TrueBlue (NYSE:TBI) Announces 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. TrueBlue had a negative net margin of 6.97% and a negative return on equity of 2.55%. The company had revenue of $382.36 million during the quarter, compared to analysts’ expectations of $386.07 million. During the same period last year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. TrueBlue updated its Q4 2024 guidance to EPS.

TrueBlue Trading Up 0.2 %

NYSE TBI traded up $0.02 during trading on Thursday, reaching $8.18. The company’s stock had a trading volume of 81,607 shares, compared to its average volume of 318,347. The business has a 50-day moving average price of $7.63 and a 200-day moving average price of $9.31. TrueBlue has a 1-year low of $6.97 and a 1-year high of $16.14. The stock has a market capitalization of $250.06 million, a PE ratio of -2.13 and a beta of 1.49.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BMO Capital Markets cut their target price on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday. StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th.

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.