TBI

Image source: The Motley Fool. Tuesday, Aug. 4, 2026 at 5:00 p.m. ET President and Chief Executive Officer - Taryn Owen Executive Vice President and Chief Financial Officer - Carl Schweihs Operator: Greetings and welcome to the TrueBlue Second Quarter 2026 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. At this time, I want to remind everyone that today's call and slide presentation contain forward-looking statements, all of which are subject to risks and uncertainties, and management assumes no obligation to update or revise any forward-looking statements. These risks and uncertainties, some of which are described in today's press release and SEC filings, could cause actual results to differ materially from those in the forward-looking statements. Management uses non-GAAP measures when presenting financial results. You are encouraged to review the non-GAAP reconciliations in today's earnings release or at trueblue.com under the Investor Relations section for a complete understanding of these terms and their purpose. Any comparisons made today are based on a comparison to the same period in the prior year, unless otherwise stated. Lastly, a copy of the company's prepared remarks will be provided on TrueBlue's investor website at the conclusion of today's call, and a full transcript and audio replay will be available soon after the call. It is now my pleasure to turn the call over to Taryn Owen, President and Chief Executive Officer. Please go ahead. Taryn Owen: Thank you, Operator, and welcome, everyone, to today's call. I'm joined by our Chief Financial Officer, Carl Schweihs. We delivered a strong second quarter, exceeding expectations and continuing to build momentum through disciplined execution. We achieved double-digit top-line growth for the quarter with continued expansion in skilled verticals and a return to growth in our general on-demand business as our strategy takes hold in a meaningful way. Behind this performance is a clear set of strategic priorities we have been steadily advancing across the business. Our focus is straightforward, strengthening our sales model, expanding in attractive markets, and driving efficiency through technology and disciplined operations to deliver sustainable, profitable growth. Strengthening our sales function continues to be a top priority, and we are seeing positive momentum with the improved trends across our portfolio, including a return to growth in our on-demand business. We have transitioned our on-demand operating model to a more effective, territory-based structure and invested in sales resources throughout the business to expand our reach in priority markets. We continue to strategically increase sales capacity to enable more targeted, localized sales strategies and deeper client engagement. Together, these actions are strengthening execution and positioning us to drive further scalable growth. Enterprise-wide partnerships and cross-selling initiatives are creating a practical growth advantage. Our strategic partnership program continues to open new client channels with a strong multi-brand pipeline, while greater collaboration across our enterprise is driving more cross-selling opportunities to deepen relationships and expand our business with existing clients. These efforts are allowing us to better leverage the full breadth and strength of our workforce solutions to support continued growth. Our strategic focus on attractive end-market expansion continues to deliver strong results. We are capturing demand in skilled verticals, supported by our strong market position and deep expertise. Our revenue in the energy sector nearly doubled, marking a fifth consecutive quarter of growth, while our commercial driver business grew for the 10th consecutive quarter. This sustained growth speaks to our success capturing share in target markets with powerful growth drivers that play to our strengths. We see additional opportunity ahead as structural labor shortages and growing secular forces signal further growth potential, especially as we expand into adjacent subsectors like data centers and energy storage facilities. As we pursue more resilient, higher-value demand, the government and healthcare verticals represent attractive long-term growth opportunities to further diversify our business. We are making meaningful progress in the government sector as we continue to build momentum and expand our market share. In the U.S. healthcare market, we are thoughtfully scaling as we leverage our deep expertise, recruitment agility, and sophisticated technology to capture sustained demand. While advancing our strategic priorities for top-line growth, we are equally focused on delivering improved profitability. We are operating with discipline, managing costs, driving efficiencies, and leveraging technology to scale. These efforts are producing results as we reduced total operating costs, even as revenue grew double digits for the quarter, and all 3 segments delivered increased profitability with expanded margins. This improved operating leverage, combined with continued cost discipline, positions us well for sustainable margin expansion as we advance our growth strategies. Our portfolio of proprietary technology platforms is a key enabler of our ability to drive efficiency and extend our reach. We continue to enhance our digital ecosystem with AI-powered features across the talent life cycle, allowing us to connect people and work with speed, precision, and transparency. Continued innovation and advancement of our digital transformation remains a priority, positioning us to deliver greater value to the customers and talent we serve with a differentiated experience while supporting operational efficiency as we accelerate growth. The progress we are seeing today reflects our disciplined execution of our strategy, and while we are encouraged by the results, there is still more work ahead. We remain committed to realizing long-term, sustainable value for our shareholders, and we are confident our strategic plan to enhance our sales model, expand our share in attractive end markets, and unlock efficiencies with technology and operational excellence positions us well to capitalize on the growth opportunities ahead. I will now pass the call over to Carl, who will share further details around our financial results and outlook. Carl Schweihs: Thank you, Taryn. Total revenue for the quarter was $443 million, up 12% and exceeding our outlook range due to outperformance of our skilled businesses. Our teams continue to capture share in high-demand skilled verticals, delivering a fifth consecutive quarter of double-digit growth. As demand for skilled trades remains strong, we are encouraged to see broader demand trends continue to