TrueBlue (NYSE: TBI) is a leading provider of specialized workforce solutions that help clients achieve business growth and improve productivity. In 2019, TrueBlue connected approximately 724,000 people and work. Its PeopleReady segment offers on-demand, industrial staffing, PeopleManagement offers contingent, on-site industrial staffing and commercial driver services, and PeopleScout offers recruitment process outsourcing (RPO) and managed service provider (MSP) solutions to a wide variety of industries.

Company profile
Ticker
TBI
Exchange
Website
CEO
A. Patrick Beharelle
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
LABOR READY INC
SEC CIK
Corporate docs
Subsidiaries
Centerline Drivers, LLC • Labor Ready Holdings, Inc. • Labour Ready Temporary Services, Ltd. • PeopleReady, Inc. • PeopleReady Florida, Inc. • PeopleScout, Inc. • PeopleScout MSP, LLC • PeopleScout Pty, Ltd • PeopleScout Singapore Pte. Ltd. • SIMOS Insourcing Solutions, LLC ...
IRS number
911287341
TBI stock data
News
Press releases
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of TrueBlue, Inc. - TBI
25 Jun 22
Bragar Eagel & Squire, P.C. Is Investigating Outset Medical, TrueBlue, Gap, and NeoGenomics and Encourages Investors to Contact the Firm
24 Jun 22
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of TrueBlue, Inc. - TBI
23 Jun 22
PeopleScout's Affinix™ Recognized in 2022 HR Tech Awards
23 Jun 22
ROSEN, RESPECTED INVESTOR COUNSEL, Encourages TrueBlue, Inc. Investors With Losses to Inquire About Securities Class Action Investigation - TBI
21 Jun 22
Analyst ratings and price targets
Calendar
25 Apr 22
26 Jun 22
25 Dec 22
Financial summary
Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
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Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 93.78M | 93.78M | 93.78M | 93.78M | 93.78M | 93.78M |
Cash burn (monthly) | 3.14M | 3.95M | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 9.42M | 11.86M | n/a | n/a | n/a | n/a |
Cash remaining | 84.35M | 81.91M | n/a | n/a | n/a | n/a |
Runway (months of cash) | 26.9 | 20.7 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
1 May 22 | Garrett Ferencz | Common Stock | Payment of exercise | Dispose F | No | No | 25.57 | 225 | 5.75K | 52,175 |
8 Mar 22 | Derrek Lane Gafford | Common Stock | Buy | Acquire P | No | No | 25.21 | 15,000 | 378.15K | 93,289 |
15 Feb 22 | Richard Christensen | Common Stock | Sell | Dispose S | No | No | 27.05 | 305 | 8.25K | 13,776 |
11 Feb 22 | A. Patrick Beharelle | Common Stock | Payment of exercise | Dispose F | No | No | 26.66 | 5,822 | 155.21K | 271,602 |
11 Feb 22 | Richard Christensen | Common Stock | Payment of exercise | Dispose F | No | No | 26.66 | 180 | 4.8K | 14,081 |
11 Feb 22 | Garrett Ferencz | Common Stock | Payment of exercise | Dispose F | No | No | 26.66 | 208 | 5.55K | 51,542 |
Institutional ownership, Q1 2022
97.4% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 178 |
Opened positions | 20 |
Closed positions | 18 |
Increased positions | 51 |
Reduced positions | 73 |
13F shares | Current |
---|---|
Total value | 947.52M |
Total shares | 32.4M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 5.77M | $166.63M |
Vanguard | 4.28M | $123.74M |
Dimensional Fund Advisors | 2.47M | $71.48M |
Hotchkis & Wiley Capital Management | 2.1M | $60.59M |
PZN Pzena Investment Management | 1.77M | $51.28M |
ArrowMark Colorado | 1.33M | $38.53M |
STT State Street | 1.28M | $36.87M |
JPM JPMorgan Chase & Co. | 839.59K | $24.26M |
IVZ Invesco | 755.37K | $21.82M |
Charles Schwab Investment Management | 667.63K | $19.29M |
Financial report summary
?Risks
- COVID-19 and the resulting governmental reactions to COVID-19 have negatively impacted our business and could have a continued material adverse impact on our business, financial condition, liquidity and results of operations.
- Advances in technology may disrupt the labor and recruiting markets. Failure to constantly improve our technology to meet the expectations of clients, associates, candidates and employees could have a negative impact on our financial position and results of operations.
