TrueBlue Q3 adjusted profit beats estimates as revenue jumps
TBI•TrueBlue reported third-quarter revenue of $521 million, up 21% year over year, and adjusted earnings of $0.33 per share, above analyst estimates of $455.70 million in revenue and $0.19 per share.
1. Quarterly results
TrueBlue reported third-quarter net income of $9.2 million and earnings of $0.28 per share. Adjusted earnings were $0.33 per share, while revenue rose 21% year over year to $521 million.
2. Drivers and outlook
The company cited expansion into new end markets and execution in skilled verticals for revenue, profitability and operating leverage gains. Selling, general and administrative expense fell 3% to $89.1 million. TrueBlue provided no specific financial guidance for current or future periods in its press release.