stabilize and our strategic focus taking hold with our on-demand business returning to growth this quarter and driving solid momentum as we enter the back half of the year. Gross margin was 20.7% for the quarter, down from 23.6% in the prior year period, primarily due to the known workers' compensation and government subsidy benefits in the prior year, as well as anticipated changes in revenue mix. You may recall that last year's gross margin benefited from a significant reduction in workers' compensation costs due to favorable development of prior year reserves. As expected, that degree of favorability did not repeat this year. The prior year margin also included a non-recurring government subsidies benefit of $3 million. The revenue mix impact stems from outsized growth in PeopleReady energy work. As a reminder, the underlying margin for energy work is consistent with other large PeopleReady accounts, but the pass-through travel costs involved result in lower reported gross margin. We successfully reduced SG&A by 7% while revenue grew 12% for the quarter, demonstrating improved operating leverage and our continued focus on delivering enhanced profitability. We've made significant progress and continue to effectively manage costs, drive efficiencies, and create greater flexibility to scale. This operational discipline positions us well to deliver strong incremental margins as industry demand improves and we continue to advance our growth initiatives. We reported a net loss of $3 million this quarter, which included a $3 million non-cash write-down of our Tacoma headquarters as a result of the challenging commercial real estate market. Our results also included a small amount of income tax expense primarily associated with our foreign operations and essentially 0 income tax benefits on U.S. operations due to the valuation allowance in effect on our U.S. deferred tax assets. As a reminder, the asset write-down and valuation allowance have no impact on our operations or liquidity. Adjusted net income was $2 million, compared to a loss of $2 million in the prior year. And adjusted EBITDA was $11 million for the quarter, up from $3 million in the prior year. Now let's turn to our segments. PeopleReady revenue grew 23%, largely driven by outperformance in the energy vertical. Revenue in the energy sector nearly doubled this quarter as we continue to capture share in this growing market. While demand in skilled verticals has continued to rise, we were also encouraged to see our on-demand business return to growth this quarter. These improved trends in our on-demand business speak to the momentum building behind our growth strategy as we continue to invest in sales resources and expand our market reach. Despite the prior year benefiting from significant favorability in workers' compensation adjustments, PeopleReady's segment profit margin was up 260 basis points year-over-year, driven by targeted cost actions and improved operating leverage as revenue increased. PeopleManagement revenue was flat to the prior year, as growth in commercial driving services was offset by lower onsite volumes. Our commercial driver business continued to outperform the broader market, leveraging strong client relationships and deep expertise to deliver its 10th consecutive quarter of growth. While onsite client volumes declined for the quarter, trends improved each month with a return to growth in June as new business wins and customer expansions built momentum, positioning the business well entering the back half of the year. PeopleManagement segment profit margin was up 60 basis points due to disciplined cost management actions to drive improved efficiencies and greater scalability. PeopleSolutions revenue declined 5% as broader market conditions continued to curb hiring trends. While hiring volumes remain subdued, we are adding new clients and expanding existing relationships, particularly in higher-skilled roles and growing in markets with long-term secular tailwinds. We were encouraged to see signs of stabilization with improved trends as we exited the quarter, along with growing momentum in new business, positioning us well to accelerate growth as client hiring volumes return. PeopleSolutions segment profit margin returned to double digits this quarter, up 510 basis points from the prior year, driven by deliberate cost actions to deliver efficiencies and improve profitability. Now let's turn to the balance sheet. We finished the quarter with $23 million in cash, $82 million of debt, and $56 million unused on our borrowing base, resulting in total liquidity of $79 million. During the quarter, stronger-than-anticipated revenue growth drove an increase in working capital of $22 million, while our expanded profitability led to an improved leverage ratio, demonstrating the strength of our operating model and driving enhanced financial flexibility. We remain committed to managing a strong liquidity position and financial foundation to ensure we are well positioned to capitalize on growth opportunities ahead. Looking ahead to the 3rd quarter, we expect revenue growth of 7% to 11% year-over-year, as we continue to build momentum with improved trends across all 3 segments and sustained growth in our skilled businesses. We expect steady sequential gross margin and disciplined cost management to continue driving improved profitability. Additional information on our outlook can be found in our earnings presentation shared on our website today. Before we open the call up for questions, I want to turn it back over to Taryn for some closing remarks. Taryn Owen: Thank you, Carl. As you've heard today, we are seeing meaningful progress across each of our strategic pillars, translating into improved results. We are strengthening our sales model, expanding in attractive markets, and driving efficiency through technology and disciplined operations to deliver sustainable, profitable growth. As we continue to execute with focus and consistency, I am confident in our path forward and our team's ability to deliver results and advance our mission to connect people and work. This concludes our prepared remarks. Operator, please open the call now for questions. Operator: [Operator Instructions] Our first question is from Marc Riddick with Sidoti & Company. Marc Riddick: So there's certainly some encouraging things here to talk about, but I was wondering if maybe you could talk a little bit about the overall sort of demand environment and what you're seeing there, whether you kind of feel as though we're at that positive inflection point at this point, or do you sense it's a little -- maybe a little too early to call that a trend? I think in your prepared remarks, there's some commentary around monthly trends improving