TrueBlue (NYSE:TBI) Releases Earnings Results, Beats Estimates By $0.46 EPS

TrueBlue (NYSE:TBI) released its quarterly earnings results on Monday. The business services provider reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.43) by $0.46, Briefing.com reports. TrueBlue had a negative net margin of 0.74% and a positive return on equity of 2.39%. The firm had revenue of $403.00 million during the quarter, compared to the consensus estimate of $400.24 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. TrueBlue’s revenue for the quarter was down 13.4% on a year-over-year basis. TrueBlue updated its Q2 2024 guidance to EPS.

TrueBlue Price Performance

TBI traded up $0.06 during midday trading on Tuesday, reaching $10.65. 89,750 shares of the company’s stock were exchanged, compared to its average volume of 404,300. TrueBlue has a 1-year low of $10.15 and a 1-year high of $19.06. The stock has a market capitalization of $334.30 million, a PE ratio of -24.47 and a beta of 1.51. The business’s 50-day moving average price is $11.42 and its 200 day moving average price is $12.90.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their price objective on TrueBlue from $14.00 to $13.00 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.