TrueBlue(TBI) - 2023 Q3 - Earnings Call Presentation

Financial Performance - Q3 2023 - Revenue decreased by 18% to $473 million compared to $576 million in Q3 2022[4] - Net income was $0 million, a significant decrease from $20.7 million in Q3 2022[4] - Adjusted net income decreased by 80% to $4.9 million compared to $24.3 million in Q3 2022[4] - Adjusted EBITDA decreased by 71% to $9.9 million compared to $34.5 million in Q3 2022[4] - Net income margin decreased by 360 bps to 0.0% from 3.6% in Q3 2022[4] - Adjusted net income margin decreased by 320 bps to 1.0% from 4.2% in Q3 2022[4] - Adjusted EBITDA margin decreased by 390 bps to 2.1% from 6.0% in Q3 2022[4] Segment Performance - Q3 2023 - PeopleReady revenue decreased by 15% to $283 million[35] - PeopleScout revenue decreased by 32% to $53 million[35] - PeopleManagement revenue decreased by 16% to $137 million[35] Liquidity and Capital Allocation - The company has zero debt and $47 million in cash, with $123 million of borrowing availability[31] Q4 2023 Outlook (13-week basis) - Revenue is projected to be between $450 million and $475 million, a decrease of 19% to 15% compared to the prior year[22]