HireQuest Reports Financial Results for Third Quarter 2026
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
HireQuest (HQI) reported third-quarter 2026 revenue growth of 4.0%, while net income declined from the same period a year earlier. Revenue reached $8.8 million, and net income was $1.7 million, or $0.12 per diluted share, versus $2.3 million, or $0.16. Selling, general and administrative expenses rose 20.7%, including $1.3 million in notes receivable writedowns, primarily tied to repossession of a franchised location. Adjusted EBITDA, an adjusted earnings measure, remained $4.5 million.
Excluding the MRINetwork assets divested on January 1, 2026, quarterly revenue increased 11.1% on a pro forma basis. Nine-month revenue declined 0.5% to $23.4 million, while net income increased to $5.9 million from $4.7 million. September 30 cash was $1.1 million versus $3.9 million at year-end; working capital rose to $38.0 million from $33.0 million. Credit availability was approximately $40.5 million, assuming continued covenant compliance.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThird-quarter revenue increased 4.0% to $8.8 million; growth was 11.1% excluding the MRINetwork divestiture.
- Moderate pointNine-month net income increased to $5.9 million, or $0.43 diluted, from $4.7 million, or $0.34.
- Moderate pointNine-month administrative expenses declined 11.1% to $14.4 million from $16.2 million.
- Minor pointThird-quarter franchise royalties increased 1.5% to $8.2 million; pro forma growth excluding the divestiture was 7.9%.
- Minor pointService revenue rose to $604,000 from $387,000 quarterly and $1.6 million from $1.3 million year-to-date.
7 minor points
- Minor pointNine-month adjusted net income rose to $8.1 million, or $0.59 diluted, from $7.2 million, or $0.52.
- Minor pointNine-month adjusted EBITDA increased to $11.8 million from $10.6 million a year earlier.
- Minor pointNine-month operating income increased to $6.733 million from $4.900 million a year earlier.
- Minor pointFinancing expense fell to $35,000 from $62,000 quarterly and $72,000 from $277,000 year-to-date.
- Minor pointWorking capital increased to $38.0 million at September 30, 2026, from $33.0 million at year-end 2025.
- Minor pointCredit availability was approximately $40.5 million at September 30, 2026, assuming continued covenant compliance.
- Minor pointNine-month divestiture gain was $248,000.
Negative
- Moderate pointThird-quarter net income fell to $1.7 million, or $0.12 diluted, from $2.3 million, or $0.16.
- Moderate pointThird-quarter administrative expenses rose 20.7% to $6.1 million, including $1.3 million in notes receivable writedowns.
- Moderate pointQuarterly system-wide sales fell to $131.2 million from $133.6 million; excluding the divestiture, sales increased 11.4%.
- Minor pointThird-quarter workers’ compensation shifted to approximately $434,000 expense from a $99,000 benefit a year earlier.
- Minor pointThird-quarter adjusted net income declined to $3.0 million, or $0.22 diluted, from $3.3 million, or $0.23.
9 minor points
- Minor pointThird-quarter operating income declined to $1.931 million from $2.422 million a year earlier.
- Minor pointNine-month revenue declined 0.5% to $23.4 million; excluding the divestiture, revenue increased 7.8%.
- Minor pointNine-month franchise royalties declined 1.9% to $21.8 million; excluding the divestiture, royalties increased 5.7%.
- Minor pointNine-month system-wide sales fell to $351.6 million from $377.9 million; excluding the divestiture, sales increased 7.1%.
- Minor pointNine-month workers’ compensation expense increased to approximately $513,000 from approximately $56,000.
- Minor pointDepreciation and amortization rose to $763,000 from $752,000 quarterly and $2.303 million from $2.221 million year-to-date.
- Minor pointInterest income declined to $76,000 from $131,000 quarterly and $295,000 from $393,000 year-to-date.
- Minor pointCash declined to $1.1 million at September 30, 2026, from $3.9 million at year-end 2025.
- Minor pointTotal liabilities increased to $25.7 million at September 30, 2026, from $19.9 million at year-end 2025.
