TrueBlue Second Quarter 2024 Earnings: Misses Expectations

In this article:

TrueBlue (NYSE:TBI) Second Quarter 2024 Results

Key Financial Results

  • Revenue: US$396.2m (down 17% from 2Q 2023).

  • Net loss: US$104.7m (loss widened by US$97.4m from 2Q 2023).

  • US$3.45 loss per share (further deteriorated from US$0.24 loss in 2Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

TrueBlue Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates significantly.

Looking ahead, revenue is expected to decline by 4.4% p.a. on average during the next 2 years, while revenues in the Professional Services industry in the US are expected to grow by 6.1%.

Performance of the American Professional Services industry.

The company's shares are down 33% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of TrueBlue's balance sheet and an in-depth analysis of the company's financial position.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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