HireQuest, Inc. reports news as a franchisor of on-demand staffing, direct-hire recruiting, executive search and contract workforce services. Its divisions include HireQuest Direct, HireQuest Health, Snelling, TradeCorp, DriverQuest and MRINetwork, serving industries such as construction, light industrial, healthcare, finance, manufacturing, hospitality, logistics, cybersecurity and engineering across U.S. and international markets.
Recurring HQI updates cover operating and financial results, conference calls, quarterly cash dividends, share repurchase authorization, capital-structure activity and governance matters. Company releases also describe the franchise-based staffing model and the workforce-service categories delivered through its branded divisions.
HireQuest, Inc. (Nasdaq: HQI) has announced the acquisition of certain assets from Snelling Staffing for approximately $17.3 million. This deal includes 48 locations that generated about $95 million in sales in 2020. The acquisition aims to enhance HireQuest’s footprint in commercial staffing and leverage operational synergies to attract national accounts and new franchisees. The transaction is expected to close on February 28, 2021, subject to standard conditions, with both companies continuing business operations without interruption during the transition.
HireQuest, Inc. (Nasdaq: HQI) reported a net income of $2.0 million or $0.15 per share for Q3 2020, a significant recovery from a net loss of $7.8 million or $(0.60) per share in the prior year. Total revenue reached $3.4 million, up 2.7% from $3.3 million in Q3 2019, with franchise royalties rising 2.5%. The company declared its first quarterly cash dividend of $0.05 per share, with an annual yield of 2.4%. Despite challenges from the global healthcare crisis, no franchise has failed, and the business has shown signs of stabilization.
HireQuest, Inc. (Nasdaq: HQI) announced a conference call scheduled for November 12, 2020, at 4:30 p.m. ET to discuss its Q3 financial results for the period ending September 30, 2020. The call will be accessible via toll-free and international dial-in numbers, with a replay available until November 26, 2020. HireQuest is a nationwide franchisor offering staffing solutions, employing approximately 80,000 individuals annually across various industries through its 136 franchisee-owned offices in 30 states and D.C. For more information, visit www.hirequest.com.