TrueBlue(US:TBI)2025-08-04 21:00Financial Performance Overview - Total revenue remained flat at $396 million compared to Q2 2024[5,8] - Organic revenue decreased by 4%[7,8] - Net loss was $0 million, a significant improvement from a net loss of $104.7 million in Q2 2024[5,8] - Adjusted EBITDA increased by 147% to $26 million from $11 million in Q2 2024[7,8] - Gross margin decreased by 3 percentage points due to changes in business mix[7] - SG&A expenses improved by 7% due to disciplined cost management[7] Segment Performance - PeopleReady revenue was $213 million, a decrease of 5%[12] - PeopleManagement revenue was $134 million, an increase of 2%[12] - PeopleSolutions revenue was $49 million, a 20% increase, including $16 million from HSP, but decreased 20% on an organic basis[12] Liquidity and Capital Allocation - The company has a solid liquidity position with $22 million in cash, $54 million in debt, and $79 million of borrowing availability, totaling $101 million in liquidity[7] - Debt was reduced by $4 million, and working capital increased by $14 million[7] Outlook for Q3 2025 - Revenue is projected to be between $400 million and $425 million, representing a 5% to 11% increase compared to the prior year, including a 4 percentage point contribution from the HSP acquisition[18] - SG&A is expected to be between $93 million and $97 million, a decrease of 7% to 3% compared to the prior year[18]