Overview

• HCM solutions provider's Q4 revenue fell 2%, missing analyst expectations

• Adjusted net income for Q4 beat analyst estimates

• Company increased stock repurchase program to $400 mln

Outlook

• TriNet expects full-year 2026 total revenues between $4.75 bln and $4.9 bln

• Company projects professional service revenues of $625 mln to $645 mln for 2026

• TriNet anticipates adjusted EBITDA margin of 7.5% to 8.7% for 2026

Result Drivers

• REVENUE DECLINE - Total revenues decreased 2% to $1.2 bln, with professional service revenues down 7%, partly due to a 9% decrease in average worksite employees

• STRATEGIC INITIATIVES - Co plans to launch AI-powered TriNet Assistant and expand broker channel to support growth strategy in 2026

• ADJUSTED NET INCOME - Q4 adjusted net income was $21 mln, beating analyst estimates of $17.08 mln

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Revenue	Miss	$1.25 bln	$1.27 bln (5 Analysts)
Q4 Adjusted Net Income	Beat	$21 mln	$17.08 mln (6 Analysts)
Q4 Net Income		-$1 mln

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the employment services peer group is "buy."

• Wall Street's median 12-month price target for TriNet Group Inc is $64.00, about 41.4% above its February 11 closing price of $45.26

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nPn8jGGXKa

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