in PeopleManagement, but maybe you could talk a little bit about the demand front and maybe talk a bit about how you're feeling about that. Taryn Owen: Thank you for the question, Marc. We are encouraged by what we're seeing in the market, but more importantly, our strategy is driving results. As we mentioned, our core on-demand business returned to growth in the second quarter, driven by our sales territory strategy. PeopleReady on-demand exited the quarter with all 4 regions growing, and a majority of our territories are now in growth for the year. We're also seeing our in-market strategy take hold. Energy revenue nearly doubled this quarter as we continue to capture share in high-value verticals that play to our strengths. Our deliberate focus on our strategic priorities and disciplined execution positions us really well to continue taking share as the market conditions improve. Carl Schweihs: Just to build on that, Marc, a few data points. What's most encouraging is that the recovery is broad-based, spanning many geographies, rather than what we talked about in Q1, with a few isolated markets that we saw previously. The strength was really led by our West region and California, with Florida and Texas improving as well, really a broad set of our largest markets all moving in the right direction. And most importantly, we delivered it profitably, double-digit top-line growth alongside expanded margins in all 3 segments and meaningfully higher adjusted EBITDA. Marc Riddick: Excellent. And then maybe you could talk a bit about the pacing of energy there. Things have doubled over the quarter, but was that consistent through the quarter? Did it accelerate? How should we think about the pacing of that, and then how you see things currently? Carl Schweihs: Yes, thanks for that, Marc. Just as we think about PeopleReady revenue trends, they did improve throughout the quarter, really driven by that continued strength in our skilled businesses as well as that return to growth in on-demand. I'd say PeopleReady exited Q1 at plus 16% and then accelerated to exit Q2 at plus 30%. Really, kind of, monthly trends were improving throughout the quarter. Within PeopleManagement, I'd say it followed a similar improving trajectory. We moved from about minus 7% exiting Q1 to plus 4% exiting Q2, with steady improvements within the monthly trends. July trends, I'd say, have been similar to how we exited the quarter, and our outlook reflects our typical seasonal build in Q3. Taryn Owen: And, Marc, if I could just build a little bit on energy, we are seeing strong interest in data centers and that's part of a broader trend. Energy overall continues to be one of our fastest-growing verticals, and that strength is showing up across all 3 of our segments, not just one part of the business, which speaks to how deep our presence in this space has become. As a matter of fact, we just signed a new deal this week with a large battery storage provider through our PeopleScout business, which reflects the momentum that we have in this area. Marc Riddick: Okay, great. And then maybe 1 more, if I could. In the prior quarter, you talked about the benefits of the strategic partnership and the activities. If I remember correctly, there was about $11 million in annualized business in the 1st quarter. And I think you talked about some new relationships there. Maybe you could talk a bit about how those are going and if there are any additional activities there with those partnerships. Taryn Owen: Yes, thank you for the question. They're progressing very well. Strategic channel partnerships have become an important way that we have extended our sales reach to accelerate growth. Our partnership with the leading group purchasing organization that we spoke about previously is one example of that strategy within a broader strategy. That partnership is continuing to build momentum. We're encouraged by the pipeline that we're filling, which we expect will contribute to our growth going forward. Despite the long-term nature of these partnerships, they are already producing results. The wins we highlighted previously are now converting to revenue. As you can see that show up in our stronger results this quarter. And then, finally, another example of our strategic partnership approach is the landmark UK Armed Forces engagement that we announced previously. And just as a reminder, that work is ramping now, and we expect it to reach full value in 2027. Marc Riddick: Okay, great. And then last 1 for me. I was wondering if you touched a little bit in your prepared remarks around digital transformation adoption for clients. And maybe you could talk a little bit about what you saw through the quarter, whether it was through JobStack or sort of where those activities lie, given a bit of uncertain macro, but maybe you can talk a little bit about what you saw with client activity and both digital demand, AI-type adoption. Taryn Owen: Yes, I'll get us started here. Thanks for the question. We're leaning into AI across our proprietary platforms. So that's JobStack, Affinix, and StaffTrack. And it's showing up in our metrics with an all-time high time-to-fill, fewer manual steps, and a more consistent experience for our clients and our talent that we're serving. We are a people business at our core, so for us this is about productivity enablement, helping our teams work more efficiently and effectively, which again is showing up. You know, I would say what sets us apart here, Marc, from a fragmented field of regional and digital-only players, is the combination that we have of our national network and local presence combined with the digital tools and support that those tools provide to our teams. Operator: Our next question is from Kartik Mehta with Northcoast Research. Kartik Mehta: Carl or Taryn, maybe just looking at the operating leverage as we look over the next couple of quarters, I think you've been able to leverage SG&A even though you're investing in sales. And I'm wondering, as you look at the next couple of quarters, what you think incremental margins for the business could be. Carl Schweihs: Yes, thanks for the question, Kartik. I will say, look, we're in our fourth consecutive quarter of growth. We continue to expand this quarter, double-digit top-line growth, and we've continued to decline from an SG&A perspective. We're guiding to Q3 to be very similar. I'd say, we continue to remain very disciplined in managing costs. It's core to how we operate. Our ongoing work to optimize our fixed cost base as well as enhance the digital capabilities that Taryn just mentioned, they give us room for additional revenue growth while protecting our margins. So we'll continue to invest selectively where we see some opportunities