Exhibit 99.1
 
TriNet Announces Fourth Quarter, Fiscal Year 2019 Results, $300 Million Increase to Stock Repurchase Program and CFO Transition

10% Growth in GAAP Total Revenues and 4% Growth in Net Service Revenues for Fiscal Year 2019
10% Growth in GAAP Net Income and 8% Growth in Adjusted Net Income for Fiscal Year 2019
$300 Million Increase to Stock Repurchase Program

DUBLIN, Calif. February 13, 2020 TriNet Group, Inc. (NYSE: TNET), a leading provider of comprehensive human resources solutions for small to midsize businesses, today announced financial results for the fourth quarter and fiscal year ended December 31, 2019. The fourth quarter and fiscal year highlights below include non-GAAP financial measures which are reconciled later in this release.
Fourth quarter highlights include:
Total revenues increased 11% to $1.0 billion and Net Service Revenues remained flat at $226 million, as compared to the same period last year.
Net income was $48 million, or $0.68 per diluted share, compared to net income of $29 million, or $0.40 per diluted share, in the same period last year.
Adjusted Net Income was $59 million, or $0.84 per diluted share, compared to Adjusted Net Income of $42 million, or $0.59 per diluted share, in the same period last year.
Adjusted EBITDA was $92 million, representing an Adjusted EBITDA Margin of 41%.
Average Worksite Employees (WSEs) increased 5% as compared to the same period last year, to approximately 337,000.
Total WSEs increased 4% compared to the same period last year, to approximately 340,000.
Full year highlights include:
Total revenues increased 10% to $3.9 billion and Net Service Revenues increased 4% to $929 million, as compared to 2018.
Net income was $212 million, or $2.99 per diluted share, compared to net income of $192 million, or $2.65 per diluted share, in 2018.
Adjusted Net Income was $236 million, or $3.33 per diluted share, compared to Adjusted Net Income of $218 million, or $3.02 per diluted share, in 2018.
Adjusted EBITDA was $378 million, representing an Adjusted EBITDA Margin of 41%.
Average WSEs increased 2% as compared to 2018, to approximately 325,000.
Stock Repurchase Program:
Stock repurchase program increased by $300 million.

“We delivered fourth quarter financial and operating performance in line with our plan," said Burton M. Goldfield, TriNet’s President and CEO. "Our business momentum continued to improve as we benefited from new sales, improved customer retention, and strong growth from our installed base. We took quick action to mitigate the elevated insurance costs which we experienced in 2019. Our board of directors approved an expansion of our share buyback program, reflecting both TriNet's value and strong cash generation. We are positioned for strong 2020 operating and financial performance, and we expect to again deliver profitable growth for our shareholders.”

 
 
 
1

The following information was filed by Trinet Group Inc (TNET) on Thursday, February 13, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Trinet Group Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Trinet Group Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account