Welcome to our dedicated page for Barrett Business Services news (Ticker: BBSI), a resource for investors and traders seeking the latest updates and insights on Barrett Business Services stock.
Barrett Business Services, Inc. (BBSI) (NASDAQ: BBSI) is a prominent provider of business management solutions, merging elements of human resource outsourcing and professional management consulting. This integration forms a unique operational platform that sets BBSI apart from its competitors. The company specializes in payroll administration, employee benefits, workers' compensation coverage, risk management, workplace safety programs, and human resource management.
BBSI supports over 7,500 clients across various industries in 23 states, helping small and medium-sized businesses optimize their human capital investments and operational efficiency. By offering professional employer services and staffing solutions, BBSI ensures comprehensive support for its clients.
Professional Employer Services:
- Payroll management and tax services
- Workers' compensation coverage
- Employment management including hiring and termination
Staffing Services:
- Temporary and contract staffing
- Long-term or indefinite on-site management
- Direct placement services
In the latest quarterly reports, BBSI demonstrated strong financial performance despite a slight dip in staffing services revenue due to market conditions. The company's net income for Q3 2023 was $18.2 million, showcasing an increase from the previous year. BBSI's gross billings grew by 3%, driven by the expansion of PEO services and the addition of new clients.
Notably, BBSI maintains a robust financial position with unrestricted cash and investments totaling $129.2 million as of September 30, 2023. The company continues to reward shareholders with regular quarterly dividends and stock repurchases, affirming its commitment to shareholder value.
Looking ahead, BBSI's strategic partnership with Kaiser Permanente to include comprehensive health plans as part of its benefits portfolio highlights its dedication to enhancing client offerings and ensuring employee well-being. This partnership reflects BBSI's ongoing efforts to provide top-tier healthcare solutions to its clients.
For more information, visit BBSI's official website.
Barrett Business Services (BBSI) has achieved Great Place To Work® Certification for the fourth consecutive year, reinforcing its position as a leading business management solutions provider and professional employer organization (PEO). This certification, based entirely on employee feedback, demonstrates BBSI's commitment to creating a supportive and empowering workplace culture.
According to Great Place To Work® research, certified companies see significant benefits: job seekers are 15x more likely to apply, employees are 93% more likely to look forward to work, and workers are twice as likely to receive fair pay, profit sharing, and promotion opportunities. BBSI President and CEO Gary Kramer attributes this achievement to their dedicated professionals and their role in supporting business owners nationwide.
The certification validates BBSI's value-driven approach to business and its focus on creating an environment where employees feel supported and empowered to thrive. The company is actively recruiting and encourages potential candidates to explore opportunities through their careers page.
Barrett Business Services (BBSI) has established a new vice chairman position on its board of directors and appointed current board member Joseph S. Clabby to the role. Clabby, who joined BBSI as director in September 2022, brings extensive experience from his over twenty-year tenure at ACE and Chubb, where he held various senior executive positions. His background includes significant roles at major insurance and reinsurance organizations such as Alexander & Alexander, Willis Group, and Swiss Re.
The appointment aligns with BBSI's board development and succession planning process, with Chairman Tony Meeker highlighting Clabby's contributions to the company's growth through his thoughtfulness, business acumen, and leadership.
Barrett Business Services (BBSI) reported strong Q3 2024 financial results with revenues up 8% to $294.3 million and gross billings up 9% to $2.14 billion. Net income reached $19.6 million, or $0.74 per diluted share, compared to $18.2 million ($0.67 per share) in Q3 2023. The company saw a 5% increase in average worksite employees (WSEs) and maintained strong client retention. Workers' compensation expense decreased to 2.3% of gross billings. BBSI remains debt-free with $94.4 million in unrestricted cash and investments, while returning $28 million to shareholders through dividends and share repurchases year-to-date.
Barrett Business Services (BBSI) has scheduled its third quarter 2024 financial results conference call for Wednesday, November 6, 2024, at 5:00 p.m. ET. CEO Gary Kramer and CFO Anthony Harris will host the call, which will follow the release of the company's Q3 2024 financial results. The conference call will include a Q&A session and will be available for replay until December 6, 2024. Participants can join via toll-free or international dial-in numbers, and the call will be broadcast live through the company's website.
Barrett Business Services (BBSI), a leading provider of business management solutions and major PEO in the U.S., has confirmed its attendance at the 2024 Annual Gateway Conference. The event is scheduled for September 4th and 5th at the Four Seasons Hotel in San Francisco, CA.
BBSI executives will be available for one-on-one meetings throughout the conference. This presents an opportunity for investors and analysts to engage directly with the company's leadership. Interested parties can request an invitation or schedule a meeting by emailing conference@gateway-grp.com.
As a NASDAQ-listed company (NASDAQ: BBSI), BBSI's participation in this conference highlights its commitment to investor relations and market visibility.
Barrett Business Services, Inc. (BBSI) (NASDAQ: BBSI), a leading provider of business management solutions and one of the largest professional employer organizations (PEO) in the U.S., has expanded its operations to Pocatello, Idaho. The new branch, located at 1832 Wayfarer Street, Suite B, Pocatello, Idaho 83202, will be overseen by Jeremy Hix, BBSI Area Manager.
This expansion brings BBSI's total number of physical branches to 70 across the United States, strengthening its ability to deliver personalized, locally supported solutions nationwide. The Pocatello branch will offer services in staffing, recruiting, HR, payroll, and safety, catering to the small business community in the area.
Barrett Business Services, Inc. (NASDAQ: BBSI) reported strong Q2 2024 financial results, with revenues up 6% to $279.7 million and gross billings up 6% to $2.03 billion. Net income was $16.7 million, or $0.62 per diluted share. The company's performance was driven by increased worksite employees (WSEs) from new clients and higher average billings per WSE. BBSI raised its quarterly dividend by 7% to $0.08 per share and repurchased 222,780 shares. The company expects 6-8% gross billings growth and 4-5% WSE growth for 2024. BBSI remains debt-free with $110.4 million in unrestricted cash and investments as of June 30, 2024.
Barrett Business Services, Inc. (BBSI) (NASDAQ: BBSI), a leading provider of business management solutions, has announced its upcoming second quarter 2024 earnings conference call. The call is scheduled for Wednesday, July 31, 2024, at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). BBSI's CEO Gary Kramer and CFO Anthony Harris will host the call, which will include a discussion of the company's financial results for the quarter ended June 30, 2024, followed by a Q&A session.
The company will release its financial results in a press release prior to the call. Investors can access the call via toll-free or international dial-in numbers, and a live broadcast will be available on the company's website. A replay of the call will be accessible until August 31, 2024.
Barrett Business Services (BBSI) has announced a four-for-one stock split. Shareholders will receive three additional shares for each share they hold as of June 14, 2024. The new shares will be distributed on June 21, 2024, and trading will resume on a split-adjusted basis on June 24, 2024. This move is intended to improve trading efficiency and broaden investor accessibility. Post-split, BBSI will have approximately 26 million shares outstanding, up from 6,507,409 shares as of May 31, 2024. Second-quarter 2024 earnings per share will be reported on a split-adjusted basis.
Barrett Business Services (BBSI) will present at William Blair’s 44th Annual Growth Stock Conference from June 4-6, 2024, at the Loews Chicago Downtown Hotel. BBSI CEO Gary Kramer and CFO Anthony Harris will present at 10:00 a.m. CT on June 4. The conference includes one-on-one and small group meetings with BBSI's management team. Contact Gateway Group or your William Blair representative for more information or to schedule a meeting.
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