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GEE Group (NYSE American: JOB) reported its fiscal 2024 second quarter and year-to-date results, ending March 31, 2024. Consolidated revenues for Q2 and YTD were $28.0 million and $58.7 million, down 28% and 27%, respectively, from the same periods in fiscal 2023. Professional contract services declined significantly, with revenues down $7.6 million and $14.3 million for Q2 and YTD, respectively. Gross profits and margins also decreased, attributed to lower revenue and factors like inflation and economic uncertainty. SG&A expenses dropped 15% and 16% for Q2 and YTD but increased as a percentage of revenues due to fixed costs against declining revenues. Net income for Q2 and YTD was $(1.0) million and $(2.6) million. Adjusted EBITDA was $(0.6) million for Q2 and $(0.8) million YTD. Free cash flow was $0.4 million YTD compared with $1.3 million in the previous year. GEE Group maintained a cash balance of $21.2 million and zero long-term debt as of March 31, 2024.
GEE Group (NYSE American: JOB), a provider of staffing services and HR solutions, announced an investor webcast/conference call on May 16, 2024, at 11 a.m. EDT to discuss its fiscal second quarter and YTD results ending March 31, 2024. Results will be published on May 15, 2024, after the close of business. The event will be webcast, and pre-registration is required. Prepared remarks will be available on GEE Group’s website before the call. Attendees can submit questions via email during the event. A replay will be accessible shortly after the live event.
