NSP - Earnings call transcript Q2 2024

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Operator

Good morning. My name is Jenny, and I will be your conference operator today. I would like to welcome everyone to the Insperity Second Quarter 2024 Earnings Conference Call.

[Operator Instructions]

Please note, this conference is being recorded. would introduce I speakers. time, this like today's to At

Chief the Sarvadi, Chief Executive Joining the Treasurer. call Finance, Mr. to Paul Douglas please I'd of this Vice Officer Board time, At of over Sharp, us are turn Douglas go Chairman ahead. and like and and Executive President Sharp. to Financial Sharp, Officer;

Douglas Sharp

Thank you. We appreciate you joining us.

begin this morning's for outlining call. plan our by Let me

on and outlook quarter financial on guidance Paul partnership full our behind an remainder solution details accomplishments, our First, will third the I'm will the our second and of I XXXX on the guidance. year. then financial for discuss comment provide update the to our return update to going for an year our results. of Workday recent quarter including the implementation to the strategic

will We a end with call then question-and-answer session. the

like and I during forward-looking you Now uncertainties risks, which would Mr. I call, make today's to before may or statements Sarvadi assumptions. remind to I subject begin, that are

of In addition, measures. our financial non-GAAP some include may discussion

of public X-K detailed are financial materially could differ on that actual For statements, cause the a including the uncertainties and which our to the any see company's reconciliations please risks of results measures, forward-looking and filed non-GAAP today, filings, Form from website. more available discussion

lower reported EBITDA by was primarily costs, driven pricing our continued we and XXXX $X.XX, expenses. range, benefit earnings above to discuss which we end a $XX expectations adjusted operating XX% of our in QX our reported results forecasted let's to second outperformance increase QX Now adjusted and compared in The to in lower-than-expected the quarter over a XX% EPS increase million. strong of high

base and hiring increased QX for at XXXX, average the summer a our significantly client period. worksite paid typical than approximately The net lower lower level our growth sequentially growth expectations than metric, $XXX,XXX. number of of As included increase QX for although over in to the employees our

for in in XXXX current in XX% few impacting and from place increased a pricing costs and a in environment. at our expectations. environment, the paid X% and this employees strong and employees benefit and at the health Gross of QX paid care than second although continued quarter. which an the similar new minutes, marketing comment costs. Client profit sell came expected included compared And sales, below by to sales clients, on business QX retention offset remained into when a in as of XXXX, as will efforts worksite to was more XX% Worksite Paul prospects by lower spike a level decline

of our combination with and below plan, other payroll associated including strategic implementation million workers' The operating line Workday our increasing QX partnership. including areas, QX in of taxes expenses and were forecast. direct the $XX of were with over generally our XXXX managed compensation XX% cost

year-to-date service Our partnership the our offerings. with associated operating our technology long-term million and and strategic in expenses ongoing the along growth $XX investment now include with

rate The and above of of in QX rate XX% quarter effective was which XXXXs XXXX's tax XX%. of second came at

repurchase to returns shareholders regular provide the shares. through to our We our our program continue and of dividend

million million balance. During of over ended at million $XXX the And stock $XX the $XX increase million quarter, we in of cost of XX, and facility. $XX credit under with cash available million. paid repurchased XXX,XXX we a QX dividends our out had $XXX December an shares XXXX adjusted We cash, of

to I'd over this turn Now Paul. at to time, the call like

Paul Sarvadi

Workday with an strategic plans the partnership half and and on our second in over on I'll begin call. of our business next beyond. prospects results I'll on you Today, you, on Doug, our the up in medium-sized solid quarter year, Thank joining all the environment to the a year for I'll market second comments our opportunity and financial for marketplace. finish thank growth and with progress first with capitalize follow and small and half challenging our update

adjusted QX in our Our low in of EBITDA at EPS even and financial the high paid of our the employee coming while performance was exceeding end range end worksite expected range strong, for growth.

and management gross our year Our produced outperformance the upside combined strong and at profit pricing expenses financial over with to last direct lower operating cost and line achieve guidance.

we the decline over with continuing quarter combined in employees year small of business primarily attrition. QX paid last community. At in worksite economic was large the of result Our through the the the effects year-end, period same discussed account our challenging environment X% last

stress activity, relatively hiring indicating economic reflects of reported low client from variety was marketplace reflecting details real-time and data climate. evident internal This inflation. a commissions a business interest companies, personnel Last our rates the quarter, in and of the of believe net small overtime to we including issues, paid pay level we low a economic levels sales at nominal weak which from

level a the going into and stabilization high indicated the for least second quarter client at these potential metrics. of information optimism Our of survey

our hiring However, higher and client weakened a reflected expected. and net QX prospect base further of in client in uncertainty than decision-making level

