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Jun 28, 2020
TrueBlue Q2 2020 Earnings Report
TrueBlue's second quarter results for 2020 were announced, revealing a decrease in revenue and a net loss per diluted share due to the impact of COVID-19, but cost reduction efforts and investments in digital strategies showed promise.
Key Takeaways
TrueBlue reported a challenging second quarter of 2020 with a 39% decrease in revenue to $359 million compared to the previous year. The company experienced a net loss of $0.23 per diluted share, but cost reduction measures and digital investments are expected to improve future performance.
Revenue decreased by 39% compared to Q2 2019, totaling $359 million.
Net loss per diluted share was $0.23, a significant drop from the $0.49 net income per diluted share in Q2 2019.
Adjusted net loss per diluted share was $0.12, compared to an adjusted net income per diluted share of $0.64 in the same quarter last year.
The company experienced a decline in demand due to COVID-19, but saw moderate improvement towards the end of the quarter and into July.
Forward Guidance
Due to the uncertainty surrounding COVID-19 and its impact on the business environment, TrueBlue is not providing customary quarterly guidance. However, the company is providing certain forward-looking information to help investors form their own estimates, which can be found in the quarterly earnings presentation filed today.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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