TrueBlue (TBI) Misses Q3 EPS by 7c, Beats on Revenues; Q4 Revenue Outlook Below Consensus

TrueBlue (NYSE: TBI) reported Q3 EPS of $0.51, $0.07 worse than the analyst estimate of $0.58. Revenue for the quarter came in at $661 million versus the consensus estimate of $651.9 million.

2017 Outlook

The company estimates revenue for the fiscal fourth quarter of 2017 will range from $660 million to $675 million. It also expects net income per diluted share will range from $0.36 to $0.41. Adjusted net income per diluted share is expected to be $0.45 to $0.50.

The fiscal fourth quarter of 2016 included a 14th week and two additional days from moving the week-ending date from Friday to Sunday. On a GAAP basis our fourth quarter revenue outlook represents a decline of 8% to 10% while on a comparable basis2, the revenueoutlook represents a decline of 1% to 3%. The additional nine days in the fiscal fourth quarter of 2016 generated $56 million of revenue, $0.04 of net income per diluted share, and $0.05 of adjusted net income per diluted share.

GUIDANCE:

TrueBlue sees Q4 2017 EPS of $0.45-$0.50, versus the consensus of $0.48. TrueBlue sees Q4 2017 revenue of $660-675 million, versus the consensus of $679.83 million.

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

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