Now further more these, medium-sized and we during sales often pricing in seen such small- the and recent increased leads periods tactics This lengthening quarters and have by to and marketplace, cycle. aggressive as an the decisions businesses. as the hesitancy sales we to have seen buying hiring level in before of also

believe are the the the worksite from the half in previously with paid in levels sales targeted X% marketplace, backdrop year. significant of against Even are I sales results XXXX. from level out worksite of climate. the economic of comprised we success Both half approximately first sales line a these I solid in what even and these BPAs same of of booked year, headwinds the over sales of and book for employees XX% for the the employees year period sales political the believe we booked in sales. the first face in and though is have last These of uncertain paid half had a new Now over first increase

has retention strong in QX. to continued client be Our

hiring point employees starting into caused for net paid our of previously base, we half lower-than-targeted worksite head combined nominal with from booked However, a the XXXX. client paid employees lower the within worksite second sales as

for XXXX. The acceleration starting year well is now for foundation will business have which The be an and beyond. a expect sales next have outlook more within for for lower lays residual into strong very for would the growth second year the average dynamic positioned impact point reestablished. retention, dampening growth sequential consideration income half believe shift and out lower quarter of significant growth unit before We we're in second employee model. important the worksite and expected in potential our We growth the to half the balance the X

difficult the the from to going confidence second Our hiring comes client into and retention from period help applying sales the growth improve to half base. reignite net even in with the learnings recent from no

enhance year. significant believe we for fall will and initiatives X all-important have that selling over We of period performance retention the balance the the

assigned performance represents forward. This implementation our distraction balance through a our in last marketing entire for a improve corresponding experience, I going of mobilized was First, the account-based now second our strategy, initiative opportunity motion mentioned and -- our and quarter of bit to BPA sales year. retooled but quarter new the of BPA sales level of the accounts a the team training. This and

generated sold half marketing first calls success over year, environment. discovery booked than of last and assisted of more this the year our employees first even challenging marketing the Secondly, in business the half

increased opportunities have spirit We launch ready sales in that marketplace the brand campaign will over differentiate a and of new year. balance in national to the we believe the

incentivize to contribute and dynamic has the California. evaluation both the base. current with reached Yesterday, of with over leadership and we strategic the have efforts strategic Third, sales to across meeting from led partnership balance This thorough retention X-month Workday. approaches And our firms completed and each a with sales clients staff senior segments for the retention thorough a last of ahead. to partnership segment different our new We the we Workday completed our from the not the face-to-face our in last least, evaluation different but of of week our year. sales has prospects, progress potential of signing point agreement to client

and the with PEO game tenant firms plan. a including plan shortly. we enablement and for platform to establishment date begin Workday, deployment our which All The together the the to market, commitment internal co-selling deployment way. testing and our key into with tenant, of the client our be X early corporate made next are on of is co-marketing for of built, corporate expect excited being our application solution the of market being co-branding, to by year. tenant The use will progress larger go to both are begin well and initiatives, tenant we embedded the the We Insperity's team investment the track, using and Insperity effort on round go-to-market and is client Workday next plan, target to the

We that the believe valuable deployment through tenant and PEO clients continuing Insperity systems. our our the deployment out experience tenant. servicing scheduled QX. is and We our training integrations build on the provide corporate of are ongoing Administrative employee key future training commence for to to insights in the of is will client into

our PEO the and of solution We from definition and used proposed foundation development of joint well we're tenant down tenant our We've are taking delivery product design design shape, The client design. progress on initial making efforts. road on and shape the solution. further learnings the the the is excellent deployment solution the to

the our pricing continue our our to services through providers client to implementation and platform. against to to joint well for clients. the value build the our teams strategy progress and support out efforts We'll the continuing tracking solution solution system deliver plan represent to train integration are appropriately project refine our We model to and required product plans. underway, are The to our implementations enable and

our a design started process solution clients joint the migration the for good have new beta identify could and fit support be We preselection process. product that to to

are introduce sales our to other goal We to a leads the each selling the of Insperity companies, head sharing to both drive and begun established few campaign as directly refine motions over next test -- formally Workday We volume to system act opportunities. our we our to season. year-end active on co-selling on have into the the to very exchanged months is an educate leads increased sales continuing to qualified processes these between the team relationship

