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

TrueBlue (NYSE:TBI) released its quarterly 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 return on equity of 0.55% and a negative net margin of 6.18%. The business had revenue of $382.36 million during the quarter, compared to analysts’ expectations of $386.07 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The company’s quarterly revenue was down 19.2% compared to the same quarter last year. TrueBlue updated its Q4 2024 guidance to EPS.

TrueBlue Stock Down 3.4 %

Shares of TBI traded down $0.26 during mid-day trading on Tuesday, hitting $7.40. The stock had a trading volume of 151,478 shares, compared to its average volume of 318,979. The company has a market cap of $226.22 million, a PE ratio of -1.97 and a beta of 1.49. The company’s fifty day simple moving average is $7.64 and its two-hundred day simple moving average is $9.34. TrueBlue has a fifty-two week low of $6.97 and a fifty-two week high of $16.14.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TBI. StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. BMO Capital Markets lowered their target price on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a 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.