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

TrueBlue (NYSE:TBI) posted its quarterly earnings results on Monday. The business services provider reported ($0.11) earnings per share for the quarter, topping 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 firm had revenue of $382.36 million for the quarter, compared to the consensus estimate of $386.07 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The business’s revenue was down 19.2% compared to the same quarter last year. TrueBlue updated its Q4 2024 guidance to EPS.

TrueBlue Stock Down 4.2 %

NYSE:TBI traded down $0.32 on Tuesday, reaching $7.34. The stock had a trading volume of 143,551 shares, compared to its average volume of 318,919. The company has a market capitalization of $224.38 million, a P/E ratio of -1.97 and a beta of 1.49. TrueBlue has a 1-year low of $6.97 and a 1-year high of $16.14. The stock has a fifty day moving average price of $7.64 and a 200-day moving average price of $9.34.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TBI shares. BMO Capital Markets decreased their price objective on TrueBlue from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday. StockNews.com lowered TrueBlue from a “hold” rating to a “sell” rating in a research note 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.