leveraging available. an opportunity to now as of lot We products these clients our solution prospective peripheral amount is related clients a of many investments the HCM meet believe Insperity there's efficiently. their and that joint before company's sales current core even has can make the for system prospective incredible sense well. Workday needs of each of to

clients hard prospective room see are working to these actively from with put that offerings. searching are We in and each the other value

will we and QX, to advance customer PEO the continuing both begin deployment and are enablement In client new We new client solution. for for the to implementations playbooks design our existing of strategy. onboarding migration

significant balance both X objectives. the the is go-to-market meeting outcome over leadership the plan XXXX year first recent to Another of in of months effort into integrate senior the the business the companies'

are year, term, in next strategic a against with our long the excited results the we XXXX back plans to I'd the pass into business and growth pleased remain about to than difficult about this half Workday So including We're for possibilities the Doug. partnership. like summary, point, first to At our call our reignite energized half we for expected environment. second more the

Douglas Sharp

of and for our lower Paul. QX, prior to year. XXXX the Thanks, expectations the expect of our We midpoint full guidance combination of earnings the by half be year slightly earnings over above second offset upon based outperformance partially in the the now

environment. As in by uncertainty ongoing the to our impacted expect economic both now prospect be base client Paul mentioned, just political the we and and

trends point which slight to strong of a X.X% range lower combined earnings favorable half lowered into mostly half XXXX starting XXXX. to these decline with cost XXX,XXX impact expense is to compared offset last from over The year worksite operating XXX,XXX and going benefit average X.X% the of paid pricing, expected this by of employees guidance savings. we full the of in factors, Given be employee outlook XXXX, worksite to to the have second our a is

this benefit During been and year, to pricing favorable when half our our have initial of slightly compared the first budget. costs

year. expect factors We the these continue remainder to over of the

result areas salaries in forecast, a lower our have planned employee the prior G&A. on worksite savings expense our As we outlook, from of primarily of and operating

of factors, adjusted $X.XX our and XXXX will on implementation full the Workday continue on on EPS efforts in to these of with the partnership. midpoint focus the guidance now planned and We $X.XX. forecasting to of from strategic previous $X.XX $X.XX to are spending up a Based we our range year

in EBITDA range adjusted of million. a We now $XXX $XXX are forecasting million to

XXXX. are compared to down of As X.X% for paid X.X% employees to QX forecasting QX, we worksite from

for we million forecasting the benefit of a $X.XX Earnings by XXXX adjusted and to from significantly are earnings, costs Workday $XX to planned in are adjusted to As the in $X.XX. period partnership in we are EBITDA XXXX. of now prior QX strategic EPS impacted -- $XX range and QX million comparisons in low investments that

to for Now at questions. like up this time, the I'd call open

Operator

Instructions] [Operator

question first Nicholas of Your William is from Blair. coming Andrew

Andrew Nicholas

helpful. for to that sales I outlook you employee, guidance side by execution lower second there a about softness maybe hiring further, a client new bit between talking front, start bit a net little the versus way break the worksite that maybe be reduced the change. to or wanted expectations Is half unpack on could out business would if

Paul Sarvadi

outlook question. balance point. growth the question. Thanks is for the the Andrew. Sure, of unit the year on The starting biggest the impact for for Good

reduce We because I to been is election the uncertainty the expect from that's continue that least hiring client benefit evident at also, level though, high, to through that any the period. of continue did and

evolved is caused there number the were So recent to we the X significant as to point which by But be effective activity very desired And lower -- believe especially kind biggest sales is in this last but I starting starting quarter compared the affected of biggest the the hiring, at that. base contributors in target of start. hitting though paid June, to year. client the number worksite lower what in course, the is had issue Even for than that lower environment, that is issue our the employees. reflected point less than

Andrew Nicholas

quarter? Paul, more I'm some then deals. well. it's think, talked you close that your to how quarter activity? I would own briefly, Doug, just versus had prepared these touch aggressiveness when on wondering competitive more your characterize in I last environment be if and you aggressive that And has firms can And or in I mean, that competitive about remarks, of gotten last worse think that and as you or the But maybe participation or different how very of harder kind PEOs

Paul Sarvadi

Yes.

