TrueBlue(TBI) - 2025 Q3 - Quarterly Results

Financial Performance - Third quarter revenue was $431 million, an increase of 13% compared to $382 million in the same period last year[5] - Net loss per diluted share improved to $0.06 from $0.26 in the prior year period[5] - Adjusted net income per diluted share was $0.03, compared to an adjusted net loss of $0.11 in the prior year[5] - Total company revenue for the 13 weeks ended September 28, 2025, was $431,266,000, an increase of 12.8% from $382,357,000 in the same period of 2024[19] - Net loss decreased to $1,916,000 for the 13 weeks ended September 28, 2025, compared to a net loss of $7,635,000 in the prior year, reflecting an improvement of 74.9%[22] - Adjusted net income for the quarter was $1,054,000, compared to a loss of $3,331,000 in the same quarter of 2024, marking a turnaround[22] Revenue Segments - Energy sector revenue more than doubled, contributing to strong performance in skilled businesses[4] - PeopleReady segment revenue increased to $251,436,000, up 17.0% from $214,792,000 year-over-year[19] - PeopleSolutions segment revenue rose to $46,967,000, a 27.9% increase from $36,713,000 year-over-year[19] - The company made $14 million in revenue from the January HSP acquisition[8] Expenses and Costs - SG&A expenses decreased by 8% to $92 million from $100 million in the prior year[8] - Adjusted SG&A expense was $88,438,000, down from $95,566,000, resulting in a decrease in the percentage of revenue from 25.0% to 20.5%[24] - Corporate unallocated expenses increased to $6,194,000 from $4,184,000, indicating higher overhead costs[19] - Workforce reduction costs were reported at $527,000 for the quarter, significantly lower than $2,809,000 in the same period last year[22] Profitability Metrics - Adjusted EBITDA increased to $11 million, up from $5 million in the prior year[8] - Adjusted EBITDA for the same period was $10,642,000, up from $4,679,000, representing a significant increase of 127.5%[23] - The company reported a segment profit of $16,836,000, more than doubling from $8,863,000 in the previous year[19] Cash and Liquidity - Cash position at the end of the quarter was $20 million, with total liquidity of $95 million[8] - Increased working capital by $19 million during the quarter[8] Future Outlook - TrueBlue expects continued stabilization in demand and growth from digital investments[9]