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.
PeopleReady, a TrueBlue company (NYSE: TBI), has been named a Leader in Everest Group's U.S. Industrial Contingent Talent and Strategic Solutions PEAK Matrix® 2024 for the second consecutive year. The company was recognized for its Skilled Trades division, successful renewables program, and digital staffing platform JobStack. PeopleReady's strengths include its ability to source general and skilled talent across industries like construction, renewable energy, logistics, manufacturing, hospitality, and retail. The company's initiatives include the WorkUp program for workforce upskilling and an omnichannel delivery approach combining physical presence with digital solutions.
TrueBlue (NYSE: TBI) has announced that it will release its third quarter 2024 earnings results after the market close on Monday, November 4, 2024. The company will host a webcast to discuss the results at 2:00 p.m. PT (5:00 p.m. ET) on the same day. Investors and interested parties can access the webcast and a presentation of financial information on TrueBlue's official website at www.trueblue.com. For those unable to attend the live webcast, an audio replay will be available on the company's website for six months following the call.
TrueBlue's Centerline Drivers celebrated its fourth annual 'Respect the Drive Month' to honor truck drivers nationwide. The initiative aims to address the industry's driver shortage and appreciation issues, as highlighted in Centerline's State of Trucking 2024 survey. Nearly 25% of drivers reported feeling underappreciated as a key reason for seeking a new profession.
Jill Quinn, President of Centerline Drivers, emphasized the important role drivers play in the organization and economy. This year, Centerline introduced the Respect the Drive Customer Awards program to recognize companies demonstrating leadership in safety, inclusivity, and fostering a positive culture for drivers. The awards include:
- Open Road Award
- Driver Culture Award
- Safety Award
- Respect the Drive Award
These initiatives reflect Centerline's commitment to celebrating and supporting truck drivers year-round.
TrueBlue (NYSE: TBI), a leading provider of specialized workforce solutions, has announced its participation in the Sidoti Virtual Investor Conference. CEO Taryn Owen and CFO Carl Schweihs will engage in a fireside chat on Wednesday, September 18th at 3:15 PM Eastern Time.
Investors and interested parties can access a live webcast of the event through TrueBlue's Investor Relations website at investor.trueblue.com. A replay will also be available for those unable to attend the live session. Additionally, TrueBlue's management team will be hosting virtual meetings throughout the day, providing further opportunities for engagement with investors.
TrueBlue (NYSE: TBI) reported its Q2 2024 results, showing significant challenges. Revenue decreased 17% to $396 million compared to $476 million in Q2 2023. The company reported a net loss of $105 million, including a $45 million non-cash goodwill and intangible asset impairment charge and a $55 million valuation allowance charge on deferred tax assets. Despite these challenges, TrueBlue reduced SG&A expenses by 20% to $97 million and maintained a strong financial position with zero debt, $26 million in cash, and $132 million in borrowing availability.
CEO Taryn Owen acknowledged the ongoing economic uncertainty affecting the temporary staffing industry but emphasized the company's progress in advancing strategic priorities, including digital transformation and expansion into skilled trades and healthcare markets. TrueBlue is focusing on organizational simplification and cost reduction to better position itself for future growth opportunities.
TrueBlue (NYSE: TBI) has announced that it will release its second quarter 2024 earnings results after the market closes on Monday, August 5, 2024. The company will hold a webcast at 2:00 p.m. PT (5:00 p.m. ET) on the same day to discuss the results. Investors and interested parties can access the webcast and a presentation of financial information on TrueBlue's official website at www.trueblue.com. For those unable to attend the live webcast, an audio replay will be available on the company's website for six months following the call.
TrueBlue's PeopleScout has been recognized as a global Leader in Everest Group's 2024 Recruitment Process Outsourcing (RPO) Services PEAK Matrix® Assessment for the sixth consecutive year. This designation highlights PeopleScout's expertise in various sectors including healthcare, retail, and manufacturing. The company's recent launch of tech-driven RPO solutions and sustained investments in its Affinix technology platform have reinforced its leadership position. Everest Group's assessment identifies PeopleScout's strengths in global capabilities, talent advisory services, and innovative technology solutions. This recognition underlines PeopleScout's ability to deliver comprehensive and scalable talent strategies that drive business outcomes.
TrueBlue (NYSE: TBI), a leading provider of workforce solutions, announced that CEO Taryn Owen and CFO Carl Schweihs will participate in a fireside chat at the Sidoti Virtual Investor Conference on June 12th at 4:00 PM Eastern Time. Attendees can access a live webcast and replay via TrueBlue’s Investor Relations website. Additionally, management will conduct virtual meetings throughout the day.
TrueBlue (NYSE: TBI) announced that its CEO, Taryn Owen, and CFO, Carl Schweihs, will participate in the Baird Global Consumer, Technology & Services Conference on June 5th in Tacoma, Wash. The event offers them a platform to engage directly with investors and discuss company strategies and performance. TrueBlue is a leading provider of specialized workforce solutions.
TrueBlue's PeopleReady Skilled Trades division is addressing the ongoing skilled labor shortage in the U.S. through the fourth annual Respect the Craft™ month. There have been nearly 300,000 unique skilled trades job postings since early 2024, with a 10% increase over the past 90 days. Notable increases include stonemasons at 64%, carpenters at 18%, and construction laborers at 16%. This initiative highlights the contributions of tradespeople and aims to boost recruitment and retention through innovative strategies. The celebration includes personal stories from skilled workers, emphasizing their passion and commitment to their craft.
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