to drive incremental growth. And as demand improves, we believe that lean cost structure positions us for meaningfully incremental margins going forward. I'd also say if you just look at kind of the drop-through rates, i.e. the percentage of adjusted EBITDA that we get from our gross margin dollars, steady improvement here in Q2 and expect that to expand in Q3 and going forward. Kartik Mehta: Carl, then maybe just as you look at the business segments, kind of, maybe your expectations for the third quarter? I know you gave some color on a couple exit rates, so I'm wondering if you'd give me your perspective on what your expectations are for the quarter for your segments. Carl Schweihs: Yes. So, we have -- we tightened our range here a little bit from plus 7% to plus 11%, so feel good about kind of where our guide is from an overall perspective. That includes, kind of, and I'll use ranges here for our PeopleReady business perspective, from plus 11% to plus 15%, PeopleManagement from plus 3% to plus 8%, and PeopleSolutions from minus 6% to plus 3%. You know, we feel good about, kind of where we've been able to perform, and we always look to outperform or go to the upper end of our guidance. Operator: Thank you. There are no further questions at this time. I'd like to hand the floor back over to Taryn Owen for any closing comments. Taryn Owen: Thank you, Operator, and thank you, everyone, for joining us today. I want to take this opportunity to thank the entire TrueBlue team for their tremendous efforts executing on our enterprise strategy and their commitment to advancing our mission to connect people and work. We look forward to speaking with you at upcoming investor events and on our next quarterly call. If you have any questions, please don't hesitate to reach out. Thank you. Operator: This concludes today's conference. You may disconnect your lines at this time. Thank you again for your participation. Before you buy stock in TrueBlue, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and TrueBlue wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $411,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,335,252!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 11, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. TrueBlue (TBI) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in TrueBlue, Inc.? Here are five stocks we like better. TrueBlue’s second-quarter revenue rose 12% to $443 million, exceeding guidance on strength in skilled labor, particularly energy and commercial driving. Adjusted EBITDA increased to $11 million from $3 million a year earlier, while the company reported a $3 million net loss largely due to a non-cash headquarters write-down. PeopleReady revenue grew 23%, with energy revenue nearly doubling, while PeopleManagement was flat and PeopleSolutions declined 5%. Management said on-demand staffing returned to growth, demand improved across regions, and cost reductions helped offset lower gross margins. TrueBlue expects third-quarter revenue growth of 7% to 11% and ended the quarter with $79 million in total liquidity. The company is also expanding sales efforts and deploying AI across its workforce platforms to improve operating efficiency. TrueBlue (NYSE:TBI) reported second-quarter revenue growth that exceeded its outlook, driven by continued strength in skilled labor verticals and a return to growth in its on-demand business. Revenue rose 12% year over year to $443 million, Chief Financial Officer Carl Schweihs said, with results surpassing the company’s guidance range because of outperformance in its skilled businesses. Adjusted EBITDA increased to $11 million from $3 million a year earlier, while adjusted net income was $2 million, compared with an adjusted net loss of $2 million in the prior-year quarter. → No Hangover: Revisiting Microsoft One Week After Earnings The company reported a net loss of $3 million for the quarter, including a $3 million non-cash write-down of its Tacoma headquarters tied to commercial real estate market conditions. Schweihs said the write-down and a valuation allowance on U.S. deferred tax assets did not affect operations or liquidity. President and Chief Executive Officer Taryn Owen said TrueBlue’s strategy is centered on strengthening its sales model, expanding in attractive end markets and improving operating efficiency through technology and disciplined operations. → MarketBeat Week in Review – 08/03 - 08/07 The company’s energy-sector revenue nearly doubled during the quarter, marking its fifth consecutive quarter of growth in that vertical. Its commercial driver business also posted its 10th consecutive quarter of growth. Owen said the company sees further opportunity in adjacent sectors including data centers and energy-storage facilities. During the question-and-answer session, she said TrueBlue signed a new agreement during the week of the call with a large battery-storage provider through its PeopleScout business. → Why the Landlord of the AI Boom Could Outlast the Chipmakers TrueBlue also cited government and healthcare as longer-term growth opportunities. Owen said the company is building momentum in government workforce solutions and is scaling its U.S. healthcare operations by drawing on recruitment capabilities and technology. PeopleReady revenue increased 23% from a year earlier, largely due to growth in energy work. The segment’s profit margin increased 260 basis points despite a favorable workers’ compensation adjustment in the prior-year period that did not recur this year. PeopleManagement revenue was unchanged from the prior-year quarter. Growth in commercial driving services offset lower on-site client volumes. Schweihs said on-site volumes improved each month during the quarter and returned to growth in June as new business wins and client expansions gained traction. PeopleManagement’s profit margin rose 60 basis points. PeopleSolutions revenue declined 5% as broader market conditions continued to limit hiring activity. However, management said it saw improving trends exiting the quarter, as well as new-client activity and expansion with existing customers in higher-skilled roles and end markets with long-term growth drivers. Segment profit margin returned to double digits, rising 510 basis points from the prior year. Companywide gross margin was 20.7%, down from 23.6% a year earlier. Schweihs attributed the decline primarily to the absence of favorable workers’ compensation reserve development and a $3 million non-recurring government subsidy benefit recorded in the prior-year period. He also cited revenue mix, as energy work within PeopleReady includes pass-through travel costs that reduce reported gross margin. At the same time, TrueBlue reduced selling, general and