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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, Inc. reported robust financial results for Q4 and fiscal year 2021, demonstrating significant growth. Q4 net income surged to $5.3 million ($0.50 per diluted share), up from $2.2 million in 2020. Adjusted EPS was $0.38, a rise from $0.28. For the full year, net income reached $14.1 million ($1.35 per diluted share), compared to $1.4 million in 2020, with adjusted EPS increasing to $1.33 from $1.08. Revenues for Q4 were $67.7 million, up 37.8%, and $239 million for the year, a 15.4% increase. The company also announced the sale of its InStaff segment to Jobandtalent.
BGSF, Inc. has signed a definitive agreement to sell its Light Industrial segment assets, known as InStaff, to Jobandtalent, a digital workforce marketplace based in Madrid. The transaction is expected to close in Q1 2022, pending customary conditions. This divestiture aligns with BGSF's strategy to focus on high-margin business sectors and enhances their capital for investments in managed services and consulting solutions. InStaff has maintained a 96% client retention rate and is expected to thrive under Jobandtalent.
BGSF, Inc. will hold a conference call on March 10, 2022, at 9:00 a.m. ET to discuss its fourth quarter 2021 financial results. The teleconference will be hosted by Beth Garvey, President and CEO, and Dan Hollenbach, CFO. A press release detailing the financial results will be issued after the market closes on March 9, 2022. Participants can join by calling 844-200-6205 (U.S.) or 929-526-1599 (international) and entering access code 954101. The replay will be available until March 17, 2022.
BGSF, Inc. has declared a quarterly cash dividend of $0.15 per share, payable on February 22, 2022, to shareholders recorded by February 14, 2022. This marks the company's 29th consecutive dividend, reflecting strong operational performance and a 4.3% annualized yield based on recent stock prices. CEO Beth A. Garvey stated confidence in ongoing capital allocation and commitment to returning value to shareholders.
BGSF, Inc. (NYSE: BGSF) reported strong financial results for Q3 2021 with revenues of $82.4 million, a 15.1% increase from 2020. Gross profit rose 25.1% to $24.7 million, improving gross margin to 30.0%. Net income reached $4.6 million ($0.45 per diluted share), up from $2.6 million in 2020. The Board declared a quarterly cash dividend of $0.12 per share, marking the 28th consecutive dividend. Year-to-date, revenues totaled $224.5 million, up 7.8%, and adjusted EPS increased from $0.82 to $0.92. The company faces labor shortages and wage inflation, but remains optimistic about growth.
BGSF, Inc. will present its third quarter 2021 financial results on November 4, 2021, at 9:00 a.m. ET. The conference call, hosted by President and CEO Beth Garvey and CFO Dan Hollenbach, will be accompanied by a press release issued after market close on November 3, 2021. Participants can call 833-316-0561 for U.S. access or 412-317-5735 internationally. A replay will be available until November 11, 2021, and can be accessed using PIN 10160573.
BGSF, a leading provider of workforce solutions, will present at the Taglich Brothers 17th Annual Investment Conference on September 13 at 11:00 a.m. EST in New York. The presentation will be led by
BGSF, Inc. reported strong Q2 2021 results with revenues of $74.4 million, an 18.8% increase year-over-year. Gross profit rose by 28.9% to $21.8 million, while net income improved to $3.4 million, or $0.33 per diluted share, compared to a net loss of $4.8 million in Q2 2020. The Board declared a quarterly cash dividend of $0.12, marking the 27th consecutive quarterly dividend, offering an annualized yield of about 4.1%. Outlook remains positive as segments recover from the pandemic, supported by operational restructuring and new client acquisitions.
BGSF, Inc. (NYSE: BGSF) will discuss its second quarter 2021 financial results on a conference call on August 5, 2021, at 4:30 p.m. ET. The call will be hosted by President and CEO Beth Garvey, along with CFO Dan Hollenbach. A related press release will be available before market opening on the same day.
Participants can join by dialing specific numbers for U.S., international, and Canadian callers. A replay will be accessible until August 12, 2021. BGSF specializes in providing workforce solutions across various industries.
BGSF is participating in the Virtual East Coast IDEAS Investor Conference on June 16-17, 2021. CEO Beth A. Garvey and CFO Dan Hollenbach will host one-on-one meetings on June 17. A webcast of their presentation will be available at 7:00 a.m. CDT on June 16 via the conference portal and BGSF’s investor relations website. BGSF, based in Plano, Texas, provides workforce solutions across various sectors, including IT and finance, and is recognized as one of the largest staffing firms in the U.S.
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