Dublin, California – October 29, 2026 -- TriNet Group (NYSE: TNET) reported a 5% year-over-year decline in third-quarter revenue to $1.2 billion, while worksite employees fell 11% to approximately 295,000, yet the HR outsourcing provider reaffirmed its full-year 2026 guidance.
Earnings and margins contract year over year
Net income fell to $31 million, or $0.65 per diluted share, from $34 million, or $0.70, a year earlier. Adjusted Net Income dropped to $44 million ($0.94 per diluted share) from $55 million ($1.11).
Adjusted EBITDA declined to $89 million from $100 million, and the Adjusted EBITDA Margin narrowed to 7.6% from 8.2%. Professional service revenues decreased 7% to $157 million.
Operating cash flow rises 11% to $80 million
Net cash provided by operating activities increased 11% to $80 million, producing $53 million in Free Cash Flow.
TriNet expects the high end of its 2026 EPS range
The company reaffirmed full-year 2026 guidance and said it expects diluted earnings per share at the high end of its range.
CEO Mike Simonds said earnings beat the company's forecast, customer retention improved, and new sales returned to year-over-year growth.
Broker channel and new products drive the growth plan
Simonds pointed to building momentum in the broker channel and sales investments that are improving performance in the fall selling season. TriNet is also expanding its product set with TriNet Leave powered by Cocoon, TriNet Recruit and TriNet Spend.
TriNet expected to file its Form 10-Q for the nine months ended September 30, 2026 with the SEC on or about October 29.