TrueBlue (TBI) closed the last trading session at $8.16, gaining 10.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $12 indicates a 47.1% upside potential.The mean estimate comprises three short-term price targets with a standard deviation of $1. While the lowest estimate of $11 indicates a 34.8% increase from the current price level, the most optimistic analyst expects the stoc ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $382 million, down 19% compared to the prior year due to uncertainty and client caution in the staffing industry [5][27] - Gross margin was 26.2%, flat compared to the prior year, with various factors affecting it, including pricing pressures and changes in revenue mix [29] - The company reported a net loss of $8 million for the quarter, with an adjusted net loss of $3 million and adjusted EBITDA of $5 million [33] Business Line Data and Key Metrics Changes - PeopleReady revenue decreased 24%, with segment profit margin down 200 basis points [34] - PeopleScout revenue decreased 31%, with segment profit margin down 490 basis points, impacted by lower client volumes and the loss of a large hospitality client [37][38] - PeopleManagement revenue decreased 5%, but segment profit margin increased by 90 basis points due to disciplined cost management [40] Market Data and Key Metrics Changes - Overall market demand for temporary labor and permanent hiring remains suppressed as clients focus on reducing operating costs [27] - Commercial driving services showed strength, delivering double-digit growth for the quarter, marking the third consecutive quarter of growth [28] Company Strategy and Development Direction - The company is focused on advancing strategic priorities to capture market share and enhance long-term profitability, including digital transformation and expansion into high-growth markets [12][17] - The rollout of the proprietary JobStack app is a significant milestone in the digital transformation, allowing for better engagement with customers and associates [14][88] - The company aims to simplify its organizational structure to drive enhanced focus, growth, and profitability, having reduced operating costs by 17% for the quarter [21][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenging market conditions but remains confident in the long-term staffing outlook, citing evolving workforce needs and structural staffing shortages as opportunities [24][25] - The outlook for Q4 2024 anticipates a revenue decline of 24% to 18%, reflecting ongoing market trends and uncertainties [43] Other Important Information - The company has a solid balance sheet with no debt, $15 million in cash, and $133 million of borrowing availability [41][42] - The company repurchased $4 million of common stock during the quarter, leaving $34 million remaining under its authorization [41] Q&A Session Summary Question: Customer count trends and revenue weakness - Management indicated that despite market challenges, customer retention and new customer wins are strong, positioning the company for growth when volumes return to historical levels [48][51] Question: Revenue growth rate by segment and bill pay spread - For Q4 guidance, TrueBlue is expected to decline by 21%, with PeopleReady down 24%, PeopleManagement down 13%, and PeopleScout down 30% [54] - Bill pay spreads showed pay rates up 1.5% and bill rates up 0.2%, leading to a margin decline [55][56] Question: Impact of hurricanes on operations - The company is actively involved in cleanup efforts post-hurricanes, with a slight negative impact on Q3 and Q4, but expects net neutral to positive outcomes from cleanup work [63][64] Question: Renewable business outlook - The renewable energy pipeline remains strong, with new wins expected to bring revenue in 2025, despite recent weather-related slowdowns [66][67] Question: Hospitality client in-sourcing trend - The loss of a large hospitality client is viewed as an outlier, with other clients maintaining contracts and planning to return to outsourced recruitment as volumes increase [70][72] Question: Business trends in October and holiday season impact - October trends aligned with guidance, and customer sentiment remains cautious due to uncertainty in workforce planning [74][75] Question: Incremental margins with revenue growth - The company expects improved margins with revenue growth, projecting incremental margins of 20% to 22% with a 10% revenue increase [78][80]

TrueBlue (TBI) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 52.17%. A quarter ago, it was expected that this blue-collar temporary staffing company would post a loss of $0.03 per share when it actually produced a loss of $0.35, delivering a surprise of -1,066.67%.Over the last four qua ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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: September 29, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-14543 ____________________________________ TrueBlue, Inc. (Exact name of registrant as specified in its charter) ______________________________________ Washington 91-1 ...

TRUEBLUE REPORTS THIRD QUARTER 2024 RESULTS TACOMA, WASH. - Nov. 4, 2024 -- TrueBlue (NYSE:TBI) today announced its third quarter results for 2024. Third Quarter 2024 Financial Highlights • Revenue of $382 million compared to $473 million in the prior year period • Net loss of $8 million compared to net loss of $0 million in the prior year period ◦ SG&A expense reduced by 17 percent to $100 million compared to $121 million in the prior year period ◦ Adjusted EBITDA of $5 million compared to $10 million in t ...

TACOMA, Wash., Oct. 28, 2024 /PRNewswire/ -- PeopleReady, a TrueBlue company (NYSE: TBI), has been recognized as a Leader, the highest distinction, on leading research firm Everest Group's U.S. Industrial Contingent Talent and Strategic Solutions PEAK Matrix® 2024. This marks a second consecutive year of achievement, reinforcing PeopleReady's role as a dominant force in the industrial staffing sector. PeopleReady logo (PRNewsfoto/TrueBlue, Inc.) PeopleReady logo (PRNewsfoto/TrueBlue, Inc.) "PeopleReady cont ...

TACOMA, Wash., Sept. 30, 2024 /PRNewswire/ -- TrueBlue (NYSE: TBI), a leading provider of specialized workforce solutions, and Centerline Drivers, a TrueBlue company and one of the nation's most experienced, reliable, and respected partners in the transportation business, celebrated its fourth annual "Respect the Drive Month" to recognize the important contributions of truck drivers nationwide. The company also introduced a customer awards program to acknowledge companies that support the trucking industry. ...

TrueBlue, Inc. (NYSE:TBI) Q2 2024 Earnings Conference Call August 5, 2024 5:00 PM ET Company Participants Taryn Owen - President and CEO Carl Schweihs - CFO Conference Call Participants Mark Marcon - Baird Kartik Mehta - Northcoast Research Jeff Silber - BMO Capital Markets Marc Riddick - Sidoti & Company Operator Greetings and welcome to the TrueBlue Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation ...

Q2 2024 EARNINGS 国 trueblue Forward-looking statements and non-GAAP financial measures This presentation contains forward-looking statements relating to our plans and expectations including, without limitation, statements regarding the future performance and operations of our business, expectations regarding stabilization in demand, and expected growth from our digital investments, all of which are subject to risks and uncertainties. Such statements are based on management's expectations and assumptions as ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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: 001-14543 ____________________________________ TrueBlue, Inc. (Exact name of registrant as specified in its charter) ______________________________________ Washington 91-128734 ...