News Explained
During the third quarter, HireQuest paid a
Key Figures
- Total revenue
- $8.8 million; up 4.0%
- Third quarter 2026 versus prior-year period
- Pro forma total revenue growth
- 11.1%
- Third quarter 2026, pro forma for the MRINetwork Assets Divestiture
- Pro forma franchise royalty growth
- 7.9%
- Third quarter 2026, pro forma for the MRINetwork Assets Divestiture
- Net income
- $1.7 million; $0.12 per diluted share
- Third quarter 2026 versus $2.3 million and $0.16 per diluted share in the prior-year period
- Adjusted net income
- $3.0 million; $0.22 per diluted share
- Third quarter 2026 versus $3.3 million and $0.23 per diluted share in the prior-year period
- Adjusted EBITDA
- $4.5 million
- Third quarter 2026, consistent with the prior-year period
- SG&A expenses
- $6.1 million; up 20.7%
- Third quarter 2026; included $1.3 million in write down of notes receivable
- Pro forma system-wide sales growth
- 11.4%
- Third quarter 2026, pro forma for the MRINetwork Assets Divestiture
Previous Earnings Reports
-
Second-quarter revenue and net income increased year over year, with adjusted EBITDA also higher.
-
Third-quarter net income returned to positive territory versus a year-earlier loss.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
sg&a financial
pro forma financial
adjusted ebitda financial
u.s. gaap technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Rick Hermanns, HireQuest's President and Chief Executive Officer, commented, "Our third quarter results reflect continued momentum across our core commercial staffing brands, as improving demand delivered another quarter of year-over-year revenue growth. Our franchise model continues to demonstrate its resilience, allowing us to grow alongside our franchisees as they benefit from a strengthened labor market.
"We believe the improving demand environment we have seen throughout 2026 positions our franchisees well as we close out the year and look ahead to 2027. We have a strong balance sheet and ample liquidity, and we remain focused on disciplined capital allocation as we work to deliver consistently profitable results and enhanced value for our shareholders," Mr. Hermanns concluded.
Third Quarter 2026 Review
Franchise royalties in the third quarter of 2026 were
Total revenue in the third quarter of 2026 was
SG&A expenses in the third quarter of 2026 were
Depreciation and amortization in the third quarter of 2026 was approximately
Interest and other financing expense in the third quarter of 2026 was approximately
Net income in the third quarter of 2026 was
Adjusted net income for the third quarter of 2026 was
Adjusted EBITDA for the third quarter of 2026 was
System-wide sales for the third quarter of 2026 were
Year-To-Date 2026 Review
Franchise royalties for the nine months ended September 30, 2026 were
Total revenue was
SG&A expenses in the first nine months of 2026 were
Depreciation and amortization in the first nine months of 2026 was approximately
Interest and other financing expense for the nine months ended September 30, 2026 was approximately
Net income in the 2026 year-to-date period was
Adjusted net income for the nine-month period was
Adjusted EBITDA for the nine months ended September 30, 2026 was
System-wide sales for the first nine months of 2026 were
Balance Sheet and Capital Structure
Cash was
Working capital as of September 30, 2026, was
As of September 30, 2026, assuming continued covenant compliance, availability under the line of credit was approximately
During the third quarter of 2026, the Company paid a quarterly cash dividend of
Conference Call
HireQuest will hold a conference call to discuss its financial results.
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Date: |
Thursday, November 12, 2026 |
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Time: |
4:30 p.m. Eastern Time |
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Toll-free dial-in number: |
888-506-0062 |
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International dial-in number: |
973-528-0011 |
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Entry code: |
327810 |
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization.
The conference call will be broadcast live and available for replay at https://www.webcaster5.com/Webcast/Page/2359/54668 and via the investor relations section of HireQuest's website at https://hirequest.com/.
A replay of the conference call will be available through Thursday, November 26, 2026.
