secwatch.observer — SEC 8-K summary
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Issuer:     INSPERITY, INC. (NSP)
CIK:        0001000753
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001000753-23-000037
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Insperity Q2 net income plunges 62%, adjusted EPS $0.64 vs $1.16 prior year; healthcare costs spike
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000753/000100075323000037/0001000753-23-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000753/000100075323000037/nsp-20230801.htm
  HTML page:      https://secwatch.observer/filing/0001000753-23-000037

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer