Welcome to our dedicated page for Barrett Business Services news (Ticker: BBSI), a resource for investors and traders seeking the latest updates and insights on Barrett Business Services stock.
Barrett Business Services reports developments in its professional employer organization and staffing businesses, which combine human resource outsourcing with management consulting for small and mid-sized companies. Recurring updates cover PEO gross billings, worksite employee trends, revenue performance, workers’ compensation expense, client additions, benefits retention, quarterly dividends and share repurchase activity.
The company also announces product and operating initiatives tied to its technology platform, including HRIS modules within the myBBSI Client Portal for employee document management and performance management. Other recurring news themes include branch expansion, regional leadership, payroll administration, employee benefits, risk management, workplace safety programs and local market development.
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.
Barrett Business Services, Inc. (BBSI) will hold a conference call on August 3, 2022, at 5:00 p.m. ET to discuss its Q2 financial results for the period ending June 30, 2022. CEO Gary Kramer and CFO Anthony Harris will lead the call, followed by a Q&A session. Participants can join via toll-free or international numbers provided in the release. The call will be accessible for replay until September 3, 2022. BBSI offers integrated business management solutions, including HR outsourcing and management consulting, aimed at enhancing operational efficiency.
Barrett Business Services (BBSI) reported strong Q1 2022 results, with net revenues increasing by 13% to $246.4 million and gross billings rising 16% to $1.71 billion. The company achieved a net income of $0.3 million or $0.04 per diluted share, a notable turnaround from a net loss of $4.6 million in Q1 2021. Average worksite employees rose by 9%. BBSI also raised its full-year outlook, expecting 10%-12% growth in gross billings and a 4%-6% increase in average WSEs.
Barrett Business Services, Inc. (BBSI) will host a conference call on May 4, 2022, at 5:00 p.m. Eastern to discuss its Q1 2022 financial results. CEO Gary Kramer and CFO Anthony Harris will lead the session, followed by a Q&A period. Interested parties can join the call using toll-free and international numbers provided in the release. The call will be available for replay through June 4, 2022. BBSI is a prominent provider of business management solutions, serving over 7,600 clients in 47 states.