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

TrueBlue (NYSE:TBI) posted its quarterly earnings data 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. TrueBlue had a negative net margin of 0.74% and a positive return on equity of 2.39%. The firm had revenue of $403.00 million for the quarter, compared to the consensus estimate of $400.24 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. TrueBlue updated its Q2 2024 guidance to EPS.

TrueBlue Price Performance

NYSE TBI traded up $0.06 during trading hours on Tuesday, reaching $10.65. The company’s stock had a trading volume of 89,750 shares, compared to its average volume of 404,300. TrueBlue has a 1-year low of $10.15 and a 1-year high of $19.06. The firm has a market capitalization of $334.30 million, a price-to-earnings ratio of -24.47 and a beta of 1.51. The company’s 50-day moving average is $11.42 and its two-hundred day moving average is $12.90.

Analysts Set New Price Targets

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

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.