TrueBlue (TBI) Tops Q4 EPS by 3c, Beats on Revenues; Offers 1Q EPS/Revenues Below Consensus

TrueBlue (NYSE: TBI) reported Q4 EPS of $0.51, $0.03 better than the analyst estimate of $0.48. Revenue for the quarter came in at $670 million versus the consensus estimate of $667.99 million.

• Revenue was $670 million, a decrease of 9 percent, compared to revenue of $735 million in the fiscal fourth quarter of 2016.
• Excluding the previously disclosed reduction in the scope of services provided to the company's former largest customer, revenue declined by 8 percent.
• Net income per diluted share was $0.40 compared to $0.43 in the fiscal fourth quarter of 2016.
• Adjusted net income per diluted share1 was $0.51 compared to $0.56 in the fiscal fourth quarter of 2016.

2018 Outlook

The company estimates revenue for the fiscal first quarter of 2018 will range from $557 million to $572 million. It also expects net income per diluted share will range from $0.03 to $0.11. Adjusted net income per diluted share is expected to be $0.18 to $0.24.

GUIDANCE:

TrueBlue sees Q1 2018 EPS of $0.18-$0.24, versus the consensus of $0.25. TrueBlue sees Q1 2018 revenue of $557-572 million, versus the consensus of $577.49 million.

For earnings history and earnings-related data on TrueBlue (TBI) click here.

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