I think been started it's year, more throughout it while. year a say aggressive pretty more as much First would ago has it's that been. It's little than last into year-end. about way got of all, to -- I no, got you probably aggressive any don't this more -- the a same. been then the for get got And

continued have accounts. our share to We win the of

especially And that best. I know would say we've us been effective fit which -- we in accounts

the accounts environment. do percentage we make to in. that same so ones we accounts sure And have of that our winning that But the the work competitive in are those bring that

affected been of that So more kind activity it's than that's And the really anything. volume level the natural. more overall

in making We that more hesitation also a have seen. decision final we've

their starting that We also actually of deferred accounts some sold had kind point. have that been

So immediate all count. that weighs into worksite your employee

Andrew Nicholas

the guidance we're mentioned, so worksite actions more could from It wondering function and and Doug, if looks there's Very savings cost that's EPS outlook, in. like improve maintain care the if of less the able G&A script? on here. modestly as then -- an of -- and you the just the that one not your any employee conservatism of just you offset of conservatism guidance EBITDA I outlook in lowered and a the but and the health or maybe business And piece squeeze primarily if if salary to helpful. the some I'm in

Douglas Sharp

the it's stronger if relative the been X. that you Well, things. I X health getting our look it's a side, we've initial pricing think care targets. to But on combination of It's

side is the cost much a things. of piece as that's of it So

trend X% remember, on you I the into the X.X% care initial year, medical or commented cost health going in If to range so.

the If over the that first remainder of continuing low the range, of the little see year. less that through at maybe of the half sort you it's we continuing slightly even of year, the end. low look a And end trend been trending bit than

where change and of came result think health We for on I appropriately second quarter-to-quarter. quarter and feel like our any in issue always from the this you as of care is thing, quarter have number, I you know, some up in little of we for more off be volatility what came with delays came behind experiences first intent reserve processes a end to we at remember, bit conservative that the still you conservative and that the because off Our number if that we're -- the we recorded that can of IBNR. the of that's

estimates, care year overall, comp the always So conservative both the favorably thus into intent is we want -- trend in been health of initial but side. lower conservatism, workers' our the has on even And be course it it going we and to the trending a the side what range. ought feel we over my far. the of feel year to like still level And of with towards end

Paul Sarvadi

that a on our the It just we our were never in time aggressive benefits. be add a would in there's the ever of where to nature be conservative business business, outlook number. the to relative makes sense I would such

Operator

Baird. question coming next is of Marcon Robert Mark W Your from

Mark Marcon

So X sets questions. of

level the Workday. partnership. the about if leads that talk around on quality little of really so regards The seeing appreciate I'm to spending the how can a you've been first with the set of Paul, currently you're bit update cooperation you just wondering the much and revolves Workday far

incorporate new wondering you terms how to be which of much going to got are to got going greater launching? to thoughts to and this are in your year? mentioned related And that year clarity you're preliminary in for campaign, going Workday how next you any Workday, the if your lastly, terms spend what you're you've with you've now of regards I'm updates year

Paul Sarvadi

the question. Thanks Great. for

it in it's mentioning we that we have forward this that nothing had hammer on, where and fast envisioned remarks, encouraging like was to I where was evaluate down wanted fronts leadership et going, all meeting to all -- I we very put what ever the really that. a -- just moved on in as we -- definitely, to my I as strategic X-month the hit partnership. -- are, moves of to moving And know, as So as point everything we're cetera.

lead drives That's the the as both definitely, effort we with sales But mentioned, to I of this what quality communicate organizations. flow.

position And so ways leads of good and have less we more were with do of puts the X targets, to qualified, done activity companies the volume believe of us then shown really together our that has be There strong balance wall that has allows year up could the quicker next the already to in some that's thrown the piloting the month I critical. process already very stronger over or XXXX put signs. some a level begun and and mud plan that against into over but the that work we've would

you game always know, plan. their As in respond what's people to

just into things them was to opportunity started this time beyond place. plan. hard Workday's those our in to It's build in barely build was the the predict agreement. first but we into be plan, going of to Now it to things some And -- it

the going work take excited are that plan together about and down market target where both well sets companies' road with market working into that are of to going a we very us this both companies together. after So are to this the X product how now is

manner that a into preparation for portion PEO quicker opportunity to relative we're deployment that timing and be joint of we this solution being solution that our embedded hand glove bringing getting in to this in believe out a and significant value is cost, to disruptive And for marketplace. going the in the lower of marketplace enablement fit of a

I that. about encouraged yet, that have things nature. of very we're don't conversion So rates And

account of ability post quite upside So benefit sell of because lot to into and we for didn't them. this our results of year, bit size build the but potential there's a the of simply the a

firms arrangement the sorry, we're after pan. about flash you want that? cautious a about in Do growth a it, provides that continually both for ahead. long-term after for We'd So this target timing comment was in about that. to being excited What We're content market. not but I'm investments. the go

