Earnings summaries and quarterly performance for TrueBlue.
Executive leadership at TrueBlue.
Taryn Owen
Detailed
President and Chief Executive Officer
CEO
CS
Carl Schweihs
Detailed
Executive Vice President and Chief Financial Officer
GF
Garrett Ferencz
Detailed
Executive Vice President and Chief Legal Officer
KW
Kristy Willis
Detailed
Executive Vice President and President, PeopleReady
RB
Richard Betori
Detailed
Executive Vice President and President, PeopleScout
Board of directors at TrueBlue.
Research analysts who have asked questions during TrueBlue earnings calls.
MM
Mark Marcon
Baird
6 questions for TBI
Also covers: ADP, AMN, ASGN +13 more
Marc Riddick
Sidoti & Company, LLC
5 questions for TBI
Also covers: ABM, BBSI, BEEP +14 more
KM
Kartik Mehta
Northcoast Research
4 questions for TBI
Also covers: ADP, BETR, CTAS +15 more
RG
Ryan Griffin
BMO Capital Markets
3 questions for TBI
Also covers: AMN, ASGN, COUR +5 more
Jeffrey Silber
BMO Capital Markets
1 question for TBI
Also covers: AMN, ASGN, ATGE +18 more
Recent press releases and 8-K filings for TBI.
TrueBlue Amends Credit Agreement, Reduces Line of Credit
TBI
Debt Issuance
Financial Covenants
- TrueBlue, Inc. entered into a Second Amendment to Amended and Restated Credit Agreement on January 30, 2026.
- This amendment converts the credit facility from a cash-flow based revolving credit facility to an asset-based lending facility.
- The company's line of credit has been reduced from $255 million to $175 million, while retaining the option to increase the amount by $150 million.
- The agreement introduces a borrowing base calculation and a minimum excess availability covenant, which may be replaced by a springing fixed charge coverage ratio covenant after September 27, 2026, upon satisfaction of certain conditions.
3 days ago
TrueBlue Highlights Board Refreshment and Strategic Initiatives Amidst Proxy Contest
TBI
Board Change
Proxy Vote Outcomes
- TrueBlue, Inc. issued a press release on January 8, 2026, highlighting recent Board refreshment and strategic initiatives aimed at achieving long-term profitable growth.
- The company is responding to director nominations from EHS Management, LLC and states it is executing a plan for improved financial results and sustainable, profitable growth through strengthened performance in skilled businesses, streamlined cost structure, and focus on operational efficiency.
- The Board has appointed William Greenblatt and William Seward and plans for two existing directors to step down at or before the 2026 Annual Meeting of Shareholders, noting that EHS is waging a costly and disruptive proxy contest.
- TrueBlue advises shareholders that no action is required at this time and will file a definitive proxy statement for the 2026 annual meeting.
Jan 9, 2026, 1:42 AM
TrueBlue Highlights Board Refreshment and Strategic Initiatives
TBI
Board Change
Proxy Vote Outcomes
- TrueBlue is executing a strategic plan aimed at achieving sustainable, profitable growth through strengthened performance in skilled businesses, streamlined cost structure, and enhanced digital technology platforms.
- The company has refreshed its Board, appointing William Greenblatt and William Seward, with two existing directors scheduled to step down by the 2026 Annual Meeting of Shareholders.
- These Board appointments and planned retirements were endorsed by TrueBlue's largest shareholder.
- TrueBlue is responding to a proxy contest initiated by EHS Management, despite the Board having engaged with EHS regarding its refreshment plans prior to EHS's nominations.
Jan 8, 2026, 10:31 PM
TrueBlue Shareholder EHS Management Nominates Three Directors Amid Board Expertise Concerns
TBI
Board Change
Proxy Vote Outcomes
- EHS Management, a significant shareholder of TrueBlue, has nominated three director candidates for election to the TrueBlue board at the 2026 annual meeting.
- EHS expressed concerns about persistent gaps in the board's expertise in staffing, digital transformation, and capital allocation, despite the recent addition of two new directors.
- The nominees are Wayne Larkin (staffing industry expert), Dave Fleischman (digital transformation expert), and Eric H. Su (major shareholder and capital allocation expert), selected to address these identified skill gaps.
- EHS Management, through EHS Azure and Eric H. Su, beneficially owns a total of 725,204 shares of TrueBlue Common Stock.
Jan 8, 2026, 2:45 PM
EHS Investments Announces Intent to Nominate Directors for TrueBlue's 2026 Annual Meeting
TBI
Board Change
Legal Proceedings
Demand Weakening
- EHS Investments announced its intent to nominate director candidates for TrueBlue's (TBI) 2026 Annual Meeting, citing ongoing operational and financial deterioration and a perceived disconnect between the Board's self-assessment and the company's reality.
