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

TrueBlue (NYSE:TBI) released its quarterly earnings data 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. 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 company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. TrueBlue updated its Q4 2024 guidance to EPS.

TrueBlue Trading Down 2.3 %

NYSE TBI traded down $0.18 on Tuesday, hitting $7.48. The company’s stock had a trading volume of 167,272 shares, compared to its average volume of 319,036. The firm has a market cap of $228.66 million, a P/E ratio of -1.97 and a beta of 1.49. TrueBlue has a 52-week low of $6.97 and a 52-week high of $16.14. The company’s 50-day simple moving average is $7.64 and its 200 day simple moving average is $9.34.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. BMO Capital Markets dropped their price target on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a research 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.