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TrueBlue, Inc. (NYSE: TBI) is a premier provider of staffing, recruiting, and workforce management solutions, supporting a diverse range of industries including construction, energy, manufacturing, financial services, pharmaceuticals, transportation, and aviation. TrueBlue assigns as many as 100,000 individuals to work daily, drawing from an extensive database of candidates, and places over 250,000 people in permanent positions annually.
The company's operations are structured into three main segments:
- PeopleReady: Specializes in industrial staffing services, offering on-demand labor solutions to meet immediate workforce needs.
- PeopleManagement: Provides contingent, on-site industrial staffing and productivity-based services, catering to clients' specific operational requirements.
- PeopleScout: Offers a range of recruitment process outsourcing (RPO) services, talent advisory, and managed service provider (MSP) solutions, helping organizations streamline their hiring processes and achieve better talent outcomes.
Recently, TrueBlue's research through PeopleScout, in collaboration with Spotted Zebra, revealed that 90% of HR leaders believe that half of their workforce will need reskilling in the next five years. Despite this, only 7% have active reskilling programs. The study highlighted the critical need for skills-based talent acquisition and management strategies as global labor trends evolve due to automation, AI adoption, and other technological advancements.
TrueBlue remains a trusted advisor to numerous clients across various sectors, addressing the widening skills gap and emphasizing the importance of future-focused skills strategies. In 2022, TrueBlue served 84,000 clients and connected approximately 611,000 people to work. In 2023, the company served 67,000 clients, connecting around 464,000 people to job opportunities.
The PeopleReady segment is currently gearing up for the summer hiring surge in the hospitality industry, connecting businesses with qualified workers for major events like the Indy500, NBA Finals, and U.S. Open, among others. With a comprehensive presence in more than 600 markets across the U.S., PeopleReady's JobStack app allows job seekers to find work conveniently from their mobile devices.
TrueBlue (NYSE:TBI) reported its Q4 and full-year 2024 results, showing a revenue decline to $386 million in Q4 (down 16% on a comparable 13-week basis) and $1.6 billion for the full year (down 17% on a comparable 52-week basis). The company recorded a Q4 net loss of $12 million, compared to a $3 million loss in the prior year period.
Despite challenging market conditions, TrueBlue achieved an improvement in SG&A expenses, which decreased 18% to $107 million, and increased Adjusted EBITDA to $9 million from $5 million year-over-year. The company ended the period with $23 million in cash, $8 million in debt, and $119 million in borrowing availability.
Notably, TrueBlue acquired Healthcare Staffing Professionals, Inc. (HSP) for $42 million effective January 31, 2025, expanding its presence in the healthcare staffing sector.
TrueBlue (NYSE: TBI) announced significant recognition for its brands in the ClearlyRated 2025 Best of Staffing Awards. Staff Management | SMX received the prestigious 10-Year Diamond distinction, marking a decade of consistent service excellence. Additionally, SIMOS Solutions and Centerline Drivers secured awards for the fourth consecutive year, specifically for their dedication to client satisfaction.
These awards, exclusive to the U.S. and Canada, are based entirely on ratings from clients, placed talent, and internal employees, representing superior service quality in the staffing industry. TrueBlue's President and CEO, Taryn Owen, emphasized that these recognitions reflect the company's commitment to delivering high-quality customer service and helping clients address their workforce challenges.
TMP Worldwide UK, the UK's largest recruitment marketing agency, has been selected as a delivery partner by Serco to provide employer brand and candidate attraction services for the UK Armed Forces. The contract, awarded by the UK Ministry of Defence, will run for seven years with potential three one-year extensions.
The comprehensive service will cover the Royal Navy, British Army, Royal Air Force, and Strategic Command, encompassing candidate attraction, assessment, enlistment, and onboarding into initial training. The project includes a 21-month mobilisation period starting in Q2 2025, with full service launch in early 2027.
TrueBlue (NYSE: TBI) has announced it will release its fourth quarter and full-year 2024 earnings results after market close on Wednesday, February 19, 2025. The company will host a webcast at 2:00 p.m. PT (5:00 p.m. ET) on the same day to discuss the results.
