Hirequest Inc Stock Price, News & Analysis

HireQuest (Nasdaq:HQI), a national franchisor of staffing services, reported its Q2 2025 financial results. The company recorded total revenue of $7.6 million, down 12.0% from $8.7 million in Q2 2024. Net income decreased to $1.1 million ($0.08 per diluted share) from $2.0 million ($0.15 per diluted share) year-over-year.

System-wide sales declined 13.9% to $125.9 million. The company maintained its quarterly dividend of $0.06 per share. Despite market softness, HireQuest demonstrated resilience through its franchise model, with $3.3 million in Adjusted EBITDA and available credit line of $35.9 million for potential acquisitions.

HireQuest (Nasdaq:HQI), a national franchisor of direct dispatch, executive search, and commercial staffing services, has scheduled its second quarter 2025 financial results conference call for Thursday, August 7, 2025, at 4:30 p.m. Eastern Time.

The call will discuss financial results for Q2 ended June 30, 2025. Investors can access the call through toll-free (877-545-0320) or international (973-528-0002) numbers using entry code 335250. A live webcast and replay will be available through the company's website and at a dedicated webcast link. The replay will remain accessible through August 21, 2025.

HireQuest (HQI) has responded to TrueBlue's (TBI) rejection of its $7.50 per share acquisition offer. CEO Rick Hermanns expressed disappointment in TrueBlue's Board's refusal to engage in discussions. The offer represents a premium over TrueBlue's current share price, and HireQuest remains open to increasing it and potentially adding a cash component. HireQuest highlighted TrueBlue's declining performance, noting a drop from $2.8 billion in revenue and $134 million in EBITDA in 2016 to $1.6 billion in revenue and negative EBITDA currently. According to Staffing Industry Analysts, TrueBlue has underperformed the industry in seven out of the last eight years. HireQuest believes its franchise model and flexible operating platform would benefit TrueBlue's business, particularly its PeopleReady division, and plans to convert PeopleReady offices into entrepreneur-driven independently owned businesses.

HireQuest (NASDAQ:HQI), a national franchisor of direct dispatch, executive search, and commercial staffing services, has announced a quarterly dividend of $0.06 per share. The dividend will be paid on June 16, 2025, to shareholders who are on record as of June 2, 2025.

TrueBlue (NYSE: TBI) has adopted a limited duration shareholder rights agreement in response to HireQuest's (Nasdaq: HQI) unsolicited proposal to acquire TrueBlue at $7.50 per share. The Rights Agreement, effective until May 13, 2026, implements a "poison pill" strategy that allows shareholders to purchase additional shares at a 50% discount if any entity acquires 15% (or 20% for certain Schedule 13G investors) or more of TrueBlue's common stock without Board approval.

The agreement aims to protect shareholder interests by ensuring potential acquirers pay an appropriate control premium and giving the Board sufficient time to evaluate acquisition proposals. The Board retains the right to redeem rights at $0.01 per right or exchange them for common stock. Existing shareholders above the threshold will be grandfathered, subject to certain conditions.

HireQuest (NASDAQ:HQI) has proposed to acquire TrueBlue (NYSE:TBI) for $7.50 per share in an all-stock transaction, representing a 61% premium over TrueBlue's closing price of $4.65. The proposal, which would mark HireQuest's 16th acquisition in the staffing industry, comes after nearly two years of unsuccessful attempts to engage with TrueBlue's management. HireQuest aims to integrate TrueBlue's operations into its high-margin franchising model, which has demonstrated profitability across economic cycles. The company is willing to add a cash component and potentially increase the offer price if TrueBlue agrees to negotiate. Alternatively, HireQuest has proposed purchasing just the PeopleReady subsidiary for up to $150 million in cash.

HireQuest (NASDAQ: HQI) reported its Q1 2025 financial results, showing declines across key metrics. Total revenue decreased 11.2% to $7.5 million compared to $8.4 million in Q1 2024. Franchise royalties fell 11.2% to $7.0 million, while system-wide sales dropped 11.7% to $118.4 million. Net income declined to $1.4 million ($0.10 per diluted share) from $1.6 million ($0.12 per diluted share) year-over-year. Adjusted EBITDA was $2.8 million, down from $3.4 million. The company maintained its quarterly dividend of $0.06 per share. CEO Rick Hermanns attributed the performance to macroeconomic headwinds affecting the staffing industry but highlighted the company's solid margins and profitability. HireQuest also announced CFO succession, with David Hartley replacing retiring Steve Crane.

HireQuest (Nasdaq: HQI), a national franchisor of direct dispatch, executive search, and commercial staffing services, has scheduled its first quarter 2025 financial results conference call for Thursday, May 8, 2025, at 4:30 p.m. Eastern Time. The call will discuss financial results for Q1 ending March 31, 2025.

Investors can access the call through toll-free (877-545-0320) or international (973-528-0002) numbers using entry code 336114. The conference will be broadcast live at webcaster4.com and through HireQuest's investor relations website. A replay will be available until May 22, 2025, via toll-free (877-481-4010) or international (919-882-2331) numbers with passcode 52383.

HireQuest (NASDAQ:HQI) announced that CFO Steve Crane will retire effective May 31, 2025, with David Hartley, current VP of Operational Finance and Corporate Development, appointed as his successor. Hartley, who joined HireQuest in 2020, has been instrumental in executing over fifteen acquisitions and leading the company's growth strategy.

The transition has been planned for multiple years, with Crane supporting the handover process in the coming weeks. The company emphasized continuity with support from Chief Accounting Officer Cory Smith, who has been with HireQuest since 2016.

CEO Rick Hermanns praised Crane's contributions to developing the accounting and finance department, while expressing confidence in Hartley's capabilities, citing his business acumen, strategic understanding, and experience in driving shareholder value through acquisitions.