FINANCIALS: US TrueBlue sees decline in revenue

US blue-collar recruiter TrueBlue has seen revenue decline 9% year-on-year, according to the company’s fourth-quarter results for 2019.

The results reveal Q4 2019 revenue of $591m (£455.5m), down from $650m in Q4 of 2018, with net income per diluted share of $0.23, a decrease of 38% compared with $0.61 in Q4 2018. Adjusted net income per diluted share was $0.39, a decrease of 36% on the fourth quarter of 2018.

The group posted full-year revenue was $2.4bn, down 5% on 2018. 

Commenting on the group’s performance, TrueBlue CEO Patrick Beharelle said: “Clients were conservative in the use of our services during the fourth quarter in light of softness in their own business volumes and continued economic uncertainty, particularly in industries associated with physical goods.

“I’m pleased with our disciplined focus on cost management and the savings it delivered this quarter. Over the near term, we expect continued challenges in the industrial markets we serve, but we are encouraged by recent improvements in the demand trend for PeopleReady services.

“PeopleReady’s JobStack app has filled more than 6m shifts since its inception and is currently filling a job every nine seconds. PeopleScout’s Affinix is helping clients improve time-to-fill, candidate flow and candidate satisfaction. As we move into a new year and decade, I believe our digital strategies provide further opportunity to differentiate our services, capture additional market share and deliver industry-leading growth.”

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