TrueBlue (NYSE:TBI) Posts Earnings Results, Beats Expectations By $0.46 EPS

TrueBlue (NYSE:TBI) announced its quarterly earnings results 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 company had revenue of $403.00 million for the quarter, compared to analyst estimates of $400.24 million. During the same period in the previous year, the firm posted ($0.06) EPS. The firm’s revenue was down 13.4% on a year-over-year basis. TrueBlue updated its Q2 2024 guidance to EPS.

TrueBlue Stock Performance

TBI stock opened at $10.55 on Thursday. The company has a market capitalization of $331.00 million, a P/E ratio of -23.43 and a beta of 1.51. The company has a fifty day moving average price of $11.38 and a 200-day moving average price of $12.86. TrueBlue has a 52-week low of $10.15 and a 52-week high of $19.06.

Analyst Ratings Changes

Several brokerages have recently issued reports on TBI. Robert W. Baird lowered their price target on shares of TrueBlue from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday. BMO Capital Markets dropped their target price on TrueBlue from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday.

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.