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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) has announced that CEO Patrick Beharelle and CFO Derrek Gafford will participate in the J.P. Morgan Virtual Ultimate Services Investor Conference on Thursday, Nov. 18, 2021. They will also host investor meetings throughout the day. TrueBlue specializes in workforce solutions, connecting approximately 490,000 people with work in 2020. Its segments include PeopleReady for industrial staffing, PeopleManagement for contingent staffing, and PeopleScout for recruitment process outsourcing.
TrueBlue (NYSE: TBI) announces the appointment of Sonita Lontoh to its Board of Directors, effective immediately. With over two decades of experience in technology marketing, Lontoh currently leads marketing efforts at HP Inc. and serves on the board of Sunrun Inc. Her expertise in digital transformation and customer experience is expected to enhance TrueBlue's growth strategies. Chairman Steven Cooper expressed enthusiasm for her contributions to the company's mission of connecting people and work.
TrueBlue reported strong Q3 2021 results with revenue reaching $577 million, up 22% from $475 million in Q3 2020. Net income per diluted share more than doubled to $0.53, compared to $0.25 in the prior year. Adjusted net income per diluted share also increased to $0.59 from $0.24.
The company attributes growth to strong demand and gross margin expansion, especially in its PeopleScout and PeopleManagement segments. TrueBlue emphasizes its investment in technology as key to future growth amidst rising demand for flexible workforce solutions.
PeopleReady, a TrueBlue company (NYSE: TBI), reports a significant workforce shortage impacting holiday hiring. Between August and September, 19 million jobs were posted, with 14 million actively waiting to be filled. The labor scarcity is affecting various sectors, notably hospitality and retail, making it harder to fill traditionally easy positions. PeopleReady highlights in-demand roles this season, including delivery drivers and retail associates, and is holding nationwide hiring events to connect job seekers with opportunities through its JobStack app.
TrueBlue (NYSE: TBI) will release its third quarter 2021 earnings after the market close on October 25, 2021. Management will host a webcast to discuss the results at 2:30 p.m. PT (5:30 p.m. ET) on the same day. TrueBlue offers specialized workforce solutions connecting approximately 490,000 people with work in 2020. Its segments include PeopleReady for industrial staffing, PeopleManagement for contingent staffing, and PeopleScout for recruitment outsourcing. For more information, visit www.trueblue.com.
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