administrative expenses by 7% while revenue increased 12%. Management said the lower cost base and ongoing digital investments should support stronger incremental margins as demand improves. Management said demand trends improved broadly during the quarter. Owen said PeopleReady’s on-demand business returned to growth, with all four regions growing as the quarter ended and a majority of territories growing for the year. Schweihs said the recovery had expanded beyond isolated markets seen earlier in the year. He pointed to strength in the West region and California, along with improvement in Florida and Texas. PeopleReady revenue growth accelerated from 16% at the end of the first quarter to 30% at the end of the second quarter, he said. PeopleManagement trends also improved, moving from a 7% decline exiting the first quarter to 4% growth exiting the second quarter. July trends were similar to those at the end of the second quarter, according to Schweihs. Owen said TrueBlue has shifted its on-demand operating model to a territory-based structure and increased sales resources to support localized sales efforts and client engagement. The company is also using strategic channel partnerships and cross-selling among its brands to broaden its reach. Management said a partnership with a group purchasing organization is producing revenue from previously announced wins, while a British Armed Forces engagement is ramping and is expected to reach full value in 2027. For the third quarter, TrueBlue forecast year-over-year revenue growth of 7% to 11%. Its outlook calls for PeopleReady revenue growth of 11% to 15%, PeopleManagement growth of 3% to 8%, and PeopleSolutions revenue ranging from a 6% decline to 3% growth. The company expects sequential gross margin to remain steady and cost discipline to support improved profitability. Schweihs said the outlook incorporates the company’s typical seasonal revenue build during the third quarter. TrueBlue ended the quarter with $23 million in cash, $82 million in debt and $56 million available under its borrowing base, for total liquidity of $79 million. Working capital increased by $22 million during the quarter as revenue growth exceeded expectations, while the company’s leverage ratio improved with higher profitability. Owen said the company continues to deploy artificial intelligence across its JobStack, Affinix and Stafftrack platforms to reduce manual work and improve the speed and consistency of matching talent with client needs. TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company's offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management. TrueBlue's primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "TrueBlue Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Release Date: August 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. TrueBlue Inc (NYSE:TBI) delivered strong second-quarter results with double-digit top-line growth of 12%, exceeding its outlook. The company's on-demand business returned to growth, with all four regions expanding and a majority of territories growing for the year. Revenue in the energy sector nearly doubled, marking the fifth consecutive quarter of growth, and the commercial driver business grew for the 10th straight quarter. All three segments reported increased profitability with expanded margins, and adjusted EBITDA rose to $11 million from $3 million in the prior year. SG&A was reduced by 7% while revenue grew 12%, demonstrating improved operating leverage and cost discipline. The company is making progress in strategic partnerships, with wins converting to revenue and a strong pipeline, including a new deal with a large battery storage provider. Management expects continued momentum with Q3 revenue growth guidance of 7% to 11% year-over-year. Gross margin declined to 20.7% from 23.6% in the prior year, primarily due to non-recurring workers' compensation benefits and government subsidies, as well as revenue mix changes. The company reported a net loss of $3 million for the quarter, including a $3 million non-cash writedown of its Tacoma headquarters due to the challenging commercial real estate market. People Solutions revenue declined 5% as broader market conditions continued to curb hiring trends. The company faces a valuation allowance on US deferred tax assets, resulting in essentially zero income tax benefit on US operations. Working capital increased by $22 million due to stronger-than-anticipated revenue growth, impacting cash flow. People Management revenue was flat, with lower on-site volumes offsetting growth in commercial driving services. The company noted that the prior year's gross margin benefited from favorable workers' compensation reserve development and a $3 million government subsidy, which did not repeat this year. Warning! GuruFocus has detected 3 Warning Sign with TBI. Is TBI fairly valued? Test your thesis with our free DCF calculator. Q: Can you discuss the overall demand environment and whether you believe we are at a positive inflection point, or is it too early to call that a trend? A: Taron Owen, President and CEO: We are encouraged by what we're seeing in the market, but more importantly, our strategy is driving results. Our core on-demand business returned to growth in Q2, with all four regions growing and a majority of territories in growth for the year. The recovery is broad-based, spanning many geographies, led by our West region and California, with Florida and Texas improving as well. We delivered this profitably with double-digit top-line growth and expanded margins in all three segments. Q: Can you talk about the pacing of energy revenue growth during the quarter and how you see it currently? A: Carl Schweiss, CFO: People Ready revenue trends improved throughout the quarter, exiting Q1 at +16% and accelerating with improving monthly trends. People Management moved from about -7% exiting Q1 to +4% exiting Q2. July trends have been similar to how we exited the quarter. Taron Owen added that energy continues to be one of our fastest-growing verticals, with strong interest in data centers, and we just signed a new deal with a large battery storage provider through our PeopleScout business. Q: How are the strategic partnerships progressing, and are there any additional activities with those partnerships? A: Taron Owen, President and CEO: Strategic channel partnerships are progressing very well and have become an important way to extend our sales reach. Our partnership with a leading group purchasing organization is building momentum with a strong pipeline. The wins we highlighted previously are now converting to revenue, which shows up in our stronger results this quarter. Our landmark UK Armed Forces engagement is ramping now and expected