8-K
filed August 1, 2023, 7:59 PM ET
ticker NSP
CIK 0001000753
earnings
confidence high
sentiment negative
materiality 0.75
Insperity Q2 net income plunges 62%, adjusted EPS $0.64 vs $1.16 prior year; healthcare costs spike
INSPERITY, INC.
2023-Q2 EPS reported
$2.78
revenue$3,354,781,000
- Q2 net income $12.9M ($0.33 EPS) down 62% YoY; adjusted EPS $0.64 down 45%.
- Revenue $1.6B (+11% YoY) on 7% increase in paid worksite employees to 311,304.
- Gross profit fell 6.3% to $224.6M on substantially higher-than-expected benefits costs; large claims drove 75% of increase.
- Adjusted EBITDA down 32% to $50.9M; YTD adjusted EBITDA up 5% to $203.3M.
- Board authorized additional 2M share repurchase; FY2023 guidance updated to reflect elevated healthcare costs.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
INSPERITY, INC. reported the first six months of 2023 results: revenue $3.4 billion, net income $107.5 million, EPS $2.78.
- Period
- the first six months of 2023
- Revenue
- $3.4 billion
- Net income
- $107.5 million
- EPS
- $2.78
- Result
- reported results
Exact text from the filing
32.2% to $50.9 million. Year-to-Date Results The average number of WSEEs paid per month increased 8.6% over 2022 to 308,998 WSEEs. Revenues in 2023 increased by 11.5% to $3.4 billion on the 8.6% increase in paid WSEEs and a 2.6% increase in revenue per WSEE. Gross profit increased 5.9% on the increase in paid WSEEs and a decrease of 2.6% on a per WSEE per
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
INSPERITY, INC. reported the second quarter ended June 30, 2023 results: revenue $1.6 billion, net income $12.9 million, EPS $0.33.
- Period
- the second quarter ended June 30, 2023
- Revenue
- $1.6 billion
- Net income
- $12.9 million
- EPS
- $0.33
- Result
- reported results
Exact text from the filing
net hiring in our client base, although Q2 2023 came in slightly lower than forecast and at approximately 50% of Q2 2022 levels. Revenues in Q2 2023 increased 10.7% to $1.6 billion on the 7.2% increase in paid WSEEs and a 3.3% increase in revenue per WSEE. Gross profit decreased 6.3% over Q2 2022 to $224.6 million on substantially higher-than-expected
View on SEC.gov
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