BARRETT BUSINESS SERVICES (BBSI) Company Report

BBSI reported Q4 2025 gross billings of $2.4 billion, up 6.4% year-over-year, and diluted EPS of $0.64, up 2%. For the full year 2025, gross billings increased 8.6% to $9 billion and diluted EPS rose 5% to $2.08.
For 2026, the company projects gross billings to increase between 3% and 5% and average worksite employees (WSEs) to grow between 2% and 4%, with gross margin anticipated to be between 2.7% and 2.85%.
Growth in 2025 was driven by record WSE additions from new clients, but was partially offset by client workforce reductions that accelerated in Q4 2025 and are expected to continue into early 2026 due to macroeconomic uncertainties.
BBSI continued to invest in its tech stack and BBSI Benefits offering, and repurchased $17 million of shares in Q4 2025, with $75 million remaining under its August 2025 repurchase program. The company also noted a positive shift in the workers' compensation market, with an 8.7% premium rate increase approved in California in late 2025.

3 days ago

Transcript

BBSI Reports Q4 2025 Results and Provides 2026 Outlook

BBSI

Guidance Update

Share Buyback

New Projects/Investments

BBSI reported Q4 2025 gross billings increased 6.4% to $2.4 billion and diluted earnings per share increased 2% to $0.64. For the full year 2025, gross billings grew 8.6% to $9 billion and diluted earnings per share increased 5% to $2.08.
Worksite employees (WSEs) grew 5.1% in Q4 2025, driven by record new client additions, but growth was tempered by client workforce reductions that accelerated in Q4 due to macroeconomic uncertainties.
For 2026, BBSI expects gross billings to increase between 3% and 5% and average WSEs to increase between 2% and 4%. Gross margin is projected to range between 2.7% and 2.85%, with an effective annual tax rate between 26% and 27%.
The company returned $50 million to shareholders in 2025, including $42 million in share repurchases and $8.2 million in dividends, with $75 million remaining available under the August 2025 repurchase program.
BBSI continues to invest in its asset-light model, expanding into new geographies, and in its tech stack, with multiple product releases in 2025 and planned IT enhancements for 2026, including a performance management module to be released in Q2.

3 days ago

Transcript

BBSI Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Outlook

BBSI

Earnings

Guidance Update

Share Buyback

BBSI reported strong financial results for Q4 and full-year 2025, with gross billings increasing 6.4% to $2.4 billion and diluted EPS growing 2% to $0.64 in Q4 2025, and full-year gross billings reaching $9 billion, up 8.6%, with diluted EPS of $2.08, up 5%.
For 2026, the company expects gross billings to increase between 3% and 5% and average worksite employees (WSEs) to grow between 2% and 4%, with a projected gross margin range of 2.7% to 2.85%.
Operational highlights include a 5.1% increase in PEO worksite employees in Q4 2025, driven by record new client additions, despite client workforce reductions. The BBSI Benefits offering expanded significantly, serving approximately 800 clients and over 24,000 participants by January 2026.
BBSI maintained a strong balance sheet with $157 million in unrestricted cash and investments and no debt, and returned $50 million to shareholders in 2025 through $42 million in share repurchases and $8.2 million in dividends.
The company noted a positive shift in the workers' compensation market, with an 8.7% premium rate increase approved in California in late 2025, which is expected to help manage margin compression.

3 days ago

Transcript

BBSI Reports Q4 and Full Year 2025 Financial Results and Provides 2026 Outlook

BBSI

Earnings

Dividends

Share Buyback

BBSI reported Q4 2025 revenues of $321.1 million, up 5%, and full-year 2025 revenues of $1.24 billion, up 8%.
For Q4 2025, net income was $16.4 million with diluted earnings per share of $0.64, while full-year 2025 net income increased 3% to $54.4 million with diluted earnings per share up 5% to $2.08.
Gross billings for Q4 2025 increased 6% to $2.40 billion, and for the full year 2025, they rose 9% to $9.04 billion, driven by a 5% increase in average worksite employees (WSEs) in Q4 and 7% for the full year.
The company declared a regular quarterly cash dividend of $0.08 per share and repurchased $17 million of stock in Q4 2025, with $75 million remaining under its repurchase program as of December 31, 2025.
For 2026, BBSI expects gross billings growth of 3% to 5% and average WSEs growth of 2% to 4%.

3 days ago

8-K

BBSI Reports Strong Q3 2025 Results with Record Worksite Employee Growth

BBSI

Earnings

Guidance Update

Share Buyback

BBSI reported strong Q3 2025 financial results, with gross billings increasing 8.6% to $2.32 billion and net income per diluted share growing 7% to $0.79.
The company achieved a record number of Worksite employees (WSEs), with total WSE growth of 6.1% driven by 10,400 new WSEs from new clients, despite a slowdown in client hiring in California.
BBSI continued to expand its health insurance offering, BBSI Benefits, adding approximately 1,300 participants in Q3 2025 and reaching over 20,000 total participants across 750 clients through October.
The company returned capital to shareholders by repurchasing $8 million of shares at an average price of $47 per share and paying $2.1 million in dividends during Q3 2025.
BBSI updated its full-year 2025 outlook, projecting gross billings growth between 8.5% and 9.5% and WSEs to increase between 6% and 8%.

Nov 5, 2025, 10:00 PM

Transcript

BBSI Reports Strong Q3 2025 Financial Results, Declares Dividend, and Continues Share Buyback

BBSI

Earnings

Dividends

Share Buyback

BBSI reported revenues of $318.9 million for the third quarter of 2025, an 8% increase compared to the prior year, with net income rising to $20.6 million, or $0.79 per diluted share.
Gross billings increased 9% to $2.32 billion in Q3 2025, primarily due to a 6% increase in average worksite employees (WSEs) from net new clients.
The company's Board of Directors declared a regular quarterly cash dividend of $0.08 per share, payable on December 5, 2025, to stockholders of record as of November 21, 2025.
Under a new $100 million repurchase program authorized in August 2025, BBSI repurchased $7.5 million of stock in Q3 2025, with approximately $92.5 million remaining available.
For the full year 2025, BBSI expects gross billings growth of 8.5% to 9.5% and average WSEs growth of 6% to 8%.

Nov 5, 2025, 9:09 PM

8-K

BBSI Q1 2025 Financial & Operational Update

BBSI

Earnings

Guidance Update

Product Launch

Dividends

Share Buyback

Revenues increased 10% to $292.6M with gross billings rising to $2.09B, marking a strong topline performance .
Achieved a record Q1 performance with robust client retention, new client adds, and 7.6% growth in worksite employees .
Reported mixed operational outcomes with a 10% decline in staffing revenues and a Q1 net loss of $1.0M .
Implemented strategic capital allocation through a $9M share repurchase under a $75M program, a cash dividend of $2.1M, and declaration of a $0.08 per share dividend payable on June 6, 2025 .
Drove product innovation with the rollout of BBSI Benefits and the launch of an applicant tracking system, alongside maintaining guidance for 7%-9% billings growth and 4%-6% WSE growth amid economic uncertainty .