Feb 7, 201806:26 PMBlog

TrueBlue announces 2017 Q4 results

Feb 7, 2018 - 06:26 PM

TrueBlue, Inc. has announced its fiscal fourth quarter 2017 results, with a revenue of $670 million.

That’s a decrease of 9 percent, compared to revenue of $735 million in the fiscal fourth quarter of 2016. Excluding the reduction of services provided to Amazon — the company's former largest customer, which shifted its staffing needs away from TrueBlue in 2016 — revenue declined by 8 percent.

Net income per diluted share was $0.40 compared to $0.43 in the fiscal fourth quarter of 2016. Adjusted net income per diluted share1 was $0.51 compared to $0.56 in the fiscal fourth quarter of 2016.

“We saw improving fundamentals this quarter driven by strong execution across the business,” TrueBlue CEO Steve Cooper said. “The broad-based improvements in the PeopleReady and PeopleManagement third quarter revenue trends continued throughout the fourth quarter, and PeopleScout delivered another quarter of double-digit growth.

 “We also made additional progress with our digital strategy. Adoption of JobStack, our PeopleReady mobile app, continued to climb, and we also launched Affinix in our PeopleScout business, a next generation technology that improves the candidate experience and streamlines the sourcing process.”

The company estimates revenue for the fiscal first quarter of 2018 will range from $557 million to $572 million. It also expects net income per diluted share will range from $0.03 to $0.11. Adjusted net income per diluted share is expected to be $0.18 to $0.24.

TrueBlue also estimates its historical effective income tax rate of 28 percent will drop to roughly 16 percent in fiscal 2018 and 2019 as a result of recent tax reform legislation.


Edit Module
Bookmark and Share Email this page Email Print this page Print Feed Feed
Edit Module

About This Blog

Follow our blog for all the latest in local business news. To get the top local business news, subscribe to Daily Biz Briefs email newsletter. As a reader of this FREE email you get breaking business news each business day afternoon delivered right to your email inbox.



Atom Feed Subscribe to the Blog Feed »

Recent Posts