Latest news with #PeopleManagement
Yahoo
06-05-2025
- Business
- Yahoo
TrueBlue Inc (TBI) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Revenue: $370 million, a decline of 8% year-over-year. Gross Margin: 23.3%, down 140 basis points. Net Loss: $14 million for the quarter. Adjusted Net Loss: $12 million. Adjusted EBITDA: Minus $4 million. SG&A Reduction: Reduced by 12%. PeopleSolutions Revenue: Declined 2%, with 24-percentage-points of inorganic growth from HSP. PeopleReady Revenue: Declined 15%. PeopleManagement Revenue: Increased by 1%. Cash and Debt: $23 million in cash and $58 million in debt. Total Liquidity: $94 million. Warning! GuruFocus has detected 2 Warning Signs with TBI. Release Date: May 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. TrueBlue Inc (NYSE:TBI) achieved revenue of $370 million for the quarter, reaching the high end of their outlook range. The company secured a new engagement with a global logistics company, replacing over 35 vendors and enhancing efficiencies. TrueBlue Inc (NYSE:TBI) is expanding its presence in high-growth and underpenetrated markets, particularly in healthcare, with the acquisition of Healthcare Staffing Professionals. The PeopleScout business has shown momentum with new business wins in professional roles across various industries. The Centerline commercial drivers business delivered its third consecutive quarter of double-digit revenue growth. Total revenue for the quarter declined by 8% year-over-year, reflecting subdued market demand. Gross margin decreased by 140 basis points due to changes in revenue mix and pricing pressures. The company reported a net loss of $14 million for the quarter, with no significant income tax benefit on US operations. PeopleReady revenue declined by 15%, with significant reductions in client volumes across most verticals. Economic uncertainty and evolving governmental policies continue to suppress the staffing industry, impacting business confidence. Q: How did each month of the quarter perform, and were there any noticeable trends? A: Taryn Owen, President and CEO, noted that PeopleManagement returned to growth in Q1 with annualized wins over $35 million. Positive trends were observed in PeopleReady, with efforts to drive growth by taking market share. Carl Schweihs, CFO, added that more geographies showed growth, with one-third of states returning to growth in March. PeopleReady exited March at minus 8%, and PeopleManagement at plus 4%, with similar trends continuing into April. Q: How is the new strategy of adding field sales reps for PeopleReady performing? A: Taryn Owen stated that the first wave of new PeopleReady field sales reps joined in Q1, with plans to expand the sales team by 50% by the end of Q2. Carl Schweihs added that sales-enabled territories outperformed the rest of the business by several points in Q1, with this trend continuing into April. Q: How did Healthcare Staffing Professionals (HSP) perform in Q1, and what are the expectations? A: Carl Schweihs reported that HSP's financial results were in line with expectations for Q1 and the guidance for Q2. The margin profile was in the mid-single digits, as expected. Q: What are the impacts of tariffs and reshoring on TrueBlue's business? A: Taryn Owen mentioned that tariffs could lead to more onshore manufacturing, which would be beneficial for TrueBlue. Customers are increasingly ensuring their workforce is authorized to work in the U.S., with positive trends in Southern border states like Texas, Arizona, and Nevada. Q: How is the JobStack platform performing, and what benefits does it provide? A: Taryn Owen highlighted that JobStack's proprietary technology allows TrueBlue to control its roadmap and meet customer needs. The app's convenience and ease of use are appreciated by users, with enhancements like ReadyMatch technology and digital onboarding working as expected. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Forbes
28-03-2025
- Business
- Forbes
Visa System Hampering Businesses Seeking Workers, Says U.K. Lawyer
The financial district of London. (Getty Creative) According to a partner at one of the U.K.'s leading law firms, the country's immigration system is 'holding businesses back' in their attempts to recruit the foreign workers they need. The commentary highlights current tensions in the U.K., between the need for more foreign talent to fill critical skills shortages on the one hand, and the political pressure on the government to limit immigration numbers on the other. Writing for 'People Management,' the HR news site run by the Chartered Institute of Personnel and Development, David Winnie, a partner at law firm Gilson Gray, outlines the ways the U.K.'s current system for skilled labor immigration is getting in the way of businesses trying to recruit. These issues broadly emanate from the way the Skilled Worker Visa (SWV) system works. The SWV was established to manage skilled labor immigration in the wake of the U.K.'s exit from the European Union, after which the country stopped benefitting from the free movement of workers from around Europe. The system sets minimum salary thresholds for potential foreign workers in various sectors, with particular exceptions and carve-outs for jobs in sectors deemed critical. The system in theory ensures minimum standards while also allowing businesses to recruit the workers they need, thereby supporting Britain's economic growth. In practice, however, businesses and immigration advisers have found the system often difficult to navigate, preventing businesses from recruiting. 'While (the scheme) sounds reasonable and it was set up with the right intentions,' writes Winnie, 'the system is highly complex and convoluted.' Where the scheme gets difficult, says Winnie, is the finer details of calculating whether a worker's salary meets those minimum standards, taking into account hours worked, the particular sector and other benefits included in the employment package. Compounding matters, he says, is a series of recently-introduced regulations from the Home Office (the U.K. ministry responsible for immigration), which have proven difficult to keep up with. Getting all the details right is very important, as failure to properly follow the rules - even inadvertently - could mean employers are fined or even stripped of their ability to hire more foreign workers. Winnie's post highlights a point of tension in the U.K., where immigration is a very sensitive political issue. There is enormous pressure on the government to reduce the overall amount of immigrants coming to the country. The government then has a fine line to tread between making sure the country's businesses and economy overall are getting the workers they need, while at the same time trying to head off the political damage they may receive by being seen as letting in 'too many' people. As it stands, it is clear the U.K. still does not have nearly enough workers as it needs, with massive shortages long reported across many key sectors. David Winnie's expert commentary outlines how the inefficiencies in the existing system are only exacerbating that problem. 'Whatever your views on the politics of immigration, the fact is that we don't have enough skilled workers in the U.K. to grow our economy,' he concludes. 'Unless the shortcomings of the current system are addressed – and hopefully they will be in future updates – many businesses could be hindered from reaching their full potential.'