to reach full value in 2027. Q: Can you talk about digital transformation adoption and what you saw through the quarter with client activity and AI adoption? A: Taron Owen, President and CEO: We are leaning into AI across our proprietary platformsJobStack, Affinix, and StaffTrackwhich is showing up in our metrics with all-time high time-to-fill and fewer manual steps. What sets us apart is the combination of our national network and local presence combined with digital tools that support our team. This is about productivity enablement, helping our teams work more efficiently and effectively. Q: Looking at operating leverage over the next couple of quarters, what do you think incremental margins for the business could be? A: Carl Schweiss, CFO: We are in our fourth consecutive quarter of growth with double-digit top-line growth and continued SG&A decline. We remain very disciplined in managing costs, optimizing our fixed cost base, and enhancing digital capabilities. This gives us room for additional revenue growth while protecting margins. As demand improves, our lean cost structure positions us for meaningfully incremental margins going forward, with steady improvement in drop-through rates expected to expand in Q3. Q: What are your expectations for the third quarter by business segment? A: Carl Schweiss, CFO: We tightened our overall guidance range to +7% to +11% year-over-year. By segment, we expect People Ready from +11% to +15%, People Management from +3% to +8%, and People Solutions from -6% to +3%. We feel good about our performance and always look to outperform or reach the upper end of our guidance. Q: Can you provide more detail on the gross margin decline and the factors driving it? A: Carl Schweiss, CFO: Gross margin was 20.7% for the quarter, down from 23.6% in the prior year, primarily due to known workers' compensation and government subsidy benefits in the prior year, as well as anticipated changes in revenue mix. Last year's margin benefited from a significant reduction in workers' compensation costs due to favorable development of prior year reserves, which did not repeat. The revenue mix impact stems from outsized growth in People Ready energy work, which involves pass-through travel costs resulting in lower reported gross margin. Q: Can you discuss the performance of the People Management segment and the trends in on-site volumes? A: Carl Schweiss, CFO: People Management revenue was flat to the prior year as growth in commercial driving services was offset by lower on-site volumes. Our commercial driver business delivered its 10th consecutive quarter of growth. While on-site client volumes declined for the quarter, trends improved each month with a return to growth in June as new business wins and customer expansions built momentum, positioning the business well for the back half of the year. Q: What is driving the improved profitability in the People Solutions segment despite revenue decline? A: Carl Schweiss, CFO: People Solutions revenue declined 5% as broader market conditions continue to curb hiring trends. However, segment profit margin returned to double-digits, up 510 basis points from the prior year, driven by deliberate cost actions to deliver efficiencies and improve profitability. We are adding new clients and expanding existing relationships, particularly in higher-skilled roles, with signs of stabilization and improved trends as we exited the quarter. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved double-digit top-line growth driven by a return to growth in the general on-demand business and continued expansion in skilled verticals. Transitioned the on-demand operating model to a territory-based structure, which management credits for the return to growth across all four regions by quarter-end. Revenue in the energy sector nearly doubled, marking the fifth consecutive quarter of growth as the company captures share in high-value subsectors like data centers and battery storage. Improved operating leverage was achieved by reducing SG&A expenses by 7% despite 12% revenue growth, reflecting disciplined cost management and digital efficiency. Strategic channel partnerships and cross-selling initiatives are converting a multi-brand pipeline into revenue, expanding reach beyond traditional sales channels. Management attributes the outperformance in skilled trades to structural labor shortages and secular tailwinds that favor their deep expertise in commercial driving and energy. Q3 revenue growth is projected between 7% and 11%, assuming a typical seasonal build and continued momentum in skilled business segments. Management expects steady sequential gross margins and continued expansion of adjusted EBITDA margins as the lean cost structure provides high incremental drop-through. Strategic expansion into adjacent high-value markets, specifically government and healthcare verticals, is planned to further diversify the portfolio and capture resilient demand. The landmark UK Armed Forces engagement is currently in the ramping phase, with management expecting it to reach its full value contribution in 2027. Ongoing digital transformation, including AI-powered features in JobStack and Affinix, is expected to further reduce manual steps and improve time-to-fill metrics. Gross margin declined to 20.7% from 23.6% due to the non-recurrence of prior-year workers' compensation reserve benefits and government subsidies. Revenue mix shifts, particularly the growth in energy work, impacted reported gross margins due to lower-margin pass-through travel costs. A $3 million non-cash write-down was taken on the Tacoma headquarters, reflecting current challenges in the commercial real estate market. A valuation allowance remains on U.S. deferred tax assets, resulting in essentially zero income tax benefits for U.S. operations despite the reported net loss. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management characterized the recovery as broad-based across geographies, specifically noting strength in the West region, California, Florida, and Texas. The return to growth in the on-demand business was highlighted as a key indicator that the territory-based sales strategy is effectively taking hold. Energy revenue growth accelerated throughout the quarter, with PeopleReady exiting Q2 at a 30% growth rate compared to 16% at the end of Q1. Management identified data centers and a new deal with a large battery storage provider as specific catalysts for sustained momentum in this sector. Management expects to maintain a lean fixed-cost base, allowing for meaningful margin expansion as industry demand improves. The company is targeting improved 'drop-through' rates, defined as the percentage of adjusted EBITDA derived from gross margin dollars.

