TrueBlue (NYSE:TBI) Issues Quarterly Earnings Results

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

TrueBlue Price Performance

Shares of TBI traded down $0.26 during midday trading on Tuesday, reaching $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 capitalization of $226.22 million, a P/E ratio of -1.97 and a beta of 1.49. The firm’s 50 day moving average price is $7.64 and its 200-day moving average price is $9.34. TrueBlue has a 52 week low of $6.97 and a 52 week high of $16.14.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BMO Capital Markets dropped their price objective on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday. StockNews.com downgraded TrueBlue from a “hold” rating to a “sell” rating in a research note 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.