TrueBlue (NYSE: TBI) reported Q4 EPS of $0.39, $0.02 worse than the analyst estimate of $0.41. Revenue for the quarter came in at $591 million versus the consensus estimate of $601.27 million.

“Clients were conservative in the use of our services during the fourth quarter in light of softness in their own business volumes and continued economic uncertainty, particularly in industries associated with physical goods,” said Patrick Beharelle, CEO of TrueBlue. “I’m pleased with our disciplined focus on cost management and the savings it delivered this quarter. Over the near term, we expect continued challenges in the industrial markets we serve, but we are encouraged by recent improvements in the demand trend for PeopleReady services.

“When I look at TrueBlue’s digital strategy and competitive position, I am pleased by what we have accomplished. We have more clients and workers using our technology than ever before,” Mr. Beharelle continued. “PeopleReady’s JobStack app has filled more than six million shifts since its inception and is currently filling a job every nine seconds. PeopleScout’s Affinix is helping clients improve time to fill, candidate flow and candidate satisfaction. As we move into a new year and decade, I believe our digital strategies provide further opportunity to differentiate our services, capture additional market share and deliver industry-leading growth.”

GUIDANCE:

TrueBlue sees Q1 2020 EPS of $0.04-$0.11, versus the consensus of $0.23. TrueBlue sees Q1 2020 revenue of $503-528 million, versus the consensus of $520.08 million.

TrueBlue estimates revenue for the first quarter of 2020 will range from $503 million to $528 million. The company also estimates net loss per basic share will range from $0.07 to $0.00 and adjusted net income per diluted share will range from $0.04 to $0.11.

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