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

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

TrueBlue Price Performance

Shares of NYSE TBI traded down $0.32 during mid-day trading on Tuesday, hitting $7.34. The company had a trading volume of 143,551 shares, compared to its average volume of 318,919. TrueBlue has a 12 month low of $6.97 and a 12 month high of $16.14. The firm has a market cap of $224.38 million, a P/E ratio of -1.97 and a beta of 1.49. The business’s 50-day simple moving average is $7.64 and its 200-day simple moving average is $9.34.

Analysts Set New Price Targets

TBI has been the subject of several research analyst reports. BMO Capital Markets cut their price objective on TrueBlue from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday. StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th.

About TrueBlue

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.