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BGSF Inc (NYSE: BGSF) delivers workforce solutions through specialized staffing and consulting services across property management and technology sectors. This news hub provides investors and industry professionals with essential updates on corporate developments, financial performance, and strategic initiatives.
Access timely press releases covering earnings announcements, leadership changes, client partnerships, and operational expansions. Our curated collection serves as a definitive resource for understanding BGSF's market position in temporary talent placement and enterprise workforce management solutions.
Key updates include developments across BGSF's service brands such as BG Multifamily staffing solutions, Vision Technology Services IT consulting, and Donovan & Watkins professional placements. Track meaningful events impacting the company's dual-segment strategy in property services and high-skill technical staffing.
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BGSF (NYSE: BGSF), a national provider of consulting and workforce solutions, has announced a strategic partnership with SISSCORP, a Workday® Innovation Partner. The collaboration introduces SISSTEX©, a specialized application built on the Workday® platform designed to help Texas higher education institutions meet compliance and regulatory requirements.
The partnership focuses on streamlining state-mandated reporting processes for Texas colleges and universities. SISSTEX© automates the creation of reports required by the Texas Legislature and Higher Education Coordinating Board, featuring built-in integrations for data extraction from auxiliary systems.
Eric Peters, Professional Division President at BGSF, emphasized the partnership's goal of providing modern, automated solutions for higher education partners. BGSF brings expertise in Workday implementations, offering services including feature adoption, business transformation, staff augmentation, and post-production support.
BGSF (NYSE: BGSF), a strategic workforce solutions provider, has received the Best Place for Working Parents® designation for the fifth consecutive year. This recognition acknowledges the company's implementation of ten key family-friendly policies, including paid time off, parental leave, flexible work schedules, and childcare assistance.
The designation, as highlighted by Chair, President and CEO Beth Garvey, reflects BGSF's commitment to supporting working parents through policies that promote work-life balance and create an inclusive workplace environment. The company views these family-oriented initiatives as essential for driving employee engagement, retention, and overall business success.
BGSF (NYSE: BGSF), a national provider of consulting, managed services and workforce solutions, has announced a leadership transition in its finance department. Keith Schroeder will assume the position of Chief Financial Officer after the filing of the Annual Report on Form 10-K for fiscal year 2024, succeeding John Barnett, who served as CFO since 2023.
Schroeder brings over 40 years of experience in accounting, corporate control, finance, and strategic leadership roles. His most recent positions include serving as President and Chief Executive of Novipax Buyer, (2020-2024) and CFO of Novipax (2019-2020). He previously held CEO and CFO positions at Xcaliber International and Orchids Paper Products, and worked with Cummins Engine Company and Atlas Van Lines.
BGSF Inc (NYSE: BGSF) reported Q4 2024 financial results, showing revenue of $64.4 million, down from $71.2 million in Q3 2024. The company experienced a net loss of $1.0 million ($0.10 per diluted share) compared to Q3's loss of $0.8 million.
The Property Management segment saw an 18.5% revenue decrease due to seasonal demand, while the Professional segment declined 3.0% due to fewer billing days. Gross profit dropped to $21.5 million from Q3's $24.3 million. Adjusted EBITDA was $1.4 million (2.2% of revenues), down from $3.4 million (4.8% of revenues).
The company implemented a cost restructuring plan in late 2024, targeting annual expense savings of $7-9 million. Management noted revenue stabilization as 2024 progressed, with similar trends observed in early 2025. The company continues its strategic review process, expected to last 12-18 months from May 2024.
BGSF (NYSE: BGSF), a provider of consulting, managed services and workforce solutions, has scheduled its fourth quarter and fiscal year 2024 earnings release for March 12, 2025, after market close. The company will host an earnings conference call and webcast on March 13, 2025 at 9:00 am ET.
Participants can join the call via phone at 1-844-481-3017 (Toll-Free) or 1-412-317-1882 (International). A replay will be available until March 20, 2025, accessible at 1-877-344-7529 (Toll-Free) or 1-412-317-0088 (International) using access code 3405111. The webcast can be accessed through BGSF's investor relations website section.
BGSF (NYSE: BGSF), a national provider of consulting, managed services, and workforce solutions, has released new research data focused on its Property Management segment. The company has published a report titled 'From Satisfaction to Retention: Understanding Property Management Teams,' which analyzes the evolving priorities of property management professionals and provides strategies for employee retention.
Chair, President and CEO Beth Garvey highlighted that renting and multi-family developments will continue to grow and adapt to generational needs in 2025, particularly given the environment of elevated interest rates and reduced home affordability. Kelly Brown, President of BGSF Property Management, emphasized that the report serves as a roadmap for property management firms to strengthen employee satisfaction and create supportive work environments.
BGSF has announced a comprehensive cost restructuring plan as part of its ongoing strategic review process. The plan, implemented in Q4, aims to reduce annual compensation and benefit expenses by approximately $5 million. Additional expense reductions planned for 2025 are expected to yield $2-4 million in savings. The company also anticipates reducing annual cash capital expenditures by $800,000 in 2025 through shifting development support to its recently acquired near-shore operation.
CEO Beth Garvey noted that both operating divisions continue to face uncertainties and macro pressures. The strategic review process, initiated in May 2024, is expected to take 12-18 months to complete.
BGSF reported Q3 2024 financial results with revenues of $71.2 million, up from $68.1 million in Q2. The Property Management segment saw a 15.9% revenue increase due to seasonal demand, while Professional segment declined 2.5%. The company posted a net loss of $0.8 million, or $0.07 per diluted share. Adjusted EBITDA was $3.2 million (4.5% of revenues), improving from $2.6 million in Q2. The company launched new lead generation technology, resulting in improved lead acquisition and conversion rates. Despite economic uncertainties, IT consulting maintained stable revenues, while Finance & Accounting experienced lower project work due to seasonality.
BGSF, Inc. (NYSE: BGSF), a provider of consulting, managed services, and workforce solutions, has announced the timing for its third quarter fiscal year 2024 results release and earnings conference call. The company will release its results on Wednesday, November 6, 2024, after the market close. Following this, Beth Garvey, Chair, President, and CEO, along with John Barnett, CFO, will host an earnings conference call and webcast on Thursday, November 7, 2024, at 9:00 am ET.
Interested participants can join the call by dialing 1-844-481-3017 (Toll-Free) or 1-412-317-1882 (International). A call replay will be available until November 14, 2024, accessible by dialing 1-877-344-7529 (Toll-Free) or 1-412-317-0088 (International) with access code 4519768. The live webcast can be accessed through the investor relations section of BGSF's website.
BGSF, Inc. (NYSE: BGSF) has been officially designated as an SAP Services Partner, expanding its service offerings and accelerating digital transformation for clients. This strategic partnership focuses on SAP's core solutions, including SAP S/4HANA and SAP Cloud.
As an SAP Services Partner, BGSF will utilize the SAP Activate methodology to fast-track innovation through pre-built content, accelerators, and best practices. The collaboration aims to support organizations in their journey toward smarter, more efficient business processes, fostering innovation and operational excellence.
BGSF's Managed Solutions and Business Consulting services will concentrate on SAP S/4HANA upgrades, ensuring clients benefit from faster time-to-value and reduced operational disruption. This partnership solidifies BGSF's position as a leader in providing innovative workforce solutions, backed by SAP's industry-leading technologies.
