Insperity, Inc. (NSP - Free Report) reported solid second-quarter 2023 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings (excluding 31 cents from non-recurring items) of 64 cents per share missed the Zacks Consensus Estimate by 48.4% and declined 44.8% year over year. Revenues of $1.59 billion surpassed the consensus estimate by 2.6% and increased 10.7% year over year.
The average number of worksite employees paid per month was 311,304, increasing 7.2% year over year and beating our estimate of 311,262.
The market seems to be unimpressed by the results as the shares have not moved since the earnings release on Aug 1.
Operating Results
Gross profit declined 6.3% year over year to $224.6 million. Operating expenses increased 9% year over year to $208.8 million, beating our estimated $199.6 million. Operating expenses per worksite employee per month rose 1.8% to $224.
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Insperity, Inc. (NSP - Free Report) reported solid second-quarter 2023 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings (excluding 31 cents from non-recurring items) of 64 cents per share missed the Zacks Consensus Estimate by 48.4% and declined 44.8% year over year. Revenues of $1.59 billion surpassed the consensus estimate by 2.6% and increased 10.7% year over year.
The average number of worksite employees paid per month was 311,304, increasing 7.2% year over year and beating our estimate of 311,262.
The market seems to be unimpressed by the results as the shares have not moved since the earnings release on Aug 1.
Operating Results
Gross profit declined 6.3% year over year to $224.6 million. Operating expenses increased 9% year over year to $208.8 million, beating our estimated $199.6 million. Operating expenses per worksite employee per month rose 1.8% to $224.
Top 5 Dividend Stocks for Your Retirement
Zacks targets 5 well-established companies with solid fundamentals and a history of raising dividends. More importantly, they have the resources and will to likely pay them in the future.
Click now for a Special Report packed with unconventional wisdom and insights you simply won’t get from your neighborhood financial planner.
See our Top 5 now – the report is FREE >>
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