Trueblue, Inc. - TBI STOCK NEWS

PeopleReady Skilled Trades has reported significant growth in demand for skilled trade jobs, with a 10% increase year over year. An analysis revealed over 2.8 million job postings from October 2021 to October 2022, indicating a robust market for young job seekers. The U.S. Bureau of Labor Statistics anticipates faster-than-average employment growth in the construction sector, promising lucrative opportunities. Key roles in demand include electricians and plumbers. With a projected shortage of tradespeople, attracting younger generations to these careers is crucial.

TrueBlue announced that two of its leaders, Taryn Owen and Kristy Willis, were recognized on the Staffing Industry Analysts' Global Power 150 Women in Staffing List for 2022. Taryn Owen, recently appointed President & COO, oversees operational strategies focused on long-term growth and digital transformation. Kristy Willis, as Chief Sales and Field Operations Officer, leads a national sales organization generating over $1B in annual revenue. The announcement underscores TrueBlue's commitment to inclusion and its strong leadership during significant industry challenges.

Centerline Drivers has launched the Drive It Forward scholarship to support women pursuing careers as commercial truck drivers. In honor of Sheila Castaneda, a leader in promoting women in trucking, the scholarship will provide up to $7,500 for tuition in a qualified CDL program. Open to women 21 and older with no prior CDL license, applicants will be considered based on financial need and personal circumstances. The application deadline is December 31, 2022. Centerline connects over 4,500 drivers annually with major companies and has been recognized as a top workplace for women.

TrueBlue (NYSE:TBI) has reported its 2022 third-quarter results, with revenues of $576 million, nearly unchanged from $577 million in Q3 2021. The company saw an increase in net income per diluted share, rising to $0.63 from $0.53 year-over-year. Adjusted net income also improved to $0.75 per diluted share, up from $0.59. CEO Steve Cooper noted improved order fulfillment due to better worker supply, resulting in stronger bill/pay spreads and higher operating income. However, he warned that demand might soften amid rising economic uncertainty.

PeopleReady's recent survey indicates that 60% of seasonal job seekers are actively looking for temporary work, driven by inflation concerns and increased household expenses. Key findings reveal that 53% prioritize wage increases, while 23% value flexible scheduling. Challenges highlighted include finding suitable job hours (28%) and overall job satisfaction (43%). The app JobStack™ has seen significant adoption, facilitating job searches for users. Industries like retail and hospitality are expected to face the toughest hiring challenges this holiday season.

TrueBlue (NYSE: TBI) will announce its third quarter 2022 earnings results on October 24, 2022, after market close. A webcast detailing these results will take place at 2:30 p.m. PT (5:30 p.m. ET) on the same day. TrueBlue is recognized for its specialized workforce solutions, connecting around 615,000 people with work in 2021 across various segments such as PeopleReady, PeopleManagement, and PeopleScout. Investors can access the webcast and financial information via TrueBlue's official website.