TrueBlue (TBI) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of a loss of $0.1 per share. This compares to a loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +160.00%. A quarter ago, it was expected that this blue-collar temporary staffing company would post a loss of $0.45 per share when it actually produced a loss of $0.41, delivering a surprise of +8.89%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. TrueBlue, which belongs to the Zacks Staffing Firms industry, posted revenues of $443 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.45%. This compares to year-ago revenues of $396.3 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. TrueBlue shares have added about 65.7% since the beginning of the year versus the S&P 500's gain of 11%. While TrueBlue has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for TrueBlue was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.21 on $452.89 million in revenues for the coming quarter and -$0.09 on $1.7 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Staffing Firms is currently in the top 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Kelly Services (KELYA), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 6. This staffing company is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of -55.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Kelly Services' revenues are expected to be $1.01 billion, down 8.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TrueBlue, Inc. (TBI) : Free Stock Analysis Report Kelly Services, Inc. (KELYA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

TACOMA, Wa., August 04, 2026--(BUSINESS WIRE)--TrueBlue (NYSE:TBI) today announced its second quarter results for 2026. Second Quarter 2026 Financial Highlights Revenue of $443 million, up 12 percent compared to the prior year period Net loss of $3.4 million compared to net loss of $0.2 million in the prior year period Cash of $23 million, debt of $82 million and $56 million of unused borrowing base, for total liquidity of $79 million at period end Commentary "We delivered a strong second quarter, exceeding expectations and continuing to build momentum through disciplined execution," said Taryn Owen, President and CEO of TrueBlue. "Our results reflect continued strength in skilled verticals and an encouraging return to growth in our core on-demand business, contributing to overall double-digit revenue growth and improved profitability." Ms. Owen continued, "We are strengthening our market position, capturing demand in attractive, high-growth end markets, and unlocking efficiencies that position us well to capitalize on the growth opportunities ahead. We remain confident in our path to deliver long-term sustainable value for our shareholders." Results Second quarter revenue was $443 million, a 12 percent increase compared to the prior year period. Net loss per diluted share was $0.11 compared to $0.01 in the prior year period. Adjusted net income1 per diluted share was $0.06 compared to adjusted net loss per diluted share of $0.07 in the prior year period. 2026 Outlook TrueBlue is providing certain forward-looking information to help investors form their estimates, which can be found in the quarterly earnings presentation filed today. Management will discuss second quarter 2026 results on a webcast at 2:00 p.m. PT (5:00 p.m. ET), today, Tuesday, Aug. 4, 2026. The quarterly earnings presentation and webcast can be accessed on the Investor Relations section of the TrueBlue website: investor.trueblue.com. About TrueBlue TrueBlue (NYSE: TBI) is a leading provider of specialized workforce solutions. As The People Company®, we put people first–advancing our mission to connect people and work while delivering smart, scalable solutions that help businesses grow and communities thrive. Since our founding, TrueBlue has connected more than 10 million people with work and served over 3 million clients across a variety of industries. Powered by proprietary, digitally enabled platforms and decades of expertise, our brands–PeopleReady, PeopleScout, Staff Management | SMX, Centerline, SIMOS, and Healthcare Staffing Professionals–provide a full spectrum of flexible staffing, workforce management, and recruitment solutions that bring precision, speed and scale to the changing world of work. Learn more at www.trueblue.com. 1 Refer to the financial statements accompanying this release for more information regarding non-GAAP terms. Forward-looking statements and non-GAAP financial measures This document contains forward-looking statements relating to our plans and expectations including, without limitation, statements regarding the future performance and operations of our business, expectations regarding market expansion and stabilization in demand, and operational efficiencies, including from our digital investments, all of which are subject to risks and uncertainties. Such statements are based on management’s expectations and assumptions as of the date of this release and involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in our forward-looking statements including: (1) national and global economic conditions, which can be negatively impacted by factors such as rising interest rates, inflation, changes in government policies, political instability, epidemics and global trade uncertainty, (2) our ability to maintain profit margins, (3) our ability to attract and retain clients, (4) factors relating to any unsolicited offer ("Offer") to purchase the shares of the Company, actions taken by the Company or its shareholders in response to such an Offer, and the effects of such an Offer, or the completion or failure to complete an Offer, on the Company’s business, or other developments involving such an Offer; (5) actions of activist investors including costs and expenses incurred to address activism-related matters and the distraction of management from business operations in responding to those actions, including any proposals or a proxy contest for the election of directors at our annual meeting of shareholders; (6) our ability to access sufficient capital to finance our operations, including our ability to comply with covenants contained in our revolving credit facility, (7) our ability to successfully execute on business strategies and further digitalize our business model, (8) our ability to attract sufficient qualified candidates and employees to meet the needs of our clients, (9) new laws, regulations, and government incentives that could affect our operations or financial results, (10) any reduction or change in tax credits we utilize, including the Work Opportunity Tax Credit, (11) our ability to successfully integrate acquired businesses, and (12) the timing and amount of common stock repurchases, if any, which will be determined at management’s discretion and depend upon several factors, including market and business conditions, the trading price of our common stock and the nature of other investment opportunities. Other information regarding factors that could affect our results is included in our Securities and Exchange Commission ("SEC") filings, including the Company’s most recent reports on Forms 10-K and 10-Q, copies of which may be obtained by visiting our website at www.trueblue.com under the Investor Relations section or the SEC’s website at www.sec.gov. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Any other references to future financial estimates are included for informational purposes only and subject to risk factors discussed in our most recent filings with the SEC. Any comparisons made herein to other periods are based on a comparison to the same period in the prior year unless otherwise stated. In addition, we use several non-GAAP financial measures when presenting our financial results in this document. Please refer to the reconciliations between our U.S. GAAP and non-GAAP financial measures in the appendix to this document and on our website at www.trueblue.com under the Investor Relations section for additional information on both current and historical periods. The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP, and may not be comparable to similarly titled measures of other companies. TRUEBLUE, INC.NON-GAAP FINANCIAL MEASURES AND NON-GAAP RECONCILIATIONS In addition to financial measures presented in accordance with U.S. GAAP, we monitor certain non-GAAP key financial measures. The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP, and may not be comparable to similarly titled measures of other companies. View source version on businesswire.com: https://www.businesswire.com/news/home/20260804575222/en/ Contacts Investor [email protected]

