FINANCIALS: US TrueBlue reports slight drop in revenue

TrueBlue has reported a marginal decrease in year-on-year revenue for the third quarter of 2017.

Results published today reveal the US blue-collar recruiter posted revenue of $661m (£500.6m), down from $697m in the same quarter of last year.

Net income per diluted share was $0.51 compared to $0.56 in Q3 2016, with adjusted net income per diluted share of $0.60 compared to $0.72 in the fiscal third quarter of 2016.

But TrueBlue CEO Steve Cooper said he was encouraged by the results, adding the group had seen improving revenue trends across all of its segments and double-digit growth in its PeopleScout business. 

“These trends combined with the continued progress of our digital strategy position us well for future revenue growth. We are committed to driving higher shareholder returns through organic revenue growth strategies and share repurchases.”

The company also announced its board of directors has authorised a $100m stock repurchase programme. 

“The company is producing strong cashflow and the balance sheet is in great shape,” TrueBlue CFO Derrek Gafford said. “The new share authorisation demonstrates our desire to return more cash to shareholders and our confidence in the long-term outlook for our business.”

• Want to comment on this story? Email us at [email protected] at the link below or tweet us to tell us your thoughts. We will run comments online in a round-up at the end of the week.

Email story to a friend

UKG acquires Shiftboard to boost scheduling tools

HR and workforce management firm UKG has acquired Shiftboard, a US-based employee scheduling software provider.

Contracts 30 June 2025

Green energy firm aims to bring skilled jobs to Kent

A green energy company is set to create more than 100 jobs by 2027 with the proposed opening of a £120m plant in Kent.

New to Market 4 June 2025

Energy recruitment firm launches in Aberdeen

Specialist recruitment firm Agilient Talent Partners has launched in Aberdeen, focusing on permanent hiring within the energy sector.

New to Market 27 May 2025

International manufacturer invests £170m in North Wales facility

Around 140 jobs will be created in North Wales after Knauf Insulation unveiled plans to invest £170m in a state-of-the-art manufacturing facility.

New to Market 20 May 2025
Top