Quarterly ResultMay 5, 2026, 04:40 PM
TrueBlue Q1 Revenue Up 8% to $399M; Net Loss $20M
AI Summary
TrueBlue reported first quarter 2026 financial results, with revenue increasing 8% to $399 million, including 7% organic growth. The company posted a net loss of $20 million, compared to a net loss of $14 million in the prior year, which included a non-cash goodwill impairment charge of $4 million. Adjusted EBITDA improved to -$3 million from -$4 million, and SG&A expenses decreased by 8%. Management highlighted progress in its long-term growth strategy, driven by skilled verticals and operational discipline.
Key Highlights
- Q1 2026 revenue increased 8% to $399 million, with 7% organic growth.
- Reported a net loss of $20 million, up from $14 million in Q1 2025.
- Net loss per diluted share was $0.66, compared to $0.48 in the prior year.
- Adjusted EBITDA improved to -$3 million from -$4 million year-over-year.
- SG&A expense decreased 8% to $87 million from $95 million.
- PeopleReady segment revenue grew 19% to $225 million.
- PeopleManagement segment revenue decreased 6% to $127 million.
- Total liquidity stood at $60 million, with $24 million cash and $74 million debt.