Welcome to our dedicated page for Barrett Business Svcs news (Ticker: BBSI), a resource for investors and traders seeking the latest updates and insights on Barrett Business Svcs stock.
Barrett Business Services, Inc. (BBSI) (NASDAQ: BBSI) is a human resources consulting and business services company that operates as one of the largest professional employer organizations (PEOs) in the United States. News about BBSI often centers on its business management solutions, which combine human resource outsourcing, payroll processing, employee benefits, workers’ compensation coverage, risk management, workplace safety programs, and staffing services for clients across all 50 states.
Investors and business owners following BBSI news can expect regular updates on financial performance, including quarterly earnings releases that discuss revenues, gross billings, worksite employee metrics, workers’ compensation expense, and capital allocation decisions such as dividends and stock repurchase programs. The company frequently announces conference calls to review its results and provide management commentary on key performance metrics.
BBSI also issues news related to branch expansion and market development. Recent announcements have highlighted the opening of physical branch locations in markets such as Dallas, Chicago, and Nashville, as well as leadership appointments like a regional vice president for Northern California. These stories emphasize the company’s strategy of combining a national network with locally supported solutions delivered by on-the-ground teams.
Another recurring theme in BBSI’s news flow is technology and HRIS innovation. The launch of the Employee File Cabinet HRIS module within the BBSI Client Portal, developed in collaboration with Box, showcases the company’s efforts to centralize and secure employee document management and to unify HR-related information across systems.
Culture and recognition also appear in BBSI’s news, including its repeated Great Place To Work® Certification based on employee feedback. For investors, clients, and prospective partners, the BBSI news feed provides insight into financial trends, geographic expansion, technology initiatives, and the company’s people-focused culture.
Barrett Business Services, Inc. (BBSI) will host a conference call on May 3, 2023, at 5:00 p.m. Eastern time to discuss its first-quarter financial results for the period ending March 31, 2023. A press release detailing these results will be issued prior to the call. CEO Gary Kramer and CFO Anthony Harris will lead the discussion, followed by a Q&A session. Interested parties can join by calling 1-877-407-4018 for toll-free access or 1-201-689-8471 for international calls, using Conference ID: 13737460. The call will also be available for replay post-event until June 3, 2023. More information is accessible on BBSI's investor relations website.
Barrett Business Services (BBSI) reported strong financial results for Q4 2022 and the full year, highlighting a net income of $11.5 million in Q4, or $1.64 per diluted share, up from $10.6 million in Q4 2021. Full Year 2022 net income reached $47.3 million, equating to $6.54 per diluted share, a growth from $38.1 million in 2021. Revenue increased by 10% to $1.05 billion, with gross billings up 13% to $7.39 billion. BBSI also announced a quarterly dividend of $0.30 per share and plans growth through a nationwide health benefits rollout in 2023.
Barrett Business Services, Inc. (BBSI) will hold a conference call on March 1, 2023, at 5:00 p.m. Eastern time to discuss its financial results for Q4 and the full year ended December 31, 2022. CEO Gary Kramer and CFO Anthony Harris will lead the call, followed by a Q&A session. Interested parties can join via a toll-free number or listen live online with a replay available until April 1, 2023. BBSI specializes in business management solutions, integrating HR outsourcing and management consulting to enhance operational efficiency. Further information can be found on their website.
Barrett Business Services, Inc. (BBSI) has been Certified™ by Great Place to Work®, reflecting high employee satisfaction. This recognition is based on employee feedback about workplace culture and experiences. According to Great Place to Work® research, job seekers at certified workplaces are 4.5 times more likely to find a good boss, and employees are significantly more likely to look forward to work and feel fairly compensated. BBSI, a leader in business management solutions, serves over 7,500 clients across 43 states, emphasizing its commitment to employee experience and business efficiency.
Barrett Business Services, Inc. (BBSI) has launched BBSI U, an innovative online learning management system aimed at enhancing client and employee training. This platform expands BBSI’s services, providing curated training focused on compliance, payroll, risk management, and HR functions. Developed in response to client feedback, BBSI U features interactive courses in both English and Spanish, and integrates with BBSI’s payroll platform, myBBSI, ensuring seamless access for users. The initiative aims to support business growth and compliance while fostering employee skill development.
Barrett Business Services (BBSI) reported Q3 2022 net income of $17.4 million or $2.45 per diluted share, a rise from $14.9 million or $1.96 per share year-over-year. Revenues surged 11% to $273.8 million and gross billings increased 13% to $1.91 billion. The growth was bolstered by an 8% rise in average worksite employees. BBSI raised its full-year outlook, with gross billings growth now forecasted at 12% to 13% and WSE growth anticipated at 8% to 9%.
Barrett Business Services (BBSI) will host a conference call on November 2, 2022, at 5:00 p.m. ET to discuss its Q3 financial results for the period ending September 30, 2022. CEO Gary Kramer and CFO Anthony Harris will lead the call, which will include a Q&A session. Participants can join the call using the provided toll-free number or by accessing the live broadcast via the BBSI website. A replay will be available post-call until December 2, 2022. BBSI specializes in business management solutions focusing on HR outsourcing and operational efficiency.
The board of Barrett Business Services, Inc. (BBSI) has appointed Joseph S. Clabby as a director, effective September 16, expanding the board to nine members. Clabby, who recently retired from Chubb Limited, brings over 20 years of senior executive experience in the insurance industry, including board roles. His expertise in insurance and PEOs is expected to enhance BBSI's strategic growth and shareholder value. Clabby expressed enthusiasm about joining the growing organization, which aims to support small and medium-sized businesses.
Barrett Business Services, Inc. (BBSI) reported a strong Q2 2022 with net income of $18.0 million ($2.48 per diluted share), up from $17.1 million ($2.24 per diluted share) the previous year. Net revenues rose 12% to $262.2 million, and gross billings increased 14% to $1.83 billion, driven by a 9% rise in average worksite employees (WSEs). The company raised its full-year outlook, projecting gross billings growth of 11% to 13%. The board confirmed a quarterly cash dividend of $0.30 per share and authorized a new stock repurchase program for $75 million.
BBSI (NASDAQ: BBSI) recently announced a strategic partnership with a leading health insurance company, enhancing its employee benefits offerings. Effective January 2023, worksite employees will have access to premium health care benefits, including provider networks and clinical care programs, initially in select markets with nationwide expansion planned. CEO Gary Kramer emphasized that this partnership will strengthen BBSI’s value proposition for small-to-medium-sized clients, aiding in employee attraction and retention.
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