- EHS highlighted concerns including 12 consecutive quarters of organic revenue decline (prior to Q3 2025), a -$17 million free cash flow burn in Q3 2025 and -$40 million year-to-date, and an alleged $70-$100 million misallocation of capital on the Jobstack initiative.
- The activist shareholder also criticized the Board for declining a $12.30 per share acquisition offer in February 2025, noting TrueBlue's stock now trades at approximately $5 per share as of December 2025.
- EHS plans to propose nominees focused on staffing excellence, digital transformation, and disciplined capital allocation to drive shareholder value.
Dec 2, 2025, 2:45 PM
TrueBlue Reports Q3 2025 Results
TBI
Earnings
Guidance Update
Revenue Acceleration/Inflection
- TrueBlue reported Q3 2025 revenue increased 13% to $431.3 million, surpassing estimates, driven by significant growth in the energy and commercial driving sectors.
- The company reduced its net loss to $2 million in Q3 2025, compared to $8 million in the prior year.
- For Q4 2025, TrueBlue projects a modest adjusted EBITDA of $3 million and anticipates a gross margin decline of 370 to 410 basis points due to reserve adjustments and changes in business mix.
- Analyst sentiment is predominantly positive, with a median 12-month price target of $8.00, approximately 40.8% above the recent closing price.
Nov 3, 2025, 10:11 PM
TBI Reports Q3 2025 Financial Results and Provides Q4 Outlook
TBI
Earnings
Guidance Update
Revenue Acceleration/Inflection
- TBI reported Q3 2025 revenue of $431 million, marking a 13% increase compared to the prior year, with organic revenue growing 9%.
- The company's net loss improved to $1.9 million in Q3 2025 from $7.6 million in Q3 2024, and Adjusted EBITDA increased 127% to $10.6 million.
- Gross margin decreased by 4 percentage points primarily due to changes in business mix and lower workers' compensation benefits, while SG&A improved 8% due to disciplined cost management.
- TBI maintains a solid liquidity position with $20 million in cash, $68 million in debt, and $75 million in borrowing availability, totaling $95 million in liquidity as of Q3 2025.
- For Q4 2025, TBI projects revenue between $399 million and $424 million, an increase of 4% to 10% year-over-year, and anticipates a gross margin decline of 370 to 410 basis points.
Nov 3, 2025, 10:00 PM
TrueBlue Reports Q3 2025 Financial Results
TBI
Earnings
Guidance Update
Revenue Acceleration/Inflection
- TrueBlue (TBI) reported Q3 2025 revenue of $431 million, a 13% increase year-over-year, surpassing expectations. The company posted a net loss of $2 million but an adjusted net income of $1 million, with adjusted EBITDA reaching $11 million.
- Gross margin for the quarter was 22.7%, down from 26.2% in the prior year, primarily due to revenue mix changes and less favorable workers' compensation reserve adjustments. Despite this, SG&A expenses were reduced by 8% while revenue grew double digits, demonstrating cost discipline.
- Growth was largely driven by skilled businesses, with PeopleReady revenue up 17% (energy sector revenue more than doubled) and PeopleSolutions revenue up 28% (with the HSP acquisition contributing 39 percentage points). The commercial driver business also delivered its fifth consecutive quarter of double-digit growth.
- For Q4 2025, TrueBlue anticipates year-over-year revenue growth of 4%-10%.
Nov 3, 2025, 10:00 PM
TrueBlue Reports Third Quarter 2025 Results
TBI
Earnings
Guidance Update
Revenue Acceleration/Inflection
- TrueBlue reported Q3 2025 revenue of $431 million, a 13% increase compared to the prior year, with a net loss of $2 million which improved from an $8 million net loss in the prior year period.
- Adjusted EBITDA for Q3 2025 rose to $11 million from $5 million in the prior year period, and the company maintained a solid liquidity position with $20 million in cash, $68 million in debt, and $75 million in borrowing availability, totaling $95 million.
- For Q4 2025, TrueBlue expects revenue to be between $399 million and $424 million, indicating a 4% to 10% increase over the prior year.
Nov 3, 2025, 9:11 PM
TrueBlue Reports Strong Third Quarter 2025 Results
TBI
Earnings
Revenue Acceleration/Inflection
Guidance Update
- TrueBlue reported revenue of $431 million for the third quarter of 2025, marking a 13 percent increase compared to the prior year period.
- The company's net loss improved to $2 million in Q3 2025, compared to a net loss of $8 million in the prior year period.
- Adjusted EBITDA increased to $11 million for the quarter, up from $5 million in the prior year period.
- Adjusted net income per diluted share was $0.03 in Q3 2025, an improvement from an adjusted net loss per diluted share of $0.11 in the prior year period.
- As of the end of Q3 2025, TrueBlue had $20 million in cash, $68 million in debt, and $75 million of borrowing availability, resulting in total liquidity of $95 million.
Nov 3, 2025, 9:05 PM
Quarterly earnings call transcripts for TrueBlue.
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