Mark Marcon

if Workday to appreciate to to they as investments going was into was I incorporated wondering if the campaign, be -- were I regards discussion well. the just but with going

Paul Sarvadi

about -- supports be there our the communication an different so ongoing to So especially then is reinforces kind as segments I of mentioned, that emerging of there and growth customers. introduces and will and -- higher we and even effort and the our of introduction partnership, end talked the

I that something that. see of are yes, It's -- at for dynamic too you point. the that. there year. don't will be in for that talking is So early aspects national some But campaign not this about next we'll

Operator

Jeff is question Martin from of coming Roth Your Capital next Partners.

Jeff Martin

follow-up was next And to of Doug investment the this I maybe introduce as for year. balance into think to that, year about a and

follow So on that. up I'll

Douglas Sharp

Yes.

So if of to our about are from million along cost this resources utilization the of you year. that dedicated in recall, resources, coming internal into our our fully this year, for costs $XX neighborhood with both associated this the with Workday we were estimating partnership,

just it's through reported, the of first second $XX second or area the in quarter, the I million so. through -- As quarter --

still still quantify remainder so. and of like in So investment. that investment the is we next forward million specific year's like We for didn't through $XX the fourth year in quarters. this dollars the We same third ballpark the look of or that

quarters. that first sorry, in say of majority the I'm did years. first of we weighted However, the of heavier couple is the couple full investment

look million, So as be at ballpark. to in same year. should it generally XXXX the this you $XX relative it investing in that we're

Jeff Martin

you that starting then secondly, on maybe trends last specific pharmacy my us for And with you benefits And -- entire curious primary then you organization just changes to with implemented to where an can the were you've Workday And plan that costs, update give year? trends. are Workday. care implementation familiarize frequency know the that's then health versus finally, general questions, internally? helpful. of solution I with That's something

Paul Sarvadi

Yes.

on for are of even question, to early the quarter, the that the I leadership Workday. moving we remarks, training system. to track staff fourth game our whole on next are on of we prepared be I be plan to And your and as process can all part in implementation so So in handle corporate as mentioned our people my planned. first And the trained in a certain can, staff of the now on in year having way, moving we for

Douglas Sharp

Yes.

So pharmacy remember our elevated. last if you trends year, were

You cetera. the particularly with butanes, and the like dealing the drugs specialty Ozempic [indiscernible] et

So obviously, being year we last Thus that year. feel like far back, I pharmacy we less an and trend, year, this had so but was obviously, year, elevated those still we've year, wouldn't drugs seen about the XX%. last this this more trend than way or normalization used, all it's say it XX% are

you see trend that has So down. come can

Some comparisons, modeling that's in seeing that's what for we're of year-over-year the we're and our but comparisons this it year. is what

Operator

question next from Tobey is Truist coming Your Sommer Securities. of

Unknown Analyst

fall follow-up This is in Workday season. the bit little Jack a just a Maybe Wilson of on on selling for Toby.

be material will not early still So it it Could is early a it? too national in like of XXXX? to be see sequential the still sort of that Or in driver sounds campaign. it growth

Paul Sarvadi

little can the Workday that to about a relationship conservative a more bit is it's little bigger its is harder difficult absolutely of to be it's talking it enormous. predict, timing me I and The No, potential be. want conservative be accounts. potential because it to for and because -- they're chunky about And

can it January effective, X numbers. affect barely our just it's if still hey, So

really most for the although So these the larger the we yet that I'm of some picture start least balance didn't into at January build wouldn't accounts year until anyway. hopeful because effective, of

-- excited operational on opportunities so on the that things are working into very the all faucet, the But starting the we We're And don't And turning So the turn turn on all plumbing. to it about I'm now you what way the we're working level start. are. extremely when faucet. will down this you done together now well. we've you're

on turn no it make up. and little start it a sure anywhere to You then you crank there's leaks and

happening year. of to what's the exactly over going balance be the that's So

We're the about minimum, a impactful to this at going lot make we're how very 'XX. learn to in super

that business. see in -- good certainly adding world, up believe our some into I And leads. to However, following activity levels we're converts going see usually

getting even to the XX new of considering get to the to are closer we most within on. XX range closer fits of So we're anybody offering, months Remember, takes when for the to launch Workday. getting and where companies, to going timing on just it

when near this customer fall we're and and we'll be in suits to be that make that's that's doing a degree the the range, 'XX, And and So helping will be they're in definitely we we co-selling what getting sure them. direction will that doing that going right period.

