TrueBlue (NYSE:TBI) Announces Quarterly Earnings Results, Beats Expectations By $0.46 EPS

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

TrueBlue Price Performance

Shares of TBI opened at $10.55 on Thursday. The firm has a market capitalization of $331.00 million, a price-to-earnings ratio of -23.43 and a beta of 1.51. The company has a 50-day moving average of $11.38 and a 200 day moving average of $12.86. TrueBlue has a 1-year low of $10.15 and a 1-year high of $19.06.

Wall Street Analysts Forecast Growth

TBI has been the topic of several analyst reports. Robert W. Baird cut their price target on shares of TrueBlue from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday. BMO Capital Markets reduced their price target on TrueBlue from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday.

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.