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TrueBlue, Inc.

TrueBlue, Inc.

NYSE•TBI
CEO: Ms. Taryn R. Owen
Sector: Industrials
Industry: Staffing & Employment Services
Listing Date: 1994-04-04
TrueBlue, Inc., together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries. The PeopleManagement segment offers contingent, on-site industrial staffing, and commercial driver services, which includes on-site management and recruitment for the contingent industrial workforce of manufacturing, warehousing, and distribution facilities; and recruitment and management of contingent and dedicated commercial drivers to the transportation and distribution industries under the Staff Management, SIMOS Insourcing Solutions, and Centerline Drivers brands. The company PeopleScout segment provides recruitment process outsourcing, talent advisory services, and managed service provider solutions including sourcing, screening, hiring, and onboarding services; operates Affinix, a technology platform for sourcing, screening, and delivering a permanent workforce to its clients; talent advisory services, such as employer branding, recruitment marketing, talent insights, diversity, equity and inclusion consulting, candidate assessment, and talent acquisition strategy consulting services; and contingent labor programs including vendor selection, performance management, compliance monitoring, and risk management. TrueBlue, Inc. was formerly known as Labor Ready, Inc. and changed its name to TrueBlue, Inc. in December 2007. The company was incorporated in 1985 and is headquartered in Tacoma, Washington.
Contact Information
1015 A Street, Tacoma, WA, 98402, United States
253-383-9101
www.trueblue.com
Market Cap
$158.68M
P/E (TTM)
-5.6
26
Dividend Yield
--
52W High
$8.55
52W Low
$3.45
52W Range
36%
Rank43Top 50.7%
3.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$431.27M+12.79%
4-Quarter Trend

EPS

-$0.06-75.35%
4-Quarter Trend

FCF

$0.00+0.00%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Quarterly Revenue Growth Strong Revenue reached $431.3M for thirteen weeks, marking 12.8% growth, primarily from skilled business expansion.
Net Loss Significantly Narrows Net loss improved to $(1.9)M in the quarter compared to $(7.6)M last year, showing operational leverage.
SG&A Expense Improvement Noted Thirty-nine week SG&A expense improved 9.1% to $276.1M, driven by leaner cost structure management.
HSP Acquisition Contributes Growth The HSP acquisition contributed 3.7% of revenue growth for the thirteen weeks ended September 28, 2025.

Risk Factors

Gross Margin Compression Continues Gross profit margin declined 350 basis points to 22.7% due to revenue mix shifting to lower margin staffing.
Expected Q4 Impairment Event Expect material non-cash impairment charge in Q4 2025 related to the Chicago support center asset group sublease.
Economic Demand Volatility Risk Workforce solution demand is highly dependent on the economy, creating uncertainty in forecasting future assignments.
Trademark Impairment Recorded Recorded $0.2M non-cash impairment charge on a PeopleManagement trademark due to increased discount rate.

Outlook

Q4 Revenue Growth Guidance Expect Q4 2025 revenue growth between 4% and 10%, including approximately 4% inorganic growth from HSP.
Anticipated Q4 Margin Decline Anticipate Q4 gross profit margin decline between 370 and 410 basis points versus prior year levels.
FY2025 Capital Spending Forecast Expect total FY 2025 capital expenditures and software spending to range between $17M and $19M.
Strategy Focus on Digital Growth Strategy focuses on accelerating digital transformation and expanding presence in high-skill, high-value talent segments.

Peer Comparison

Revenue (TTM)

TrueBlue, Inc.TBI
$1.58B
-5.4%
Resources Connection, Inc.RGP
$506.74M
-12.9%
Microvast Holdings, Inc.MVST
$444.50M
+19.8%

Gross Margin (Latest Quarter)

AMMO, Inc.POWW
87.1%
+64.1pp
Forrester Research, Inc.FORR
56.0%
+1.4pp
Evolv Technologies Holdings, Inc.EVLV
49.7%
-8.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
EVLV$1.14B-18.8-55.1%13.9%
MVST$987.83M-6.4-38.9%15.5%
SKYX$340.30M-9.3-703.7%66.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
3.8%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 18, 2026
|
EPS:-$0.08
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 28, 2025|Filed: Nov 3, 2025|
    Revenue: $431.27M+12.8%
    |
    EPS: $-0.06-75.3%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 29, 2025|Filed: Aug 4, 2025|
    Revenue: $396.30M+0.0%
    |
    EPS: $-0.01-99.7%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 30, 2025|Filed: May 5, 2025|
    Revenue: $370.25M-8.1%
    |
    EPS: $-0.48+779.1%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 29, 2024|Filed: Feb 19, 2025|
    Revenue: $1.57B-17.8%
    |
    EPS: $-4.17-826.7%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Sep 29, 2024|Filed: Nov 4, 2024|
    Revenue: $382.36M-19.2%
    |
    EPS: $-0.26+86566.7%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 5, 2024|
    Revenue: $396.23M-16.7%
    |
    EPS: $-3.45+1337.5%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 6, 2024|
    Revenue: $402.85M-13.4%
    |
    EPS: $-0.05-58.0%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 21, 2024|
    Revenue: $1.91B-15.4%
    |
    EPS: $-0.45-123.8%
    Miss