Company profile

Ticker
TBI
Exchange
CEO
A. Patrick Beharelle
Employees
Incorporated in
Location
Fiscal year end
Former names
Labor Ready Inc
SEC CIK
IRS number
911287341

TBI stock data

(
)

Calendar

4 May 20
8 Jul 20
27 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 494.25M 591.04M 636.79M 588.59M
Net income -150.49M 8.72M 26.68M 19.41M
Diluted EPS -4.04 0.23 0.68 0.49
Net profit margin -30.45% 1.47% 4.19% 3.30%
Operating income -175.51M 7.34M 29.19M 20.89M
Net change in cash 227.65M 14.05M 433K -3.2M
Cash on hand 265.26M 37.61M 23.56M 23.12M
Cost of revenue 368.09M 440.7M 467.67M 430.28M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 15
Revenue 2.37B 2.5B 2.51B 354M
Net income 63.07M 65.75M 55.46M 71.25M
Diluted EPS 1.61 1.63 1.34 1.71
Net profit margin 2.66% 2.63% 2.21% 20.13%
Operating income 66.18M 73.92M 77.56M 97.84M
Net change in cash -9.38M 18.21M -1M 10.12M
Cash on hand 37.61M 46.99M 28.78M 29.78M
Cost of revenue 1.74B 1.83B 1.87B 2.06B

Financial data from TrueBlue earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
1 Jul 20 Schweihs Carl Common Stock Payment of exercise Dispose F No 14.6 444 6.48K 28,354
11 Feb 20 Norman H Frey Common Stock Payment of exercise Dispose F No 16.69 281 4.69K 42,413
11 Feb 20 Schweihs Carl Common Stock Payment of exercise Dispose F No 16.69 339 5.66K 28,371
11 Feb 20 Taryn R Owen Common Stock Payment of exercise Dispose F No 16.69 1,250 20.86K 59,451
96.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 152 169 -10.1%
Opened positions 19 22 -13.6%
Closed positions 36 20 +80.0%
Increased positions 62 56 +10.7%
Reduced positions 47 66 -28.8%
13F shares
Current Prev Q Change
Total value 446.11M 878.82M -49.2%
Total shares 34.95M 36.53M -4.3%
Total puts 4.2K 0 NEW
Total calls 23K 16K +43.8%
Total put/call ratio 0.2
Largest owners
Shares Value Change
BLK BlackRock 5.93M $75.62M -3.1%
Vanguard 4.51M $57.57M -3.3%
Dimensional Fund Advisors 3.06M $38.99M +0.3%
ArrowMark Colorado 2.3M $29.38M +30.2%
JPM JPMorgan Chase & Co. 1.42M $18.06M +24.5%
STT State Street 1.32M $16.83M +6.8%
JHG Janus Henderson 1.17M $14.97M -2.1%
GMT Capital 991.56K $12.65M -44.7%
Acadian Asset Management 882.13K $11.25M +31.1%
IVZ Invesco 700.16K $8.93M +122.2%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -891.11K EXIT
GMT Capital 991.56K -800.78K -44.7%
ArrowMark Colorado 2.3M +533.71K +30.2%
IVZ Invesco 700.16K +385.05K +122.2%
JPM JPMorgan Chase & Co. 1.42M +278.3K +24.5%
Arrowstreet Capital, Limited Partnership 461.28K +266.61K +137.0%
Royce & Associates 49.22K -230.47K -82.4%
Acadian Asset Management 882.13K +209.18K +31.1%
FRLG Goldman Sachs 397.96K -195.27K -32.9%
BLK BlackRock 5.93M -188.4K -3.1%

Financial report summary

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Risks
  • COVID-19, the governmental reaction to COVID-19, and the resulting adverse economic conditions have negatively impacted our business and will have an even greater material adverse impact on our business, financial condition, liquidity, and results of operations.
  • Demand for our workforce solutions is significantly affected by fluctuations in general economic conditions.
  • We may not achieve the intended effects of our business strategy which could negatively impact our results.
  • Our workforce solutions are subject to extensive government regulation and the imposition of additional regulations, which could materially harm our future earnings.
  • We may experience employment related claims, commercial indemnification claims and other legal proceedings that could materially harm our business.
  • We are dependent on obtaining workers’ compensation and other insurance coverage at commercially reasonable terms. Unexpected changes in claim trends on our workers’ compensation may negatively impact our financial condition.
  • We operate in a highly competitive industry and may be unable to retain clients or market share.
  • Advances in technology may disrupt the labor and recruiting markets and we must constantly improve our technology to meet the expectations of clients, candidates and employees.
  • 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 could have an adverse outcome on our business and results of operations.
  • We are at risk of damage to our brands and reputation, which is important to our success.
  • The expansion of social media platforms creates new risks and challenges that could cause damage to our brand and reputation.
  • 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.
  • The loss of, continued reduction or substantial decline in revenue from larger clients could have a material adverse effect on our revenues, profitability and liquidity.
  • Failure of our information technology systems could adversely affect our operating results.
  • Cybersecurity vulnerabilities and incidents could lead to the improper disclosure of information about our clients, candidates 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 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.
  • We may be unable to attract sufficient qualified contingent workers and candidates to meet the needs of our clients.
  • Our facilities, operations and information technology systems are vulnerable to damage and interruption.
  • Acquisitions may have an adverse effect on our business.
  • New business initiatives may have an adverse effect on our business.
  • Our results of operations could materially deteriorate if we fail to attract, develop and retain qualified employees.
  • We may have additional tax liabilities that exceed our estimates.
  • The price of our common stock may fluctuate significantly, which may result in losses for investors.
  • 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.
  • Failure to maintain adequate financial and management processes and controls could lead to errors in our financial reporting.
  • Outsourcing certain aspects of our business could result in disruption and increased costs.
  • We face risks in operating internationally.
Management Discussion
  • Total company revenue declined 11% to $494 million for the thirteen weeks ended March 29, 2020, compared to the same period in the prior year. Revenue declined 7% for the first two months of 2020 compared to the same period in the prior year due primarily to less demand for our services as clients moderated contingent labor spend in response to lower volumes in light of continued economic uncertainty. Declines were broad-based across multiple geographies and industries. Revenue declined 16% in March compared to the same period in the prior year due to a significant drop in demand associated with government and societal actions to address the COVID-19 threat. In particular, the outbreak and preventive measures taken to help curb the spread had severe adverse impacts on our operations and business results in March. Many of the clients we serve have been severely impacted by COVID-19 and have stopped or significantly reduced their need for our staffing services, which has resulted in lower than expected revenue. Year-over-year weekly revenue trends rapidly decelerated in March culminating in a 32% decline in our PeopleReady business and a 30% decline in our PeopleManagement business during the last week of the quarter. PeopleScout bills monthly and accordingly, weekly trends are not available. Revenues have also been impacted by higher levels of unemployment making it easier for businesses to find labor on their own. We expect these two factors to have a significant adverse impact on our future revenue as well as our overall profitability and liquidity for as long as the negative economic impacts of COVID-19 are being
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Good
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