategic Transition, Financial Outlook, and New CFO at J.P. Morgan Conference
TNET
CFO Change
Guidance Update
New Projects/Investments
- TriNet has completed a strategic transition, exiting the SaaS-only business and other segments to focus on its SMB-focused PEO and ASO businesses.
- The company guided to a 90%-92% insurance cost ratio (ICR) for 2025, expecting to track towards the favorable end, and aims for a long-term range of 88%-90%.
- Client retention is forecast to be around the historical 80% rate or slightly better, despite double-digit health fee increases, with health fees being the single largest reason for churn.
- Demand for the ASO business has been more favorable than expected, providing a solution for clients who outgrow the PEO model and enhancing sales flexibility.
- Mala Murthy will join as the new CFO in a couple of weeks, succeeding Kelly Tuminelli.
Nov 18, 2025, 6:20 PM
TriNet Discusses Strategic Refocus, Financial Outlook, and CFO Transition at JPMorgan Conference
TNET
CFO Change
Guidance Update
New Projects/Investments
- TriNet has undergone a transition year, exiting the SaaS-only business and trimming other segments to focus on its SMB-focused PEO and ASO businesses. Demand for the ASO model has been more favorable than expected, allowing TriNet to retain clients who outgrow the PEO model and offer more flexible solutions.
- The company guided to a 90%-92% insurance cost ratio for 2025, expecting to finish at the favorable end, with a long-term target of 88%-90%. Despite double-digit health fee increases, client retention rates are at or slightly better than the historical 80% level, with expectations to reach the 87%-90% long-term range next year.
- TriNet expects operating expenses to grow year-over-year in the medium term, but with two to three points of daylight between OpEx and revenue growth. Capital allocation priorities include organic investments in technology and sales, potential tuck-in M&A, and shareholder-friendly actions.
- Mala Murthy will be joining TriNet as the new CFO in a couple of weeks, succeeding Kelly Tuminelli.
Nov 18, 2025, 6:20 PM
TriNet (TNET) Announces Q3 2025 Results and CFO Transition
TNET
Earnings
CFO Change
Guidance Update
- Mala Murthy has been appointed as TriNet's new Chief Financial Officer, effective November 28, succeeding Kelly Tuminelli.
- For Q3 2025, total revenue declined 2% year over year, with GAAP earnings per share at $0.70 and adjusted earnings per diluted share at $1.11. Adjusted EBITDA was $100 million, representing an 8.2% margin.
- TriNet expects full-year 2025 total revenues to be approximately $5 billion, near the midpoint of its guidance. This outlook comes despite a decline in WSE volumes, which were 332,000 total WSEs (down 7% year over year) in Q3.
- The company is making progress towards its medium-term adjusted EBITDA margin target of 10-11% and aims to return the insurance cost ratio to 87-90% in 2026. In Q3, $45 million was returned to shareholders through stock repurchases and dividends.
Oct 29, 2025, 11:45 AM
TriNet Reports Q3 2025 Results, Updates Full-Year Outlook, and Announces New CFO
TNET
Earnings
Guidance Update
CFO Change
- TriNet reported Q3 2025 results with total revenue down 2% year-over-year and professional services revenue declining 8%. The company ended the quarter with approximately 332,000 total WSEs, a 7% decrease year-over-year.
- Adjusted earnings per diluted share for Q3 2025 was $1.11, and adjusted EBITDA was $100 million, representing an 8.2% margin. Operating expenses declined 2% year-over-year.
- For the full year 2025, TriNet expects total revenues to be approximately $5 billion, near the midpoint of its guidance, with adjusted EBITDA margin in the top half and adjusted EPS closer to the top end of its originally disclosed range.
- The company announced that Mala Murthy will become TriNet's Chief Financial Officer effective November 28, succeeding Kelly Tuminelli.
- TriNet deployed $45 million in capital to shareholders in Q3 2025, including a $27.50 dividend per share (a 10% increase year-over-year) and approximately $31 million in share repurchases.
Oct 29, 2025, 11:45 AM
TriNet Group, Inc. Announces Q3 2025 Results, Reaffirms Full-Year Guidance, and Appoints New CFO
TNET
Earnings
CFO Change
Guidance Update
- TriNet Group, Inc. reported Q3 2025 total revenues of $1.2 billion, a 2% decrease year-over-year, with net income of $34 million, or $0.70 per diluted share.
- Adjusted Net Income for Q3 2025 was $55 million, or $1.11 per diluted share, and Adjusted EBITDA was $100 million.
- The company reaffirmed its full-year 2025 guidance, projecting total revenues between $4,950 million and $5,140 million and diluted net income per share between $1.90 and $3.40, and is "tracking towards the high end of our full-year earnings guidance range".
- Mala Murthy has been appointed Chief Financial Officer, effective November 28, 2025, succeeding Kelly Tuminelli.
Oct 29, 2025, 11:20 AM
Quarterly earnings call transcripts for TRINET GROUP.
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