Barrett Business Services Q3 revenue slightly beats on higher average billings per employee
BBSI•Barrett Business Services reported Q3 revenue of $334.1 million, slightly above the $332.2 million consensus, while net income fell year over year to $16.8 million. The company expects 2026 gross billings growth of 3% to 4%.
1. Q3 results
Q3 revenue rose 5% to $334.1 million, a slight beat of analyst expectations. The company said growth was driven by more worksite employees from net new clients and higher average billings per employee. Net income fell year over year amid soft client hiring trends.
2. 2026 outlook
Barrett Business Services expects 2026 gross billings growth of 3% to 4%, average worksite employee growth of 1% to 2%, and gross margin of 2.70% to 2.75% of gross billings. The company repurchased $9 million in stock during Q3.
