TrueBlue (NYSE:TBI) Posts Earnings Results, Beats Expectations By $0.04 EPS

TrueBlue (NYSE:TBI) issued its earnings results on Monday. The business services provider reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04, Briefing.com reports. The business had revenue of $382.36 million for the quarter, compared to the consensus estimate of $386.07 million. TrueBlue had a negative net margin of 6.18% and a negative return on equity of 0.55%. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 earnings per share. TrueBlue updated its Q4 2024 guidance to EPS.

TrueBlue Price Performance

TrueBlue stock opened at $7.34 on Wednesday. The business has a 50 day moving average of $7.63 and a 200-day moving average of $9.32. TrueBlue has a 1 year low of $6.97 and a 1 year high of $16.14. The company has a market capitalization of $224.23 million, a P/E ratio of -2.05 and a beta of 1.49.

Analysts Set New Price Targets

TBI has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. BMO Capital Markets decreased their price objective on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday.

TrueBlue Company Profile

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.