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

TrueBlue (NYSE:TBI) released its earnings results on Monday. The business services provider reported ($0.11) earnings per share 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 company had revenue of $382.36 million for the quarter, compared to analysts’ expectations of $386.07 million. During the same quarter in the previous year, the company earned $0.16 EPS. TrueBlue’s revenue for the quarter was down 19.2% on a year-over-year basis. TrueBlue updated its Q4 2024 guidance to EPS.

TrueBlue Stock Down 4.2 %

Shares of TBI stock opened at $7.34 on Wednesday. The stock has a market cap of $224.23 million, a P/E ratio of -2.05 and a beta of 1.49. TrueBlue has a 52 week low of $6.97 and a 52 week high of $16.14. The company’s fifty day simple moving average is $7.63 and its two-hundred day simple moving average is $9.32.

Analyst Upgrades and Downgrades

TBI has been the topic of several research analyst reports. StockNews.com cut shares of TrueBlue from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. BMO Capital Markets decreased their price target on shares of TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday.

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.