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BGSF, Inc. (NYSE: BGSF) is a nationwide leader in strategic workforce solutions, headquartered in Plano, Texas. BGSF provides a comprehensive range of workforce solutions to various industries through its family of professional staffing companies, bringing over 100 years of combined experience. The company operates primarily in two segments: Property Management and Professional.
In the Property Management segment, BGSF offers office and maintenance talent to clients, facilitating their staffing needs with both short-term and consulting solutions. Brands like BG Multifamily deliver front office and maintenance temporary talent for apartment communities, ensuring streamlined operations and tenant satisfaction.
The Professional segment is diversified, offering specialized staffing solutions in several key areas. InStaff provides end-to-end workforce and onsite management solutions for warehousing, manufacturing, administration, and call centers. Donovan & Watkins focuses on accounting & finance, HR, engineering, legal, and administrative talent. Smart Resources Accountable Search targets accounting & finance and administrative roles. American Partners and Extrinsic specialize in EPM, CPM, and ERP solutions, with a focus on Oracle, Hyperion, PeopleSoft, Workday, and SAP.
Moreover, Vision Technology Services provides IT consulting and project management services, engaging with Fortune 500 companies and consulting firms nationwide. BGSF's workforce services include on-demand assignments, consulting, and managed solutions, allowing clients to flexibly manage their workforce needs.
With a strategic approach to converting fixed personnel costs to variable expenses, BGSF enables companies to effectively address fluctuations in demand while optimizing costs. This approach has made BGSF a valuable partner for businesses seeking to streamline their workforce strategies and enhance productivity.
Recent Achievements and Current Projects:
- Expansion of service offerings in the IT segment with new partnerships and technologies.
- Recent accolades for client satisfaction in property management staffing solutions.
- Increased focus on sustainable and inclusive hiring practices across all segments.
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.
BGSF, Inc. (NYSE: BGSF), a leading workforce solutions provider, has been ranked #46 in the Dallas Business Journal's 2024 Fast 50 list. This recognition celebrates the fastest-growing companies in North Texas with annual revenues between $10 million and $1 billion, based on percentage revenue growth over three years.
Beth Garvey, BGSF's Chair, President, and CEO, expressed pride in the company's achievement, attributing their success to innovative solutions, challenging the status quo, and positive community impact. The ranking acknowledges BGSF's strategic vision, business agility, and collaborative culture as key differentiators in the workforce solutions industry.
BGSF, Inc. (NYSE: BGSF) reported its Q2 2024 financial results. Revenues were $68.1 million, down slightly from $68.8 million in Q1. The Property Management segment saw a 4.8% increase, while the Professional segment declined 4.1%. Gross profit rose to $23.6 million from $23.4 million in Q1. The company reported a net loss of $0.8 million, or $0.07 per diluted share, unchanged from Q1. Adjusted EBITDA was $2.6 million (3.8% of revenues), down from $2.7 million (4.0% of revenues) in Q1. Despite weak Q2 performance, BGSF anticipates stronger revenue in the second half of 2024, driven by recent project wins and growth in managed services and consulting engagements.
BGSF, Inc. (NYSE: BGSF), a provider of consulting, managed services, and workforce solutions, has announced the timing for its second quarter fiscal year 2024 results release and earnings conference call. The company will release its results on Wednesday, August 7, 2024, after the market close. An earnings conference call, teleconference, and webcast will be hosted by Beth Garvey, Chair, President, and CEO, and John Barnett, CFO, on Thursday, August 8, 2024, at 9:00 am ET.
Participants can dial 1-844-481-3017 (Toll-Free) or 1-412-317-1882 (International) to join. A call replay will be available until August 15, 2024, accessible via 1-877-344-7529 (Toll-Free) or 1-412-317-0088 (International) with access code 4959867. The live webcast can be accessed through the company's investor relations website.
BGSF, Inc. (NYSE: BGSF) has improved its position in the Staffing Industry Analysts (SIA) U.S. 2024 rankings. The company moved up to 97th place from 121st in the Largest Staffing Firms category, based on 2023 revenues for its combined Professional and Property Management segments. Additionally, BGSF climbed to 49th place from 52nd in the Largest IT Staffing Firms in the U.S. category.
Beth Garvey, Chair, President, and CEO of BGSF, expressed excitement about the company's progress, highlighting the significance of breaking into the top 100 U.S. staffing firms and the top 50 U.S. IT staffing firms. She attributed this success to the team's dedication in delivering value and excellence to customers and strategic partners.
BGSF, Inc. reported financial results for Q1 2024, with revenues at $68.8 million compared to $75.3 million in 2023. Despite a net loss of $0.8 million, the company remains optimistic about growth opportunities in high-value consulting services and strategic partnerships.
BGSF, Inc. (NYSE: BGSF) has announced a review of strategic alternatives and the suspension of its quarterly cash dividend until the review is complete. The company aims to maximize shareholder value amidst market valuation challenges. Houlihan Lokey has been engaged as financial advisors for this evaluation. However, the outcome of the review remains uncertain, and the company will refrain from further comments until deemed necessary.
BGSF, Inc., a provider of consulting, managed services, and workforce solutions, will release its first quarter fiscal year 2024 results on May 8, 2024. The earnings conference call hosted by the CEO and CFO will take place on May 9, 2024. Interested participants can access the call via phone or webcast.
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