- We are dependent on obtaining workers’ compensation and other insurance coverage at commercially reasonable terms. Unexpected changes in claim trends on our workers’ compensation or an inability to obtain appropriate insurance coverage may negatively impact our financial condition.
- Demand for our workforce solutions is significantly affected by fluctuations in general economic conditions.
- The loss of, continued reduction in or substantial decline in revenue from larger clients or certain industries could have a material adverse effect on our revenues, profitability and liquidity.
- Our business and operations have undergone, and will continue to undergo, significant change as we seek to improve our operational and support effectiveness, which if not managed effectively could have an adverse outcome on our business and results of operations.
- New business initiatives may cause us to incur additional expenditures and could have an adverse effect on our business.
- Damage to our brands and reputation could have an adverse effect on our business.
- We may not achieve the intended effects of our business strategy which could negatively impact our results.
- Outsourcing certain aspects of our business could result in disruption and increased costs.
- We cannot guarantee that we will repurchase our common stock pursuant to our share repurchase program or that our share repurchase program will enhance long-term shareholder value.
- Our level of debt and restrictions in our credit agreement could negatively affect our operations and limit our liquidity and our ability to react to changes in the economy.
- We may have additional tax liabilities that exceed our estimates.
- Failure to maintain adequate financial and management processes and controls could lead to errors in our financial reporting.
- We may experience employment-related claims, commercial indemnification claims and other legal proceedings that could materially harm our business.
- Failure to protect our intellectual property could harm our business, and we face the risk that our services or products may infringe upon the intellectual property rights of others.
- Failure to maintain adequate compliance policies and controls may not prevent violations that could result in significant fines and penalties.
- Our workforce solutions are subject to extensive government regulation and the imposition of additional regulations, which could materially harm our future earnings.
- We may be unable to attract sufficient qualified associates and candidates to meet the needs of our clients.
- We operate in a highly competitive industry and may be unable to retain clients, market share or profit margins.
- Cybersecurity vulnerabilities and incidents could lead to the improper disclosure of information about our clients, candidates, associates and employees.
- Data security, data privacy and data protection laws and other technology regulations increase our costs.
- Improper disclosure of, or access to our clients’ information could materially harm our business.
- Failure of our information technology systems could adversely affect our operating results.
- Our facilities and operations are vulnerable to damage and interruption.
- Our results of operations could materially deteriorate if we fail to attract, develop and retain qualified employees.
- Acquisitions may have an adverse effect on our business.
- We face risks in operating internationally.
- The price of our common stock may fluctuate significantly, which may result in losses for investors.
Management Discussion
- Certain statements in this Form 10-Q, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives and expected operating results, the impact of and our ongoing response to COVID-19, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve risks and uncertainties, and future events and circumstances could differ significantly from those anticipated in the forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “goal,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, which may cause actual results to differ materially from those expressed or implied in our forward-looking statements, including the risks and uncertainties described in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (Part I, Item 2 of this Form 10-Q),“Quantitative and Qualitative Disclosures about Market Risk” (Part I, Item 3 of this Form 10-Q), and “Risk Factors” (Part II, Item 1A of this Form 10-Q). We undertake no duty to update or revise publicly any of the forward-looking statements after the date of this report or to conform such statements to actual results or to changes in our expectations, whether because of new information, future events, or otherwise.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Good
|
New words:
