Trueblue Stock Price, News & Analysis

TrueBlue (NYSE: TBI) is set to release its Q1 2023 earnings results on April 24, 2023, after market closure. Following the announcement, management will host a webcast at 2:30 p.m. PT (5:30 p.m. ET) to discuss the results. The financial presentation will be accessible on TrueBlue's official website. In 2022, TrueBlue connected approximately 611,000 people with work, showcasing its role as a top provider of specialized workforce solutions. The company operates through segments like PeopleReady for on-demand industrial staffing, PeopleScout for recruitment process outsourcing, and PeopleManagement for contingent staffing solutions.

TrueBlue, a leader in workforce solutions, has announced the appointment of three key executives. Kristy Willis is now President of PeopleReady, bringing over 20 years of staffing industry experience, previously serving as Chief Sales and Operations Officer. Rick Betori is named President of PeopleScout, with a strong background in digital transformation and operations, having been with TrueBlue since 2011. Caroline Sabetti becomes Chief Marketing and Communications Officer, having held several senior roles within the company since 2002. These appointments come as Taryn Owen transitions to President & COO, overseeing all brands and key company functions. The leadership changes aim to enhance TrueBlue's capacity to meet evolving workforce demands.

Centerline Drivers has honored Joel Lawson as its 2022 Driver of the Year, marking the second year of this recognition under its Respect the Drive program. Lawson, a Baltimore native, boasts over 3 million safe driving miles in 20 years, with no DOT accidents. He is a military veteran and a mentor to new drivers at Standard Logistics, where he has worked for nearly 15 years. The award includes a trophy, $5000 bonus, and gear. Centerline aims to further promote the contributions of truck drivers throughout 2023. The company, part of TrueBlue (NYSE: TBI), connects over 4,500 drivers with major companies annually.

PeopleReady reports nearly 450,000 hospitality job openings in January and February 2023, with 200,000 jobs posted in the last month. This surge is driven by increased seasonal demand as businesses prepare for spring break, which is expected to be busier than pre-pandemic periods. Despite this, about 80% of hoteliers report staffing shortages, with 22% indicating severe issues. The most in-demand roles include housekeepers, waitstaff, and maintenance workers. PeopleReady offers flexible staffing solutions through its JobStack app, which helps hospitality businesses manage their workforce effectively.

According to a report by PeopleReady, U.S. job postings exceeded 49.1 million in 2022, marking a 12% increase from the previous year and a 42% rise above pre-pandemic levels. With 1.7 job openings for each job seeker, labor shortages remain a pressing issue as employers face inflation and supply chain challenges. Key sectors with notable job postings included: Business and professional services (4.2 million), Retail (4 million), and Education and health services (2 million). The report highlights trends in flexible scheduling and employee upskilling as strategies for recruitment and retention in a fluctuating labor market.

TrueBlue has announced that three of its leaders were recognized in the HRO Today 2022 HR Superstars list for their innovative contributions to the human resources industry. The executives honored include Steve Cooper (CEO), Taryn Owen (President and COO), and Carl Schweihs (President and COO of PeopleManagement). Cooper, who has a long history with the company, has led TrueBlue through significant growth. Owen, appointed in September 2022, oversees various operating segments and emphasizes a commitment to an inclusive workplace. Schweihs has introduced new technologies to improve worker experiences. TrueBlue serves 84,000 clients and connected approximately 611,000 people to work in 2022.

TrueBlue (NYSE:TBI) reported its fourth quarter and full-year results for 2022, revealing a 10% drop in Q4 revenue to $558 million from $622 million in Q4 2021. Net income per diluted share fell to $0.21 from $0.57 year-over-year. However, for the full year, revenue increased by 4% to $2.3 billion, compared to $2.2 billion in 2021. Net income per diluted share rose to $1.86, up from $1.74 in the previous year. CEO Steve Cooper highlighted effective cost management and disciplined pricing as key factors in navigating macroeconomic challenges, positioning the company to address blue-collar labor shortages and recruitment issues.