TrueBlue (TBI) Tops Q1 EPS by 3c, Revenues Miss; Q2 Revenue Guidance Below Consensus, Affirms Q2 EPS Outlook

TrueBlue (NYSE: TBI) reported Q1 EPS of $0.27, $0.03 better than the analyst estimate of $0.24. Revenue for the quarter came in at $552 million versus the consensus estimate of $560.26 million.

“Our revenue trend improved from the prior quarter despite challenging weather conditions, and bottom line results exceeded our expectation,” said Patrick Beharelle, CEO of TrueBlue. “PeopleReady delivered its fourth consecutive quarter of revenue growth and our focus on reducing cost of services produced our thirteenth consecutive quarter of consolidated gross margin expansion.

“We see a favorable market for human capital services and are pleased with both the progress and opportunity associated with our strategies,” Mr. Beharelle continued. “Our JobStack™ and Affinix™ technologies are leading our business into a digital future. JobStack dispatches continue to increase and we are accelerating our deployment of Affinix. We remain focused on organic growth, disciplined cost management, and returning capital to shareholders.”

GUIDANCE:

TrueBlue sees Q2 2019 EPS of $0.55-$0.62, versus the consensus of $0.58. TrueBlue sees Q2 2019 revenue of $606-623 million, versus the consensus of $628.31 million.

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

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