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. (NASDAQ: HQI) generates a steady flow of news as a franchisor of on-demand staffing, commercial staffing, and executive search services. As a human resources consulting services company operating through brands such as HireQuest Direct, HireQuest Health, MRINetwork, Snelling, TradeCorp, DriverQuest, and Northbound Executive Search, its announcements span capital allocation decisions, franchise network developments, and labor market commentary.
On this page, readers can follow HQI news related to quarterly financial results, dividend declarations, and stock repurchase programs approved by the Board of Directors. Recent Form 8-K filings and press releases have covered quarterly cash dividends on common stock and the authorization of a stock repurchase program that permits open market and privately negotiated share purchases under Rule 10b5-1 trading plans.
HireQuest also issues news about its franchise brands and ownership structures. For example, the company has announced a change in the ownership structure of MRINetwork, its global executive search brand, transitioning majority ownership to a leadership group of current and former franchise owners while retaining partial ownership and continuing to provide shared services. Such updates highlight how HireQuest manages and supports its network of staffing and recruiting offices.
In addition, HireQuest publishes labor market outlooks based on survey data from its extensive franchise network. These releases discuss hiring trends, time-to-fill metrics, application volumes, and demand patterns across industries including construction, light industrial, healthcare, finance, manufacturing, cybersecurity, and engineering. Investors, employers, and job seekers can use this news feed to monitor how HireQuest views the evolving labor market and how its network is responding to changes in demand for skilled and flexible work.
By reviewing the HQI news page regularly, users can track company announcements, capital return policies, executive search and staffing network developments, and broader workforce insights drawn from HireQuest’s U.S. and international presence.
HireQuest, Inc. (Nasdaq: HQI) will join the Russell 3000® Index, effective June 28, enhancing its visibility to investors. This inclusion is part of the annual Russell indexes reconstitution, which ranks the largest US stocks by market capitalization as of May 7. The Russell indexes are crucial for institutional investors, with about $10.6 trillion in assets benchmarked against them. Rick Hermanns, CEO of HireQuest, noted that joining these indexes could attract new investors and improve the company’s market position.
HireQuest, Inc. (Nasdaq: HQI) reported Q1 2021 financial results, showing total revenue of $3.4 million, down 17.4% from the prior year. Franchise royalties decreased by 12.0% to $3.3 million, while service revenue plunged 65.3% to $144,000. Net income rose to $3.7 million ($0.27 per share) due to $3.9 million of miscellaneous income linked to acquisitions despite $1.4 million in related expenses. The company declared a quarterly dividend of $0.06 per share, and system-wide sales hit $54.3 million, reflecting ongoing impacts from COVID-19.
HireQuest, Inc. (Nasdaq: HQI) announced a conference call on May 17, 2021, at 4:30 p.m. ET to discuss its financial results for Q1 ended March 31, 2021. The call can be accessed via toll-free numbers and will be available for replay until May 31, 2021. HireQuest operates over 200 franchisee-owned offices across 35 states, providing employment to approximately 60,000 individuals annually. The company focuses on staffing solutions in various sectors including construction, manufacturing, and hospitality.
HireQuest, Inc. (Nasdaq: HQI) has announced a 20% increase in its quarterly cash dividend to $0.06 per share, marking an annualized yield of 1.3%. This decision reflects the company's confidence in its business prospects following the successful integration of the Snelling and LINK acquisitions. The dividend will be paid on June 15, 2021, with a record date of June 1, 2021. HireQuest plans to distribute dividends quarterly in March, June, September, and December, pending Board approval based on financial performance.
HireQuest, Inc. (Nasdaq: HQI) reported its financial results for the fourth quarter and year ended December 31, 2020. In 2020, franchise royalties fell to $12.8 million, down 12.8%, and total revenue decreased to $13.8 million, a drop of 13%. Net income for 2020 was $5.4 million, compared to a net loss of $290,000 in 2019. The company declared a quarterly cash dividend of $0.05 to shareholders. Notably, HireQuest completed the acquisitions of Snelling Staffing and LINK Staffing, enhancing its market presence and expected revenue streams.
HireQuest, Inc. (Nasdaq: HQI) has acquired the franchised operations of LINK Staffing for approximately $11.1 million in cash, excluding working capital. The acquisition includes 35 locations that generated $57 million in system-wide sales in 2020. This follows the acquisition of 47 locations from Snelling Staffing, enhancing HireQuest's market presence and revenue streams. The combined network is expected to facilitate organic growth in commercial staffing, with many LINK locations being rebranded as Snelling offices.
HireQuest, Inc. (Nasdaq: HQI) will hold a conference call on March 25, 2021, at 4:30 p.m. Eastern to discuss its fourth quarter and annual financial results for the year ended December 31, 2020. The call can be accessed via toll-free and international numbers, with an entry code of 904518. A live broadcast and a replay will be available until April 8, 2021. HireQuest operates over 180 franchised offices, providing staffing solutions across various sectors, employing approximately 50,000 individuals annually.
HireQuest, Inc. (Nasdaq: HQI) has completed the acquisition of assets from Snelling Staffing for approximately $17.3 million. This acquisition, which includes 47 Snelling locations that generated about $87 million in system sales in 2020, enhances HireQuest's commercial staffing capabilities. The company plans to sell certain Snelling locations to third parties while maintaining royalty revenues through a trademark license agreement. The acquisition was funded using existing cash and a draw on the line of credit.
HireQuest, Inc. (Nasdaq: HQI) announced the acquisition of LINK Staffing's franchised operations for approximately $11 million in cash. This acquisition adds 35 locations that generated $57 million in sales in 2020, enhancing HireQuest's commercial staffing footprint. Along with the pending acquisition of Snelling Staffing, the company aims to expand to over 80 locations, particularly in growing markets like Texas and Florida. Funding for the transaction will come from cash reserves and a line of credit, with expectations to close by March 2021. A $0.05 per share dividend is also declared for March 15, 2021.
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.
FAQ
What is the current stock price of Hirequest (HQI)?
What is the market cap of Hirequest (HQI)?