Unknown Analyst

a maybe on just then X And Okay. quick guide. the

the So like quick higher just quantify pieces is possible math, in it of looks guide. moving $X million out of EBITDA it sort to prior Is the that. midpoint the than

Paul Sarvadi

why when year it because [ where were. course, volume that in but $X point primarily. ] all of is and instead that's quarter you starting that's difference, to quarter acceleration only ] have up shifts we but out I that that X. volume But kind volume is than the being the quite Yes. mean drag, that obviously The a negative and due X [ is The lower of million. when we the by fourth of beat the bit is going count pieces are, of And that offset a that the is third worksite that. begins more the growth mostly -- employee

level worksite the employees, if we by match has also lower the then a also, been that. which manage of offset And trend benefit have side, was and strong. we to pricing That expenses mainly lower

of And that so also some helped in there.

last we're is, where but So where the appropriate we guidance believe there's from starting upside based guidance still year. on is we're see this the of -- half to what hopeful in the the

Operator

question Robert next Mark W. Company coming our is Marcon Baird And from of

Mark Marcon

-- bit about if getting clients per I And you gross was stronger. could past then if what's improved quarter, a along you accrual is you're you just margin little profit driving worksite any there mentioned wondering bit this gross are about hesitant, Were pricing importantly, but actually that during little benefited? or was reversals to the wondering plan? that employee talk the could And lines more I relative anything a more pricing strong that talk those

Douglas Sharp

comment Yes. think Obviously, the breach, that going as estimate IBNR to on to that us health make you adjustments. when I there's was because, when obviously, far with for to mean respect as it on any in a appropriate this care was very change a your conservative I process. happens, payment going changed recall back

impacted whole that. provider the But insurance our of from to the the flow carriers by information to the by that because carrier was participants insurance

at first feel we quarter, account. end of that we IBNR so made like conservative take adjustment an the to into appropriate And the

it into proved reserve. Going definitely to quarter, -- second it was it the that appropriate where that But reduce extent we to could was conservative. the

claims okay? on second impact hits So second particular off and off than okay? we initially that lower came earnings, -- medical there ran the estimated reserve paid So yes, the what quarter as be, had really you'll issue quarter, breach of the were that the relates adjustment the in to that was a that to side it

is question? second What the side? your of On part the pricing

Mark Marcon

that's like going sounds it well. because Yes,

Paul Sarvadi

And all have that the in is pricing mind, includes allocations, it our really going business. month, renewing Yes, cost-related direct is our in what and course, the cetera. -- well. allocations, price we of of world, markup correct we et total do and And of keep course, new every

aggressive on able continue where economic but the we're new continuing with we want we're sides, renewing, be to both to to to pricing effective to have climate. deal be and very efforts also So

with marketplace. of so, our offering reinforced to breadth, to for a mentioned last our in level more more be couple customer we that on, And than new approach last money. as more anybody We quarters coming factor. depth a be continually, to differentiating the -- things competitive even But to quarter, offer as of we do we're premium is the with and ago service else, marketplace. a aggressive worth and care It's of the more customers do able try-and-buy really, maintaining position the

and team of we've all work. is a the and And with But will we acceptable able pricing make to in well have to make range that premium our that sure that customers make is group move. terms review that that, been to sales working do within that

Mark Marcon

would the pass-throughs? terms providing? that a How a frame services out few just Or pricing stripping you're that you're would percent? how to, great. you say, up you year that ago characterize the if in of That's relative Is

Paul Sarvadi

Yes.

as So same, renewing then up higher on business, business, actually the new definitely listen, plan And about hair our is. the strategic a on maybe. just

Operator

session. Well, will we question-and-answer now reached end over remarks. Mr. the Sarvadi appear I to of to the the for closing turn call have

Paul Sarvadi

this year. thank today, we're you. super we to we the positioned are we that how excited we to for forward. and that our believe initiatives of evolved drive last this going again, about plan. We're specific will what the Workday that how has thank half about plan our us point and Once relationship means reigniting Well, the us growth want game have, and in and toward excited everyone participating for that

So to once We forward quarter. you. participating. again, thank look dialogue next next our you for Thank

Operator

Thank you conference. very conclude today's much. does This

Thank day. wonderful and this at time, You a your phone may have your you participation. for disconnect lines

Insperity (NSP) 1 Aug 242024 Q2 Earnings call transcript