Barrett Business Services (BBSI) Reports Q1 Loss, Tops Revenue Estimates

Core Insights - Barrett Business Services (BBSI) reported a quarterly loss of $0.02 per share, significantly better than the Zacks Consensus Estimate of a loss of $0.31, and compared to earnings of $0.12 per share a year ago, indicating a 93.55% earnings surprise [1] - The company achieved revenues of $1.91 billion for the quarter ended March 2024, exceeding the Zacks Consensus Estimate by 1.62% and showing an increase from $1.79 billion year-over-year [1] Financial Performance - Over the last four quarters, Barrett has consistently surpassed consensus EPS estimates, achieving this four times [1] - The company has also topped consensus revenue estimates two times in the last four quarters [1] Stock Performance and Outlook - Barrett shares have increased approximately 4.9% since the beginning of the year, while the S&P 500 has gained 5.6% [2] - The current consensus EPS estimate for the upcoming quarter is $2.33, with expected revenues of $2.03 billion, and for the current fiscal year, the EPS estimate is $7.78 on revenues of $8.24 billion [4] Industry Context - The Outsourcing industry, to which Barrett belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, indicating potential challenges ahead [4] - Genpact, another company in the same industry, is expected to report its quarterly results on May 9, with an anticipated EPS of $0.69, reflecting a year-over-year change of +1.5% [5]