Welcome to our dedicated page for Trueblue news (Ticker: TBI), a resource for investors and traders seeking the latest updates and insights on Trueblue stock.
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.
The U.S. job market is rebounding, with over 14 million active job postings surpassing 9.7 million unemployed individuals by 4 million. According to PeopleReady, demand for temporary jobs is rising, including significant increases for warehouse attendants (289%), store associates (256%), and personal shoppers (140%). Taryn Owen, President of PeopleReady, highlights this trend as beneficial for workers seeking flexible employment. To aid job seekers, PeopleReady is hosting a nationwide hiring event accessible via the JobStack app, website, and local offices.
PeopleReady reports a significant surge in job openings related to cleaning services, with over 160,000 positions posted in the last month as businesses reopen across the U.S. Cleaning crew member jobs increased by 364%, while retail housekeeping associate roles saw a 300% rise. Custodial assistant jobs rose 200%, and other cleaning positions experienced an 80% jump. Taryn Owen, president of PeopleReady, emphasized the importance of enhanced cleaning in the return to in-person work.
PeopleReady, a staffing leader, garnered top honors at the 2021 Hermes Creative Awards for its We Are Ready™ branding refresh. The company received a platinum award for its new brand promise, 'Within Reach,' aimed at connecting qualified candidates with employers. It also earned a platinum award for a gamified internal communications campaign and a gold award for its website redesign. The enhancements include a centralized recruitment engine and a new virtual onboarding experience, facilitating a faster hiring process, reducing time to assignment by 87%.
TrueBlue (NYSE:TBI) reported first-quarter 2021 revenue of $459 million, a 7% decline from $494 million in Q1 2020. The company's net income per diluted share was $0.20, a significant improvement from a net loss of $4.04 in the same period last year, which included a $175 million impairment charge. Adjusted net income per diluted share was $0.25, compared to a $0.01 loss in Q1 2020. CEO Patrick Beharelle noted revenue recovery, disciplined cost management, and new business wins as key factors for the positive outlook amidst an economic rebound.
Following a year of pandemic-induced challenges, the construction industry is witnessing a remarkable recovery with an estimated 500,000 jobs available across the U.S. this season. According to PeopleReady, these positions offer on-the-job training, providing workers the chance to regain financial stability. President Taryn Owen emphasized the importance of temporary jobs for skill development and income. Notable in-demand roles include roofing helpers, general construction workers, and concrete workers. PeopleReady is actively connecting job seekers through hiring events and its JobStack app.
TrueBlue (NYSE: TBI) is set to release its first quarter 2021 earnings results on April 26, 2021, after market close. A management discussion will follow via a webcast at 2:30 p.m. PT (5:30 p.m. ET) on the same day. In 2020, TrueBlue connected around 490,000 people with work across its specialized workforce solutions, including PeopleReady, PeopleManagement, and PeopleScout. For more information, the webcast and presentation details will be available on TrueBlue's website.
TrueBlue has announced that its Chief People Officer, Andrea Brogger, has been recognized as one of the 10 most influential HR leaders in the U.S. by Insights Success magazine. This acknowledgment highlights her innovative HR practices, employee engagement initiatives, and the alignment of people strategy with business outcomes. The recognition underscores the significant role of HR in driving business success. Brogger joined TrueBlue in 2011, becoming Chief People Officer in 2020, and has been pivotal in enhancing workplace culture and employee empowerment.
PeopleReady reports significant growth in temporary job postings, indicating a potential economic recovery. Key sectors experiencing a rebound include:
- Equipment operators: 300% increase
- Painters: 300% increase
- Material movers: 233% increase
- Retail associates: 200% increase
- Assembly associates: 80% increase
This trend suggests that permanent full-time positions may rise in the next 6 to 12 months. With nearly 10 million Americans seeking work, this growth is a positive sign for the labor market.
TrueBlue (NYSE: TBI) announced that CEO Patrick Beharelle and CFO Derrek Gafford will present at the Sidoti Virtual Investor Conference on March 24, 2021, at 3:15 p.m. Eastern Time. A live webcast and replay will be accessible via the company’s Investor Relations website and here.
As a leading provider of workforce solutions, TrueBlue connected around 490,000 individuals with employment in 2020, offering services through its PeopleReady, PeopleManagement, and PeopleScout segments.
FAQ
What is the current stock price of Trueblue (TBI)?
What is the market cap of Trueblue (TBI)?
What industries does TrueBlue, Inc. serve?
What are the main segments of TrueBlue, Inc.?
How many people does TrueBlue connect to work annually?
What recent research has TrueBlue conducted?
How does PeopleReady support the hospitality industry?
What is PeopleScout's role within TrueBlue?
How does TrueBlue address the skills gap in the workforce?
What technologies does PeopleScout use for talent acquisition?
Where is TrueBlue headquartered?
How does TrueBlue's PeopleManagement segment operate?
