TrueBlue (NYSE:TBI) Posts Earnings Results

TrueBlue (NYSE:TBI) announced its earnings results on Monday. The business services provider reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04, Briefing.com reports. The company had revenue of $382.36 million for the quarter, compared to analysts’ expectations of $386.07 million. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.55%. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. TrueBlue updated its Q4 2024 guidance to EPS.

TrueBlue Stock Up 0.2 %

Shares of TBI traded up $0.02 during midday trading on Thursday, hitting $8.18. The company’s stock had a trading volume of 78,059 shares, compared to its average volume of 318,331. TrueBlue has a one year low of $6.97 and a one year high of $16.14. The stock has a market capitalization of $250.06 million, a price-to-earnings ratio of -2.13 and a beta of 1.49. The company’s fifty day simple moving average is $7.63 and its two-hundred day simple moving average is $9.31.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TBI. StockNews.com cut TrueBlue from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. BMO Capital Markets cut their price objective on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday.

About TrueBlue

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.