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Toll-free replay number: |
877-481-4010 |
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International replay number: |
919-882-2331 |
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Replay passcode: |
54668 |
About HireQuest
HireQuest is a franchisor of staffing solutions with a footprint across the U.S. and international markets. Through its primary divisions - HireQuest Direct, HireQuest Health, Snelling, TradeCorp and DriverQuest - the company delivers temporary, direct-hire, and contract workforce solutions across a wide range of industries, including construction, light industrial, healthcare, finance, manufacturing, hospitality, logistics and more. From on-demand staffing to direct hire recruiting, HireQuest's divisions work together to provide workforce solutions that help businesses grow and create meaningful opportunities for the communities we serve. For more information, visit www.hirequest.com
Important Cautions Regarding Forward-Looking Statements
This news release includes and our directors and officers may make certain estimates and other forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act, including, among others, statements with respect to future revenue, franchise sales, system-wide sales, net income and Adjusted EBITDA (a non-GAAP Financial Measure); operating results; dividends and shareholder returns; anticipated benefits and synergies of any proposed transaction and future opportunities, including statements regarding value, profitability or growth prospects, cost synergies of any merger or acquisitions including those we have completed in 2023 and 2024; intended office openings or closings; expectations of the effect on our financial condition of claims and litigation; strategies for customer retention and growth; strategies for risk management; and all other statements that are not purely historical and that may constitute statements of future expectations. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will," and similar references to future periods.
While we believe these statements are accurate, forward-looking statements are not historical facts and are inherently uncertain. They are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. We cannot assure you that these expectations will materialize, and our actual results may be significantly different. Therefore, you should not place undue reliance on these forward-looking statements. Important factors that may cause actual results to differ materially from those contemplated in any forward-looking statements made by us include the following: the level of demand in and financial performance of the temporary staffing and permanent placement industry; the financial performance of our franchisees; our franchisees' and our customers' ability to navigate successfully the challenges posed by instability in the financial and capital markets and the overall economic environment including the impact of increases in the price of oil and gas and any potential recession; changes in customer demand; the extent to which we are successful in gaining new long-term relationships with customers or retaining existing ones, and the level of service failures that could lead customers to use competitors' services; workers' compensation expenses that fluctuate from period to period based on the mix of classifications, the level of payroll, recent claims resolution, and cumulative experience; significant investigative or legal proceedings including, without limitation, those brought about by the existing regulatory environment or changes in the regulations governing the temporary staffing and permanent placement industry and those arising from the action or inaction of our franchisees and temporary employees; strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses including, without limitation, successful integration following the acquisitions of Ready Temporary Staffing, TEC Staffing Services, MRI Network, Snelling Staffing, LINK, Recruit Media, Dental Power, Temporary Alternatives, Inc., and subsequent or smaller acquisitions; the possibility that any strategic target will not agree to consummate a transaction or that any such transaction is consummated on different terms than currently anticipated; the possibility that conditions to the completion of a proposed transaction, including the receipt of any required shareholder approvals and any required regulatory approvals, will not be met; the possibility that we may be unable to achieve expected synergies and operating efficiencies within an expected time frame or at all and to successfully integrate any acquired operations with ours; the possibility that such integration may be more difficult, time-consuming, or costly than expected, or that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, or suppliers) may be greater than expected following a proposed transaction or the public announcement of a proposed transaction; disruptions to our technology network including computer systems and software whether resulting from a cyber-attack or otherwise; natural events such as pandemics, severe weather, fires, floods, and earthquakes, or man-made or other disruptions of our operating systems or the economy including by war or political turmoil; and the factors discussed in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K filed with the SEC.
Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. The Company disclaims any obligation to update or revise any forward-looking statement, whether written or oral, that may be made from time to time, based on the occurrence of future events, the receipt of new information, or otherwise, except as required by law.
Non-U.S. GAAP Financial Measures
This document contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Management uses these non-U.S. GAAP measures in its analysis of the Company's performance. These measures should not be considered a substitute for U.S. GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with U.S. GAAP. Management believes the presentation of non-U.S. GAAP financial measures that exclude the impact of specified items provide useful supplemental information that is essential to a proper understanding of the Company's financial condition and results. Non-U.S. GAAP measures are not formally defined under U.S. GAAP, and other entities may use calculation methods that differ from those used by us. As a complement to U.S. GAAP financial measures, our management believes these non-U.S. GAAP financial measures assist investors in comparing the financial condition and results of operations of financial institutions due to the industry prevalence of such non-U.S. GAAP measures. See the tables below for a reconciliation of these non-U.S. GAAP measures to the most directly comparable U.S. GAAP financial measures.