accrual, affirmative, ahead, appetite, capacity, capture, compromised, conflict, contraction, convey, core, cyclical, dialogue, drawn, enabled, Enterprise, Fargo, February, formal, fragmented, fronting, fueled, gain, HSBC, hybrid, instability, Interbank, inventory, KeyBank, lender, LIBOR, loan, London, placement, PNC, prime, properly, prospective, reoccur, respond, running, slight, standby, surge, Swingline, tightly, Treasurer, turn, underserved, unforeseen, USA, weather, weekly
Removed:
achieved, adequacy, administration, Affordable, aid, American, amortizable, ample, approach, audience, branded, closely, collateralizing, Complementing, composed, compression, consistent, consulting, create, created, Dakota, degree, determinable, development, disproportionately, driver, easier, efficiently, elevated, embrace, emerge, emergency, enacted, engineered, ensuring, essential, establishing, exceeded, exclusive, function, generate, geography, globally, half, highest, historically, hourly, human, impacting, impaired, inappropriate, incentivize, indemnity, Insourcing, interested, July, landlord, largely, leader, lease, led, lifted, liquid, lowered, matched, North, obligor, Ohio, onboarding, originating, outbreak, outsource, percent, performed, perspective, posting, presentation, preserving, previously, pricing, principally, readily, reclassified, reconcile, recover, refer, reimbursed, reimbursement, relief, remained, repurchasing, restrict, returned, robust, scope, seasonal, September, settled, settlement, sharp, skill, slate, slowdown, SMX, solution, specifically, stronger, subset, suppressed, test, type, unit, vary, visibility, warehouse, web, Wyoming
Financial reports
Current reports
8-K
Departure of Directors or Certain Officers
15 Jun 22
8-K
Submission of Matters to a Vote of Security Holders
13 May 22
8-K
Trueblue Reports First Quarter 2022 Results
25 Apr 22
8-K
Trueblue Reports Fourth Quarter and Full-year 2021 Results
2 Feb 22
8-K
TrueBlue Appoints Sonita Lontoh to Board of Directors
25 Oct 21
8-K
Trueblue Reports Third Quarter 2021 Results
25 Oct 21
8-K
Departure of Directors or Certain Officers
21 Sep 21
8-K
Trueblue Reports Second Quarter 2021 Results
26 Jul 21
8-K
Departure of Directors or Certain Officers
17 May 21
8-K
Trueblue Reports First Quarter 2021 Results
26 Apr 21
Registration and prospectus
S-3ASR
Automatic shelf registration
26 Jul 21
S-8
Registration of securities for employees
7 May 20
S-3ASR
Automatic shelf registration
29 Jul 18
S-8
Registration of securities for employees
31 May 16
S-8 POS
Registration of securities for employees (post-effective amendment)
31 May 16
S-8
Registration of securities for employees
28 Jul 13
S-3
Shelf registration
24 Jul 12
S-8
Registration of securities for employees
24 Jun 10
S-8
Registration of securities for employees
31 Jan 10
Other
EFFECT
Notice of effectiveness
13 Aug 15
CORRESP
Correspondence with SEC
10 Aug 15
UPLOAD
Letter from SEC
9 Aug 15
UPLOAD
Letter from SEC
31 Jul 14
CORRESP
Correspondence with SEC
24 Jul 14
UPLOAD
Letter from SEC
16 Jul 14
EFFECT
Notice of effectiveness
5 Aug 12
UPLOAD
Letter from SEC
15 Nov 10
CORRESP
Correspondence with SEC
1 Nov 10
UPLOAD
Letter from SEC
18 Oct 10
Ownership
4
TrueBlue / Garrett Ferencz ownership change
3 May 22
4
TrueBlue / Derrek Lane Gafford ownership change
9 Mar 22
4
TrueBlue / Derrek Lane Gafford ownership change
15 Feb 22
4
TrueBlue / Carl Schweihs ownership change
15 Feb 22
4
TrueBlue / Taryn R Owen ownership change
15 Feb 22
4
TrueBlue / Garrett Ferencz ownership change
15 Feb 22
4
TrueBlue / Richard Christensen ownership change
15 Feb 22
4
TrueBlue / A. Patrick Beharelle ownership change
15 Feb 22
4
TrueBlue / Carl Schweihs ownership change
11 Feb 22
4
TrueBlue / Richard Christensen ownership change
11 Feb 22
Patents
Utility
Recommendation Platform for Skill Development
4 Nov 21
Disclosed is a platform that manages worker users in a temporary staffing environment via an artificial machine learning model.
Utility
Recommendation Platform for Skill Development
4 Nov 21
Disclosed is a platform that manages worker users in a temporary staffing environment via an artificial machine learning model.
Utility
Dynamic Geofencing for Temporary Work Time Validation
28 Oct 21
Disclosed is a platform that provides temporary staff along with administrative infrastructure to employers who have temporary staffing needs.
Transcripts
2022 Q1
Earnings call transcript
25 Apr 22
2021 Q4
Earnings call transcript
3 Feb 22
2021 Q3
Earnings call transcript
26 Oct 21
2021 Q2
Earnings call transcript
27 Jul 21
2021 Q1
Earnings call transcript
27 Apr 21
2020 Q4
Earnings call transcript
4 Feb 21
2020 Q3
Earnings call transcript
26 Oct 20
2020 Q2
Earnings call transcript
27 Jul 20
2020 Q1
Earnings call transcript
4 May 20
2019 Q4
Earnings call transcript
5 Feb 20
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