BBSI delivered a solid fourth quarter with revenues reaching $321.1 million, driven by a 6% increase in gross billings and a 5% rise in average worksite employees. Despite a slight moderation in same-customer sales, the company achieved strong new client wins and maintained high retention rates, finishing the year with a debt-free balance sheet and significant capital returns to shareholders.
BBSI delivered a strong second quarter, with revenues increasing 10% to $307.7 million and gross billings up 10% to $2.23 billion. Net income rose to $18.5 million, or $0.70 per diluted share, driven by net new client growth and strong client retention, despite modest existing-customer hiring.
BBSI delivered a strong start to the year with revenues up 10% to $292.6 million and gross billings up 9% to $2.09 billion. The company reported a net loss of $1.0 million, or $(0.04) per diluted share, which was attributed to seasonality in payroll tax expense.
BBSI achieved a strong fourth quarter in 2024, with revenues increasing 10% to $304.8 million and net income rising 15% to $16.8 million, or $0.63 per diluted share. This performance was driven by record worksite employee additions, high client retention, and a successful year-end selling season for their healthcare offering.
BBSI reported strong Q3 2024 financial results, with revenues up 8% to $294.3 million and net income of $19.6 million, or $0.74 per diluted share. The company's performance was driven by growth in PEO services and strong client retention.
BBSI reported a 6% increase in revenues to $279.7 million and net income of $16.7 million for Q2 2024. The company raised its quarterly dividend by 7% to $0.08 per share.
BBSI's first quarter 2024 shows a 4% increase in revenues to $265.8 million and a 7% increase in gross billings to $1.91 billion. However, the company experienced a net loss of $0.1 million, or $(0.02) per diluted share, compared to a net income of $0.8 million, or $0.12 per diluted share, in the same quarter last year.