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

TrueBlue (NYSE:TBI) announced its quarterly earnings results on Monday. The business services provider reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.04, Briefing.com reports. TrueBlue had a negative return on equity of 2.55% and a negative net margin of 6.97%. The company had revenue of $382.36 million for the quarter, compared to the consensus estimate of $386.07 million. During the same quarter last year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. TrueBlue updated its Q4 2024 guidance to EPS.

TrueBlue Stock Performance

NYSE:TBI traded up $0.02 on Thursday, hitting $8.18. 81,607 shares of the stock were exchanged, compared to its average volume of 318,347. TrueBlue has a 52 week low of $6.97 and a 52 week high of $16.14. The stock has a market capitalization of $250.06 million, a price-to-earnings ratio of -2.13 and a beta of 1.49. The company’s 50-day moving average price is $7.63 and its 200 day moving average price is $9.31.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BMO Capital Markets decreased their price target on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday. StockNews.com downgraded TrueBlue from a “hold” rating to a “sell” rating in a report 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.