TriNet Q3 Revenue Falls 5% to $1.175 Billion; Adjusted EPS of $0.94 and Full-Year Earnings Expected at Top End of Guidance
TriNet Group, Inc. (NYSE: TNET), a provider of human capital management solutions for small and medium-size businesses, announced on October 29 its financial results for the third quarter ended September 30, 2026. Total revenues decreased 5% to $1.175 billion from the same period last year. Net income was $31 million, or $0.65 per diluted share, compared with $34 million, or $0.70 per diluted share, a year earlier. Adjusted net income was $44 million, or $0.94 per diluted share, and adjusted EBITDA was $89 million, a margin of 7.6%. TriNet is headquartered in Dublin, California.
Professional service revenues decreased 7% to $157 million, and insurance service revenues were $1,005 million, down about 4%. Interest income was $13 million. Total worksite employees decreased 11% year over year to approximately 295,000, and average worksite employees fell 12% to 296,372. The insurance cost ratio improved 1 percentage point to 89%.
"We delivered solid third quarter results and made further progress against our strategic priorities," said Mike Simonds, TriNet's President and CEO. "Earnings performance exceeded our forecast, customer retention improved, and new sales returned to year-over-year growth." He said momentum in the broker channel is building and that the company is strengthening its customer value proposition through solutions such as TriNet Leave powered by Cocoon, TriNet Recruit, and TriNet Spend.
Net cash provided by operating activities increased 11% to $80 million, generating $53 million of free cash flow. TriNet reaffirmed its full-year 2026 guidance — total revenues of $4.75 billion to $4.9 billion, professional service revenues of $647 million to $663 million, diluted EPS of $2.85 to $3.35, and adjusted EPS of $4.50 to $5.10 — and said it now expects earnings per share at the top end of the range, while revenue tracks toward the low end.
Source: GSM · USA (original Chinese edition)
Photo: 图：580号州际公路通往Dublin方向的航拍（TriNet总部位于加利福尼亚州Dublin，资料图）。Dicklyon摄，CC BY-SA 4.0，经Wikimedia Commons。 / Aerial view of Interstate 580 toward Dublin, California, where TriNet is headquartered (file photo). Photo by Dicklyon, CC BY-SA 4.0, via Wikimedia Commons.
