Bgsf Inc Up 1.14% To $9.76 After Earnings Beat

BGSF Inc (BGSF) reported better than expected earnings this afternoon for Q4 2023.

Analyst expectations for Bgsf Inc earnings per share (EPS) were at $0.08, with the company surpassing those estimates with a reported EPS of $0.21, leading to a positive surprise of $0.13 per share (163%). Bgsf Inc's earnings rose 11% year-over-year as the firm reported an EPS of $0.19 in its year-ago quarter. The positive annual growth shows the Industrials company is performing well amid recent economic conditions.

Consensus analyst estimates were at $75.1 million. The Industrials company missed on those expectations for its fourth quarter with revenue of $73.6 million, a negative revenue surprise of $1.5 million (2%). The firm managed negative 5% growth year-over-year due to Bgsf Inc reporting quarterly revenue of $77.3 million in its year-ago quarter. Bgsf Inc achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is up 1.14% to $9.76 after the report.

Despite Bgsf Inc reporting a decline in revenues, earnings increased signaling a rise in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Bgsf Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 40. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

BGSF Inc is engaged in providing temporary staffing services. The company has expertise in Real Estate, Professional, and Light Industrial sectors. The majority of its revenue comes from the Professional segment that provides skilled field talent on a nationwide basis for information technology & finance, accounting, legal and human resource client partner projects on a national basis. The services offered by the company include Staffing and Recruiting, Executive Search, Project & Consulting, and Onsite Management.