Company Contact:
HireQuest
David Hartley, Chief Financial Officer
(800) 835-6755
Email: cdhartley@hirequest.com
Investor Relations Contact:
IMS Investor Relations
John Nesbett/Jennifer Belodeau
(203) 972-9200
Email: hirequest@imsinvestorrelations.com
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HireQuest |
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(in thousands, except share and par value data) |
September 30, |
|
December 31, |
|
ASSETS |
|
|
|
|
Current assets |
|
|
|
|
Cash |
$ 1,056 |
|
$ 3,895 |
|
Accounts receivable, net of allowance of |
54,916 |
|
39,281 |
|
Notes receivable |
828 |
|
1,073 |
|
Prepaid expenses, deposits, and other assets |
2,057 |
|
3,249 |
|
Prepaid workers' compensation |
490 |
|
848 |
|
Total current assets |
59,347 |
|
48,346 |
|
Property and equipment, net |
3,967 |
|
4,050 |
|
Workers' compensation claims payment deposit |
1,272 |
|
1,128 |
|
Franchise agreements, net |
15,884 |
|
17,242 |
|
Other intangible assets, net |
6,168 |
|
6,980 |
|
Goodwill |
1,633 |
|
1,633 |
|
Investment in unconsolidated affiliate |
710 |
|
- |
|
Deferred tax asset |
1,802 |
|
1,868 |
|
Other assets |
440 |
|
279 |
|
Notes receivable, net of current portion and allowance of |
3,760 |
|
5,599 |
|
Intangible asset held for sale |
720 |
|
1,102 |
|
Total assets |
$ 95,703 |
|
$ 8,227 |
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
Current liabilities |
|
|
|
|
Accounts payable |
$ 281 |
|
$ 192 |
|
Line of credit |
496 |
|
- |
|
Other current liabilities |
2,036 |
|
2,186 |
|
Accrued payroll, benefits, and payroll taxes |
2,392 |
|
1,800 |
|
Due to franchisees |
11,808 |
|
7,004 |
|
Risk management incentive program liability |
1,407 |
|
1,237 |
|
Workers' compensation claims liability |
2,924 |
|
2,929 |
|
Total current liabilities |
21,344 |
|
15,348 |
|
Workers' compensation claims liability, net of current portion |
2,035 |
|
2,232 |
|
Franchisee deposits |
2,313 |
|
2,326 |
|
Total liabilities |
25,692 |
|
19,906 |
|
Commitments and contingencies (Note 11) |
|
|
|
|
Stockholders' equity |
|
|
|
|
Preferred stock - |
- |
|
- |
|
Common stock - |
14 |
|
14 |
|
Additional paid-in capital |
37,935 |
|
37,222 |
|
Treasury stock, at cost - 0 and 48,849 shares, respectively |
- |
|
(146) |
|
Retained earnings |
32,062 |
|
31,231 |
|
Total stockholders' equity |
70,011 |
|
68,321 |
|
Total liabilities and stockholders' equity |
$ 95,703 |
|
$ 88,227 |
|
HireQuest |
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Three months ended |
|
|
Nine months ended |
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||||||||||
|
(in thousands, except per share data) |
|
September 30, |
|
|
September 30, |
|
|
September 30, |
|
|
September 30, |
|
||||
|
Franchise royalties |
|
$ |
8,207 |
|
|
$ |
8,087 |
|
|
$ |
21,837 |
|
|
$ |
22,270 |
|
|
Service revenue |
|
|
604 |
|
|
|
387 |
|
|
|
1,580 |
|
|
|
1,253 |
|
|
Total revenue |
|
|
8,811 |
|
|
|
8,474 |
|
|
|
23,417 |
|
|
|
23,523 |
|
|
Selling, general and administrative expenses |
|
|
6,117 |
|
|
|
5,070 |
|
|
|
14,381 |
|
|
|
16,172 |
|
|
Goodwill and intangible asset impairment |
|
|
- |
|
|
|
230 |
|
|
|
- |
|
|
|
230 |
|
|
Depreciation and amortization |
|
|
763 |
|
|
|
752 |
|
|
