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

Posted by William Tyler on May 8th, 2024

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

TrueBlue Price Performance

TBI opened at $10.57 on Wednesday. The business has a fifty day simple moving average of $11.40 and a 200 day simple moving average of $12.88. The company has a market capitalization of $331.62 million, a PE ratio of -23.48 and a beta of 1.51. TrueBlue has a 1 year low of $10.15 and a 1 year high of $19.06.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price target on TrueBlue from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday.

Read Our Latest Stock Report on TrueBlue

TrueBlue Company Profile

(Get Free Report)

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.