TrueBlue (TBI) Tops Q4 EPS by 15c, Revenues Beat

TrueBlue (NYSE: TBI) reported Q4 EPS of $0.33, $0.15 better than the analyst estimate of $0.18. Revenue for the quarter came in at $519 million versus the consensus estimate of $498.08 million.

“We saw steady improvement in our year-over-year revenue declines during the back half of the year, and we took the right actions to improve profitability, positioning the company for long-term growth as the economy continues to recover,” said Patrick Beharelle, CEO of TrueBlue. “In addition to improving revenue trends, we sustained our cost discipline during the fourth quarter to drive growth of 25 percent in income from operations. I am extremely proud of the entire TrueBlue team for coming together and staying true to our mission of connecting people and work.

“We continue to invest in our digital strategies,” Mr. Beharelle continued. “PeopleReady’s JobStack app has been a critical tool for us during the pandemic, allowing us to connect with associates and clients safely during these tough times. Heavy users of the app demonstrated disproportionately higher revenue growth. Looking ahead, our technology investments have us well-positioned to gain market share during the recovery and beyond.”

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

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