|
2,303 |
|
|
|
2,221 |
|
|
Income from operations |
|
|
1,931 |
|
|
|
2,422 |
|
|
|
6,733 |
|
|
|
4,900 |
|
|
Other miscellaneous income |
|
|
7 |
|
|
|
35 |
|
|
|
28 |
|
|
|
195 |
|
|
Interest income |
|
|
76 |
|
|
|
131 |
|
|
|
295 |
|
|
|
393 |
|
|
Equity in income of unconsolidated affiliates |
|
|
75 |
|
|
|
- |
|
|
|
75 |
|
|
|
- |
|
|
Gain on divestiture |
|
|
- |
|
|
|
- |
|
|
|
248 |
|
|
|
- |
|
|
Interest and other financing expense |
|
|
(35) |
|
|
|
(62) |
|
|
|
(72) |
|
|
|
(277) |
|
|
Net income before income taxes |
|
|
2,054 |
|
|
|
2,526 |
|
|
|
7,307 |
|
|
|
5,211 |
|
|
Provision for income taxes |
|
|
350 |
|
|
|
131 |
|
|
|
1,294 |
|
|
|
345 |
|
|
Net income from continuing operations |
|
|
1,704 |
|
|
|
2,395 |
|
|
|
6,013 |
|
|
|
4,866 |
|
|
Loss from discontinued operations, net of tax |
|
|
(47) |
|
|
|
(91) |
|
|
|
(103) |
|
|
|
(139) |
|
|
Net income |
|
$ |
1,657 |
|
|
$ |
2,304 |
|
|
$ |
5,910 |
|
|
$ |
4,727 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings (loss) per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
$ |
0.12 |
|
|
$ |
0.17 |
|
|
$ |
0.44 |
|
|
$ |
0.35 |
|
|
Discontinued operations |
|
|
- |
|
|
|
- |
|
|
|
(0.01) |
|
|
|
(0.01) |
|
|
Total |
|
$ |
0.12 |
|
|
$ |
0.17 |
|
|
$ |
0.43 |
|
|
$ |
0.34 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings (loss) per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
$ |
0.12 |
|
|
$ |
0.17 |
|
|
$ |
0.43 |
|
|
$ |
0.35 |
|
|
Discontinued operations |
|
|
- |
|
|
|
(0.01) |
|
|
|
- |
|
|
|
(0.01) |
|
|
Total |
|
$ |
0.12 |
|
|
$ |
0.16 |
|
|
$ |
0.43 |
|
|
$ |
0.34 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
13,794 |
|
|
|
13,959 |
|
|
|
13,817 |
|
|
|
13,941 |
|
|
Diluted |
|
|
13,834 |
|
|
|
13,976 |
|
|
|
13,836 |
|
|
|
13,962 |
|
|
HireQuest |
||||||||||||||||
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|
|
Three months ended |
|
Nine months ended |
||||||||||||
|
|
|
September 30, |
|
September 30, |
|
September 30, |
|
September 30, |
||||||||
|
Net income |
|
$ |
1,657 |
|
|
$ |
2,304 |
|
|
$ |
5,910 |
|
|
$ |
4,727 |
|
|
Interest expense |
|
|
35 |
|
|
|
62 |
|
|
|
72 |
|
|
|
277 |
|
|
Provision for income taxes |
|
|
350 |
|
|
|
131 |
|
|
|
1,294 |
|
|
|
345 |
|
|
Depreciation and amortization |
|
|
763 |
|
|
|
752 |
|
|
|
2,303 |
|
|
|
2,221 |
|
|
EBITDA |
|
|
2,805 |
|
|
|
3,249 |
|
|
|
9,579 |
|
|
|
7,570 |
|
|
WOTC related costs |
|
|
59 |
|
|
|
186 |
|
|
|
232 |
|
|
|
500 |
|
|
Non-cash compensation |
|
|
331 |
|
|
|
345 |
|
|
|
691 |
|
|
|
824 |
|
|
Goodwill and intangible asset impairment |
|
|
- |
|
|
|
230 |
|
|
|
- |
|
|
|
230 |
|
|
Gain on divestiture |
|
|
- |
|
|
|
- |
|
|
|
(248) |
|
|
|
- |
|
|
Acquisition related charges, net |
|
|
- |
|
|
|
284 |
|
|
|
- |
|
|
|
1,130 |
|
|
Write down of notes receivable |
|
|
1,298 |
|
|
|
250 |
|
|
|
1,513 |
|
|
|
353 |
|
|
Adjusted EBITDA |
|
$ |
4,493 |
|
|
$ |
4,544 |
|
|
$ |
11,767 |
|
|
$ |
10,607 |
|
|
HireQuest |
|||||||||||||||
|
|
Three months ended |
|
Nine months ended |
||||||||||||
|
(in thousands, except per share data) |
September 30, |
|
September 30, |
|
September 30, |
|
September 30, |
||||||||
|
Net income |
$ |
1,657 |
|
|
$ |
2,304 |
|
|
$ |
5,910 |
|
|
