FINANCIALS: TrueBlue sees increase in revenue

US blue-collar recruiter TrueBlue has seen revenue increase 3% year-on-year, according to Q3 2018 results.

The results, released late yesterday, reveal revenue of $680m (£520.6m), up from $661m in the same quarter last year, with net income per diluted share of $0.61, up 20% compared to $0.51 in Q3 2017. Adjusted net income per diluted share was $0.79, an increase of 32%, compared to $0.60 in Q3 of 2017.

Commenting on the group’s performance, TrueBlue CEO pointed to another quarter of revenue growth: “PeopleReady produced its second consecutive quarter of revenue growth and PeopleScout achieved its fifth consecutive quarter of double-digit organic revenue growth. 

“Our top line growth, gross margin expansion and share repurchases, combined with a lower income tax rate, are all contributing to strong EPS [earnings per share] growth.

“TrueBlue’s digital strategies are creating differentiation with clients and candidates. JobStack, our PeopleReady mobile staffing technology, is transforming how people find work and how businesses find people. Affinix, our PeopleScout proprietary talent acquisition technology, is receiving praise from current and prospective customers.”

Looking ahead, the firm said it anticipated Q4 2018 revenue will range from $642m to $659m. 

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