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Free Research Report as TrueBlue Reported Better Than Expected Earnings Results

Stock Monitor: Kelly Services Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 05, 2017 / Active-Investors free earnings report on TrueBlue, Inc. (NYSE: TBI) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=TBI. The Company posted its financial results on October 30, 2017, for the third quarter fiscal 2017. The staffing Company's PeopleScout segment's revenue increased 10% on a y-o-y basis. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is currently working on the research report for Kelly Services, Inc. (NASDAQ: KELYA), which also belongs to the Services sector as the Company TrueBlue. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=KELYA

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, TrueBlue most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=TBI

Earnings Highlights and Summary

For three months ended October 01, 2017, TrueBlue's revenues decreased 5.2% to $660.78 million from $697.10 million in Q3 FY16.

During Q3 FY17, TrueBlue's gross profit decreased 36% to $172.02 million from $178.40 million in the same period last year. For the reported quarter, the Company's gross margin increased 40 basis points to 26% of revenue from 25.6% of revenue in Q3 FY16.

During Q3 FY17, TrueBlue's EBITDA increased 2.6% to $40.47 million from $39.44 million in the same period last year. For the reported quarter, the Company's adjusted EBITDA decreased 17.6% to $40.65 million from $49.31 million in Q3 FY16. During Q3 FY17, the Company's adjusted EBITDA margin decreased 90 basis points to 6.2% of revenue from 7.1% of revenue in the same period last year.

During Q3 FY17, TrueBlue's operating income increased 5.5% to $29.28 million from $27.75 million in the same period last year. During Q3 FY17, the Company's operating margin increased 40 basis points to 4.4% of revenue from 4.0% of revenue in the same period last year.

For the reported quarter, TrueBlue's net income decreased 9.4% to $21.22 million from $23.43 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS decreased 8.9% to $0.51 from $0.56 in the same period last year. For the reported quarter, the Company's adjusted net income decreased 19.6% to $24.78 million from $30.84 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS decreased 16.7% to $0.60 from $0.72 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $0.58.

TrueBlue's Segment Details

PeopleReady - During Q3 FY17, PeopleReady segment's revenue decreased 4.8% to $415.0 million from $435.78 million in the same period last year. For the reported quarter, the segment's adjusted EBITDA decreased 29.5% to $28.75 million from $40.79 million in Q3 FY16.

PeopleManagement - During Q3 FY17, PeopleManagement segment's revenue decreased 9.2% to $196.84 million from $216.83 million in the same period last year. For the reported quarter, the segment's adjusted EBITDA increased 31.2% to $6.94 million from $5.29 million in Q3 FY16.

PeopleScout - During Q3 FY17, PeopleScout segment's revenue increased 10% to $48.95 million from $44.48 million in the same period last year. For the reported quarter, the segment's adjusted EBITDA increased 23% to $10.28 million from $8.36 million in Q3 FY16.

Balance Sheet

As on October 01, 2017, TrueBlue's cash and cash equivalents increased 0.3% to $35.06 million from $34.97 million on January 01, 2017. For the reported quarter, the Company's net long-term debt decreased 17.7% to $111.41 million from $135.36 million in Q4 FY16.

In the first nine months of 2017, the Company's cash provided by operating activities decreased 62.2% to $80.62 million from $213.25 million in the same period last year.

Outlook

For Q4 FY17, the Company expects revenue to be in the range of $660 million to $675 million and diluted EPS to be in the band of $0.36 to $0.41. The Company estimates adjusted diluted EPS to be in the range of $0.45 to $0.50 for Q4 FY17.

Stock Performance Snapshot

December 04, 2017 - At Monday's closing bell, TrueBlue's stock fell 1.42%, ending the trading session at $27.80.

Volume traded for the day: 170.91 thousand shares.

Stock performance in the last month – up 4.91%; previous three-month period – up 37.62%; past twelve-month period – up 32.07%; and year-to-date – up 12.78%

After yesterday's close, TrueBlue's market cap was at $1.17 billion.

Price to Earnings (P/E) ratio was at 20.23.

The stock is part of the Services sector, categorized under the Staffing & Outsourcing Services industry. This sector was up 0.8% at the end of the session.

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