NSP — what changed in the latest 10-Q
A section-by-section comparison of NSP's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-29 vs the prior 10-Q · 2026-07-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +26 | −20 | ~40 | 48 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-29
Three Months Ended September 30,Nine Months Ended September 30,
•Revenues per WSEE per month increased 4%, or $62, while the average WSEEs paid decreased 2%
Our revenues for YTD 2026 were $5.2 billion, an increase of 2%, primarily due to the following:
•Revenues per WSEE per month increased 3%, or $56, while the average WSEEs paid decreased 1%
The $45 per WSEE per month increase in direct costs is due primarily to the direct cost component changes as follows:
Text removed vs the prior filing · source: 10-Q · 2026-07-30
Our revenues for YTD 2026 were $3.6 billion, an increase of 2%, primarily due to the following:
•The cost of group health insurance and related employee benefits increased $25 per WSEE per month and increased 5.2% on a cost per covered employee basis in Q2 2026 as compared to Q2 2025.
•The percentage of WSEEs covered under our health insurance plans was 62% in Q2 2026 compared to 63% in Q2 2025.
•Reported results include changes in estimated claims run-off related to prior periods, which was a reduction in costs of $1 million, or $1 per WSEE per month, in Q2 2026, but did not impact costs in Q2 2025.
•Our continued discipline around our client selection, workplace safety and claims management has allowed for claims to be closed out at amounts below our original cost estimates, resulting in a reduction in workers’ compensation costs of $3 million, or 0.03% of non-bonus payroll costs in Q2 2026, c…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice