Trueblue Inc Down 17.06% To $11.33 After Earnings Miss

Tuesday, October 24, 2023 - Trueblue Inc (TBI) reported downside earnings and revenues today.

Trueblue Inc's earnings came in at an EPS of $0.16 per share, 30% lower than estimates for an EPS of $0.23 per share. The firm's earnings are down 79% since reporting $0.75 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $473.2 million. That represents a 17.81% decrease in revenues from the year-ago report and is 3.22% lower than consensus estimates set at $488.9 million.

The stock is down 17.06% to $11.33 after the report.

Trueblue Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 27. Meanwhile, the average Wall Street analyst rated the stock a Buy.

TrueBlue Inc is a provider of staffing and workforce management solutions. The company's reportable segments include PeopleReady offers industrial staffing services. PeopleManagement offers contingent and productivity-based on-site industrial staffing services and PeopleScout offers recruitment process outsourcing and managed service provider services. It generates maximum revenue from the PeopleReady segment.