The webcast will include a presentation of financial information and will be accessible through TrueBlue's website. An audio replay will remain available on the company's website for six months following the call.
TrueBlue Inc. (NYSE: TBI) has announced the acquisition of Healthcare Staffing Professionals, Inc. (HSP), a healthcare staffing solutions provider specializing in nursing, allied health, behavioral health, and various research, IT and administrative roles. HSP operates across multiple states including California, Texas, North Carolina, Michigan and Pennsylvania, primarily serving state and local government entities.
The acquisition aligns with TrueBlue's strategic priority to expand in high-growth markets, particularly targeting the healthcare sector driven by an aging population. HSP will continue operating under its current brand within TrueBlue. While specific transaction terms weren't disclosed, TrueBlue's CFO indicated the company took on modest debt with favorable terms to complete the acquisition at an attractive multiple.
The merger aims to combine HSP's healthcare staffing expertise and client roster with TrueBlue's extensive footprint, technology, and recruitment capabilities to drive market expansion and revenue opportunities.
TrueBlue (NYSE: TBI) announced significant enhancements to its PeopleScout's Affinix® talent software technology suite. The upgraded platform features advanced AI-powered capabilities, a modular deployment approach, and comprehensive analytics tools.
The enhanced Affinix platform offers key improvements including AI-powered precision for candidate identification, flexible deployment options allowing organizations to select specific tools, and a configurable business intelligence suite. The system aims to reduce recruitment costs through intelligent budget mapping, improve hire quality via AI-powered tools, accelerate time-to-hire with automated workflows, enhance candidate experience through a digital-first approach, and provide deeper talent insights through unified analytics.
The platform connects critical recruitment technologies including applicant tracking, candidate relationship management, digital interviewing, and talent analytics. Built by in-house experts, Affinix offers deployment options ranging from standalone implementation to full integration with existing systems.
TrueBlue (NYSE: TBI) announced the launch of the next generation of PeopleReady's JobStack staffing app, featuring new ReadyMatch technology for instant worker matching. The enhanced app includes key features like Instant Accept for immediate shift acceptance, improved worker ratings, development opportunities, and coordinated jobsite management across multiple locations.
The app is supported by hundreds of branch teams across all 50 states, combining digital convenience with local service. JobStack enables 24/7 access to E-Verified workers without recruitment, paperwork, or payroll burdens for employers, while offering job seekers flexible work opportunities and easy schedule management.
TrueBlue executives Taryn Owen (President and CEO) and Kristy Willis (PeopleReady President) have been named to the Staffing Industry Analysts' Global Power 150 Women in Staffing List. This marks Owen's eighth consecutive year and Willis' fifth appearance on the prestigious list.
The company has achieved notable milestones including the successful deployment of its JobStack app, diversification of RPO business into higher skilled placements, and enhanced cross-selling initiatives. Despite challenging labor market conditions, TrueBlue continues to demonstrate strong leadership in specialized workforce solutions, focusing on connecting people with work opportunities while driving organizational growth.
TrueBlue (NYSE:TBI) reported its Q3 2024 financial results, showing revenue of $382 million, down 19% from $473 million in Q3 2023. The company posted a net loss of $8 million compared to breakeven in the prior year period. SG&A expenses were reduced by 17% to $100 million, and Adjusted EBITDA was $5 million versus $10 million year-over-year. The company maintains zero debt with $15 million in cash and $133 million in borrowing availability. During Q3, TrueBlue repurchased $4 million in shares with $34 million remaining under authorization. Management noted challenging market conditions while focusing on digital transformation, market expansion, and organizational simplification.
TrueBlue's (NYSE: TBI) subsidiary Centerline Drivers has been named one of the Top Companies for Women to Work for in Transportation by the Women in Trucking Association for the sixth consecutive year. The award recognizes companies promoting women's employment in trucking with positive environments, competitive benefits, and advancement opportunities.
Centerline demonstrates strong diversity metrics, with women holding 50% of leadership positions and comprising two-thirds of the workforce. The company has implemented recruitment initiatives, mentorship programs, and scholarships to support women in transportation. The recognition was determined through over 30,000 industry professional votes.
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