Insperity (NSP) Surpasses Q4 Earnings & Revenue Estimates
Zacks Investment Research | Feb 13, 2020 07:57AM ET
Insperity, Inc. (NYSE:NSP) reported solid fourth-quarter 2019 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings of 57 cents per share beat the consensus mark by 3.6% but decreased 17.4% year over year. The reported figure came within the guided range of 50-61 cents.
Total revenues of $1.08 billion outpaced the consensus estimate by 1.6% and increased 11.2% year over year on the back of a 10% rise in average number of worksite employees (WSEEs) paid per month. Average number of worksite employees paid per month was 243,715 at the end of the reported quarter.
Over the past year, shares of Insperity have decreased 42.7% compared with 15.3% decline of the industry it belongs to.
Operating Results
Gross profit of $161.9 million increased 0.2% from the year-ago quarter as higher benefit costs were partially offset by improved pricing.Gross margin of 15.1% declined from 16.7% in the year-ago quarter. Gross profit per worksite employee per month decreased 9.1% year over year to $221.
Adjusted EBITDA was down 14.4% year over year to $40.7 million. Adjusted EBITDA per worksite employee per month decreased 22.2% to $56.
Adjusted operating expenses increased 4.1% year over year to $134.2 million. Adjusted operating expenses per worksite employee per month decreased 5.7% to $183.
Operating income decreased 15% year over year to $27.7 million. Operating income per worksite employee per month decreased 22.4% to $38.
Insperity, Inc. Price, Consensus and EPS Surprise
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