TrueBlue(TBI) - 2024 Q1 - Earnings Call Presentation

Financial Performance Summary - Total revenue decreased by 13%[2] - Net loss was $1.7 million, compared to a net loss of $4.3 million in Q1 2023[8] - Adjusted EBITDA was -$3.5 million, compared to +$2.9 million in Q1 2023[8] - SG&A expenses were reduced by 13%[2] Segment Performance - PeopleReady revenue was $223 million, a decrease of 12%[20] - PeopleScout revenue was $46 million, a decrease of 33%[20] - PeopleManagement revenue was $134 million, a decrease of 7%[20] Liquidity and Capital Allocation - The company has zero debt, with $36 million in cash and $140 million of borrowing availability[6, 21] - $10 million in share repurchases were made, with $45 million remaining under authorization[2] Q2 2024 Outlook - Revenue is projected to be between $400 million and $425 million, a decrease of 16% to 10% year-over-year[23] - Gross margin is expected to decline by 140 to 100 bps compared to the prior year[42] - SG&A is projected to be between $97 million and $101 million[24]