TrueBlue (TBI) Tops Q1 EPS by 31c, Revenues Beat

TrueBlue (NYSE: TBI) reported Q1 EPS of $0.25, $0.31 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $458.7 million versus the consensus estimate of $450.27 million.

“We had a strong start to the year driven by revenue recovery across all segments and disciplined cost management,” said Patrick Beharelle, CEO of TrueBlue. “We are seeing encouraging new business wins and recovery of existing client volumes, including some of the markets that were hit the hardest last year. Our focus on efficiently managing costs while ensuring we continue to invest in sales resources and digital strategies has allowed us to accelerate our strategic priorities and emerge stronger as the economy begins to shift back to growth.

“Our efforts are producing competitive differentiation and in the case of PeopleReady, JobStack heavy client users continue to show higher revenue growth compared to the rest of the customer base,” Mr. Beharelle continued. “We are excited about our market positioning and ability to increase market share.”

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

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