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Jun 25, 2023
TrueBlue Q2 2023 Earnings Report
TrueBlue's financial performance declined due to softening demand and client focus on cost reduction.
Key Takeaways
TrueBlue reported a decrease in revenue and a net loss for the second quarter of 2023, driven by softening demand and clients focusing on cost reduction. Revenue decreased by 16% compared to the previous year, and the company reported a net loss per diluted share of $0.24, which included a non-cash goodwill and intangible asset impairment charge.
Second quarter revenue was $476 million, a 16 percent decrease year-over-year.
Net loss per diluted share was $0.24, compared to net income per diluted share of $0.72 in the second quarter of 2022.
Adjusted net income per diluted share was $0.17, compared to $0.82 in the second quarter of 2022.
The net loss includes a non-cash goodwill and intangible asset impairment charge of $9 million after tax, or $0.30 per diluted share.
Forward Guidance
TrueBlue 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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