Quarterly ResultMay 12, 2026, 04:14 PM
HireQuest Q1 Net Income $1.6M, EPS $0.11; Revenue $6.5M
AI Summary
HireQuest, Inc. reported its first-quarter 2026 financial results, with net income increasing to $1.6 million, or $0.11 per diluted share, compared to $1.4 million, or $0.10 per diluted share, in Q1 2025. Total revenue decreased 12.7% to $6.5 million, and system-wide sales fell 13.4% to $102.6 million, primarily due to the divestiture of MRINetwork assets on January 1, 2026. The company maintained a strong balance sheet with no debt and paid a quarterly cash dividend of $0.06 per share. Management expressed confidence in its franchise model and position to benefit from a stabilizing job market.
Key Highlights
- Net income increased to $1.6 million ($0.11 diluted EPS) from $1.4 million ($0.10 diluted EPS) year-over-year.
- Total revenue decreased 12.7% to $6.5 million, partly due to the MRINetwork divestiture.
- Adjusted EBITDA was $2.7 million, down from $2.8 million in the prior-year period.
- System-wide sales decreased 13.4% to $102.6 million, impacted by the MRINetwork divestiture.
- SG&A expenses decreased 18.8% to $4.3 million, also influenced by the divestiture.
- Reported a gain on divestiture of $248,000 in the first quarter of 2026.
- Paid a quarterly cash dividend of $0.06 per share of common stock.
- Cash balance was $1.0 million as of March 31, 2026, down from $3.9 million.