$ |
4,727 |
|
|
Amortization of acquired intangibles |
|
567 |
|
|
|
558 |
|
|
|
1,701 |
|
|
|
1,638 |
|
|
Goodwill and intangible asset impairment |
|
- |
|
|
|
230 |
|
|
|
- |
|
|
|
230 |
|
|
Gain on divestiture |
|
- |
|
|
|
- |
|
|
|
(248) |
|
|
|
- |
|
|
Acquisition related charges, net |
|
- |
|
|
|
284 |
|
|
|
- |
|
|
|
1,130 |
|
|
Write down of notes receivable |
|
1,298 |
|
|
|
250 |
|
|
|
1,513 |
|
|
|
353 |
|
|
Tax effect of adjustments (1) |
|
(485) |
|
|
|
(344) |
|
|
|
(771) |
|
|
|
(871) |
|
|
Adjusted net income |
$ |
3,037 |
|
|
$ |
3,282 |
|
|
$ |
8,105 |
|
|
$ |
7,207 |
|
|
Adjusted net income per diluted share |
$ |
0.22 |
|
|
$ |
0.23 |
|
|
$ |
0.59 |
|
|
$ |
0.52 |
|
|
Weighted average diluted shares outstanding |
|
13,834 |
|
|
|
13,976 |
|
|
|
13,836 |
|
|
|
13,962 |
|
|
(1) the tax effect includes the application of our estimated combined statutory rate of |
|||||||||||||||
|
HireQuest |
||||||||
|
|
|
Three months ended |
|
Nine months ended |
||||
|
(in thousands) |
|
September 30, |
|
September 30, |
|
September 30, |
|
September 30, |
|
Core SG&A |
|
$ 4,385 |
|
$ 4,574 |
|
$ 12,355 |
|
$ 14,325 |
|
Net workers' compensation expense (benefit) |
|
434 |
|
(99) |
|
513 |
|
56 |
|
MRINetwork advertising fund expenses |
|
- |
|
61 |
|
- |
|
205 |
|
Acquisition related charges (1) |
|
- |
|
284 |
|
- |
|
1,233 |
|
Impairment of notes receivable |
|
1,298 |
|
250 |
|
1,513 |
|
353 |
|
SG&A |
|
$ 6,117 |
|
$ 5,070 |
|
$ 14,381 |
|
$ 16,172 |
|
(1) Acquisition related charges, for purposes of calculating Core SG&A, only includes expenses categorized as SG&A and does not |
||||||||
View original content to download multimedia:https://www.prnewswire.com/news-releases/hirequest-reports-financial-results-for-third-quarter-2026-302938370.html
SOURCE HireQuest
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were HireQuest’s third-quarter 2026 revenue and earnings?
HireQuest reported $8.8 million in revenue and net income of $1.7 million, or $0.12 per diluted share. Revenue increased 4.0% from the prior-year quarter, while net income declined from $2.3 million, or $0.16 per diluted share.
Why did HireQuest’s third-quarter 2026 profit decline?
HireQuest attributed the decline primarily to approximately $1.3 million in notes receivable writedowns and higher net workers’ compensation expense. The writedowns primarily related to repossession of a franchised location. Workers’ compensation shifted from a $99,000 benefit to approximately $434,000 in expense.
How did the MRINetwork divestiture affect HireQuest’s third-quarter system-wide sales?
The prior-year quarter included $15.8 million in system-wide sales related to the divested MRINetwork assets. The resulting decline was partly offset by increases of $7.5 million at HireQuest Direct and $6.6 million at Snelling. Excluding the divestiture, quarterly system-wide sales increased 11.4%.
What quarterly dividend does HireQuest intend to pay?
HireQuest intends to pay $0.06 per common share quarterly, with declarations and amounts dependent on business results, financial position and board discretion. During the third quarter of 2026, it paid a $0.06-per-share cash dividend declared on September 1, 2026.