Welcome to our dedicated page for Hirequest news (Ticker: HQI), a resource for investors and traders seeking the latest updates and insights on Hirequest stock.
HireQuest Inc (HQI) delivers staffing solutions through a nationwide franchise network specializing in direct dispatch, executive search, and commercial services. This page provides investors and industry professionals with a centralized source for official company announcements and operational updates.
Track HQI's latest press releases, earnings reports, and strategic initiatives in the temporary staffing sector. Access verified information on leadership changes, franchise expansions, and industry recognitions alongside analysis of regulatory filings and market positioning updates.
Key updates include quarterly financial results, mergers/acquisitions, service line expansions, and technology enhancements to its payroll platform. Content is organized chronologically showcase material developments while maintaining compliance with financial disclosure standards.
Bookmark this page for streamlined access to HireQuest's corporate communications. Combine these primary sources with broader market analysis to inform your understanding of HQI's role in the evolving staffing industry.
HireQuest, Inc. (NASDAQ:HQI) reported significant financial growth for Q1 2022, with franchise royalties doubling to $6.6 million, up 101.7% year-over-year. Total revenue surged 139.4% to $8.1 million. Adjusted EBITDA reached a record $5.3 million, up from $1.5 million last year. However, net income fell to $603,000, or $0.04 per diluted share, largely due to $3.6 million in expenses from converting acquisitions into franchises. The company's system-wide sales also increased significantly, indicating robust franchise growth.
HireQuest, Inc. (Nasdaq:HQI) announced a conference call scheduled for May 10, 2022, at 4:30 p.m. ET to discuss its financial results for Q1 ended March 31, 2022. The call is open to stakeholders, with dial-in options available for both domestic and international participants. A replay of the call will be accessible through May 24, 2022.
HireQuest operates over 220 franchisee-owned offices across the U.S., providing staffing solutions across various industries and employing approximately 73,000 individuals annually.
HireQuest reported strong financial results for Q4 and full year 2021, with Q4 EPS of $0.16 and net income of $2.2 million. Full year EPS reached $0.87, net income at $11.8 million, and adjusted EBITDA of $14.7 million. Franchise royalties surged 88% year-over-year in Q4 to $6.1 million, while total revenue for Q4 increased 99% to $6.8 million. The company completed multiple acquisitions, expanding its market presence. The board declared a quarterly cash dividend of $0.06 per share, marking its seventh consecutive quarter of dividends.
HireQuest, Inc. (NASDAQ:HQI) will host a conference call on March 15, 2022, at 4:30 p.m. Eastern Time to discuss its financial results for the fourth quarter and year ended December 31, 2021. The call will provide insights into the company’s performance and future outlook. Interested parties are encouraged to dial in 5-10 minutes early, with a toll-free number of 1-888-506-0062 and an international number of 1-973-528-0011. A replay of the conference will be accessible until March 29, 2022.
HireQuest, Inc. (Nasdaq: HQI) has successfully completed its acquisition of Northbound Executive Search, LTD., a New York-based executive placement firm known for serving blue chip financial clients. This strategic move allows HireQuest to expand its service offerings in executive placement and consulting. Northbound had generated over $15 million in revenue in 2021. Concurrently, Northbound has been transitioned to HireQuest’s franchise model, enhancing the company's operational scale and market reach.
HireQuest, Inc. (NASDAQ:HQI) has declared a quarterly dividend of $0.06 per share, payable on March 15, 2022, to shareholders of record by the close of business on March 1, 2022. The company is a national franchisor providing on-demand labor and staffing solutions across the U.S., operating over 210 franchisee-owned offices in more than 35 states. HireQuest employs approximately 60,000 individuals annually, serving various industries.
HireQuest, Inc. (NASDAQ:HQI) has successfully completed the acquisition of The Dubin Group and Dubin Workforce Solutions, businesses specializing in executive placement and commercial staffing in Philadelphia. The acquisition enhances HireQuest's portfolio and enables the conversion of these businesses to its Snelling franchise model. In conjunction with this acquisition, Dubin Workforce Solutions was sold to a new franchisee and transitioned to the HireQuest Direct model, positioning the company for future growth.
HireQuest, a national franchisor specializing in staffing services, announced its acquisition of Northbound Executive Search, a New York-based firm focused on executive placement and short-term consulting, generating over $15 million in revenue for 2021. This strategic move aims to expand HireQuest's offerings in higher-margin sectors. The acquisition will utilize existing cash, a line of credit, and $500,000 in stock, with a portion financed via a seller's note. Expected completion is in Q1 2022, ensuring uninterrupted operations for Northbound.
HireQuest, Inc. (NASDAQ:HQI) has successfully acquired the staffing division of dmDickason Personnel Services, which reported approximately $18 million in system-wide sales in 2021. The acquisition includes two offices in El Paso, Texas, and one in Las Cruces, New Mexico. Following the acquisition, these offices were sold to a franchisee and converted to the Snelling franchise model. This strategic move aims to enhance HireQuest's operational footprint and is expected to provide future growth opportunities.
HireQuest, a national franchisor of staffing services, has announced its acquisition of The Dubin Group and Dubin Workforce Solutions based in Philadelphia. This strategic move, set to close in the first quarter of 2022, will enhance HireQuest's service offerings in the Northeast and introduce higher-margin executive placement services to its portfolio. The acquisition will utilize existing cash and a potential draw on its line of credit. Founder Kenny Dubin will remain involved to aid in development.
FAQ
What is the current stock price of Hirequest (HQI)?
What is the market cap of Hirequest (HQI)?
