Insperity Inc. (NYSE: NSP), a professional services company specializing in human resources and business solutions, saw its stock plummet by 5.15% on November 1, 2024, following the release of its third-quarter 2024 earnings results.
While the company's revenue of $1.56 billion for the quarter was flat compared to the same period last year and in line with analyst expectations, its profitability metrics took a significant hit. Net income plunged by a staggering 93% to $3 million, down from the previous year's figure. The company's profit margin also declined sharply, dropping from 2.9% in Q3 2023 to a mere 0.2% in Q3 2024.
Insperity's earnings per share (EPS) for the quarter stood at $0.07, a substantial decrease from $1.17 in the same quarter last year. However, the company managed to beat analysts' consensus estimate of $0.33 per share.
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