On Oct. 4, the Department of Commerce reported solid job additions for September. The unemployment rate declined, and the wage rate remained firm. Last month's nonfarm payrolls report eased concerns among a section of economists and financial researchers that the U.S. economy is facing a near-term slowdown. At this stage, investment in staffing stocks with a favorable Zacks Rank should be prudent. We recommend three stocks: RCM Technologies Inc. (RCMT) , HireQuest Inc. (HQI) and ManpowerGroup Inc. (MAN) . T ...

HireQuest reports remote work and return-to-work strategies are more complicated than many executives and employees acknowledge. GOOSE CREEK, S.C., Sept. 16, 2024 /PRNewswire/ -- HireQuest Inc (Nasdaq:HQI), a global staffing and talent management company with more than 500 franchises around the world, has released a report detailing the complexities of remote work and return-to-work mandates. The whitepaper, Navigating Remote and Hybrid Work: Impacts on U.S. Companies and the Economy, provides an in-depth v ...

The Staffing Firms industry's prospects look mixed. While service activities are robust at the moment, their positive impacts are being challenged by contracting economic activities in the manufacturing sector. HireQuest, Inc. (HQI) , Kelly Services, Inc. (KELYA) and RCM Technologies, Inc. (RCMT) are benefiting from the rise in the adoption of remote work and the increasing use of technology. About the Industry The Zacks Staffing industry is a diverse sector encompassing companies that offer a comprehensive ...

Ceri Breeze Investment thesis In my previous article covering the company, I assigned it a Neutral rating despite finding its valuation appealing, due to concerns over several consecutive quarters of revenue declines. Q2 results showed lower declines in revenue, while management's commentary suggests the improving trends seen during the quarter, continuing into Q3. Insider buying activity during the quarter also suggests increased optimism. Shares remain attractively valued at an EV/Adjusted EBITDA multiple ...

HireQuest, Inc. (NASDAQ:HQI) Q2 2024 Earnings Call August 8, 2024 4:30 PM ET Company Participants John Nesbett - Investor Relations Rick Hermanns - Chief Executive Officer Steve Crane - Chief Financial Officer Conference Call Participants Kevin Steinke - Barrington Research Operator Good afternoon, everyone, and welcome to the HireQuest, Inc. Second Quarter 2024 Earnings Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your host, John Nesbe ...

HireQuest, Inc. (HQI) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 25%. A quarter ago, it was expected that this company would post earnings of $0.14 per share when it actually produced earnings of $0.12, delivering a surprise of -14.29%. Over the last four quarters, the company h ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-38513 HIREQUEST,INC. | --- | --- | --- | |----------------------------------------------------------------|---------------------------------------|----------- ...

Exhibit 99.1 HireQuest Reports Financial Results for Second Quarter 2024 GOOSE CREEK, South Carolina – August 8, 2024 – HireQuest, Inc. (Nasdaq: HQI), a national franchisor of direct dispatch, executive search, and commercial staffing services, today reported financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Summary ● Franchise royalties decreased 6.2% to $8.2 million compared to $8.7 million in the prior year period. ● Total revenue decreased 3.4% to $8.7 million compared to ...

Financial Data and Key Metrics - Total revenue for Q1 2024 was $8.4 million, a decrease of 14.6% compared to $9.9 million in Q1 2023 [10] - Franchise royalties for Q1 2024 were $7.8 million, down from $9.3 million in Q1 2023 [11] - System-wide sales for Q1 2024 were $134 million, compared to $153.5 million in Q1 2023 [11] - Net income from continuing operations for Q1 2024 was $1.7 million or $0.12 per diluted share, compared to $2.3 million or $0.17 per diluted share in Q1 2023 [35] - Adjusted EBITDA for Q1 2024 was $3.4 million, down from $4.6 million in Q1 2023 [13] Business Line Performance - HireQuest direct franchisees performed well in Q1 2024, while MRI network firm placements struggled [5] - Service revenue for Q1 2024 was $588,000, up from $534,000 in Q1 2023 [34] - MRI network advertising fund revenue contributed $101,000 in Q1 2024 [34] Market Performance - The staffing market in the Southeast performed better, while IT-related staffing faced challenges [51] - Logistics staffing has been tough but is showing slight improvement [40] Strategic Direction and Industry Competition - The company remains focused on organic growth and strategic acquisitions to expand its staffing offerings and geographic presence [9] - M&A is a key part of the strategy, with a focus on accretive acquisitions that strengthen the business while maintaining a strong balance sheet [31] - The company is well-positioned to capitalize on increased demand as employers become more comfortable adding headcount [28] Management Commentary on Operating Environment and Future Outlook - The company expects general demand for temporary staffing to increase in Q2 and Q3 due to seasonal factors [5] - Management is optimistic about the second half of 2024, despite current economic headwinds [15] - The company is focused on reducing workers' compensation expenses, which have shown a positive trend in Q1 2024 [8][12] Other Important Information - Core SG&A expenses decreased to $4.9 million in Q1 2024 from $5.7 million in Q1 2023 [6] - Workers' compensation expense was $572,000 in Q1 2024, down from $1.3 million in Q4 2023 [12] - The company had $16.1 million drawn on its credit facility and $24.2 million in availability as of March 31, 2024 [14] Q&A Session Summary Question: Are there signs of improvement in the technology staffing sector? - The company expects a seasonal impact but is uncertain if it will match historical levels [20] - The IT sector has shown some improvement, but overall demand remains challenging [40] Question: Will workers' compensation expenses continue to improve in 2024? - Management expects further improvement in workers' compensation expenses, with Q1 2024 reflecting only one month of the new policy [43] Question: What is the M&A pipeline like in the current environment? - The company is seeing more deals, but many are overpriced, with some opportunities arising from struggling smaller players [44][45] Question: How is the staffing environment evolving? - The environment is stable but not improving significantly, with employers being more selective in hiring [51] Question: Will the typical seasonal ramp in Q2 and Q3 materialize? - The company expects sequential improvement in Q2 and Q3, but the impact may be muted compared to historical trends [54]

HireQuest, Inc. (HQI) came out with quarterly earnings of $0.12 per share, missing the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.29%. A quarter ago, it was expected that this company would post a loss of $0.10 per share when it actually produced earnings of $0.03, delivering a surprise of 130%.Over the last four quarters, the company has ...