ManpowerGroup (MAN) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +3.13%. A quarter ago, it was expected that this staffing company would post earnings of $0.5 per share when it actually produced earnings of $0.51, delivering a surprise of +2%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Manpower, which belongs to the Zacks Staffing Firms industry, posted revenues of $4.86 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.76%. This compares to year-ago revenues of $4.52 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Manpower shares have added about 31.3% since the beginning of the year versus the S&P 500's gain of 10.6%. While Manpower has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Manpower was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.04 on $4.75 billion in revenues for the coming quarter and $3.66 on $18.78 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Staffing Firms is currently in the bottom 21% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. TrueBlue (TBI), another stock in the same industry, has yet to report results for the quarter ended June 2026. This blue-collar temporary staffing company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of -42.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. TrueBlue's revenues are expected to be $416.16 million, up 5% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ManpowerGroup Inc. (MAN) : Free Stock Analysis Report TrueBlue, Inc. (TBI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

TACOMA, Wash., May 05, 2026--(BUSINESS WIRE)--TrueBlue (NYSE:TBI) today announced its first quarter results for 2026. First Quarter 2026 Financial Highlights Revenue of $399 million, up 8 percent compared to the prior year period 7 percent organic growth excluding $4 million of inorganic revenue from the January 2025 HSP acquisition Net loss of $20 million compared to net loss of $14 million in the prior year period Includes a non-cash goodwill impairment charge of $4 million SG&A expense improved 8 percent to $87 million compared to $95 million in the prior year period Adjusted EBITDA1 improved to -$3 million compared to -$4 million in the prior year period Cash of $24 million, debt of $74 million and $36 million unused on our borrowing base, for total liquidity of $60 million at period end Commentary "We delivered first quarter results toward the high end of expectations, driven by continued expansion in skilled verticals alongside stabilizing demand trends and sustained operational and cost discipline," said Taryn Owen, President and CEO of TrueBlue. "We are making meaningful progress advancing our long-term growth strategy and remain focused on top-line growth with enhanced profitability." Ms. Owen continued, "We are leveraging an enhanced sales model to strengthen and expand our market position while unlocking technological and operational efficiencies to deliver sustainable, profitable growth. Our initiatives are taking hold, driving improved performance and positioning us to realize the significant growth opportunities that lie ahead." Results First quarter revenue was $399 million, an 8 percent increase compared to the prior year period. Net loss per diluted share was $0.66 compared to net loss per diluted share of $0.48 in the prior year period. Adjusted net loss1 per diluted share was $0.41 compared to adjusted net loss per diluted share of $0.40 in the prior year period. 2026 Outlook TrueBlue is providing certain forward-looking information to help investors form their estimates, which can be found in the quarterly earnings presentation filed today. Management will discuss first quarter 2026 results on a webcast at 2:00 p.m. PT (5:00 p.m. ET), today, Tuesday, May 5, 2026. The quarterly earnings presentation and webcast can be accessed on the Investor Relations section of the TrueBlue website: investor.trueblue.com. About TrueBlue TrueBlue (NYSE: TBI) is a leading provider of specialized workforce solutions. As The People Company®, we put people first–advancing our mission to connect people and work while delivering smart, scalable solutions that help businesses grow and communities thrive. Since our founding, TrueBlue has connected more than 10 million people with work and served over 3 million clients across a variety of industries. Powered by proprietary, digitally enabled platforms and decades of expertise, our brands–PeopleReady, PeopleScout, Staff Management | SMX, Centerline, SIMOS, and Healthcare Staffing Professionals–provide a full spectrum of flexible staffing, workforce management, and recruitment solutions that bring precision, speed and scale to the changing world of work. Learn more at www.trueblue.com. 1 Refer to the financial statements accompanying this release for more information regarding non-GAAP terms. Forward-looking statements and non-GAAP financial measures This document contains forward-looking statements relating to our plans and expectations including, without limitation, statements regarding the future performance and operations of our business, expectations regarding market expansion and stabilization in demand, and operational efficiencies, including from our digital investments, all of which are subject to risks and uncertainties. Such statements are based on management’s expectations and assumptions as of the date of this release and involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in our forward-looking statements including: (1) national and global economic conditions, which can be negatively impacted by factors such as rising interest rates, inflation, changes in government policies, political instability, epidemics and global trade uncertainty, (2) our ability to maintain profit margins, (3) our ability to attract and retain clients, (4) factors relating to any unsolicited offer ("Offer") to purchase the shares of the Company, actions taken by the Company or its shareholders in respect to such an Offer, and the effects of such an Offer, or the completion or failure to complete an Offer, on the Company’s business, or other developments involving such an Offer; (5) actions of activist investors including costs and expenses incurred to address activism-related matters and the distraction of management from business operations in responding to those actions, including any proposals or a proxy context for the election of directors at our annual meeting of shareholders; (6) our ability to access sufficient capital to finance our operations, including our ability to comply with covenants contained in our revolving credit facility, (7) our ability to successfully execute on business strategies and further digitalize our business model, (8) our ability to attract sufficient qualified candidates and employees to meet the needs of our clients, (9) new laws, regulations, and government incentives that could affect our operations or financial results, (10) any reduction or change in tax credits we utilize, including the Work Opportunity Tax Credit, (11) our ability to successfully integrate acquired businesses, and (12) the timing and amount of common stock repurchases, if any, which will be determined at management’s discretion and depend upon several factors, including market and business conditions, the trading price of our common stock and the nature of other investment opportunities. Other information regarding factors that could affect our results is included in our Securities and Exchange Commission ("SEC") filings, including the Company’s most recent reports on Forms 10-K and 10-Q, copies of which may be obtained by visiting our website at www.trueblue.com under the Investor Relations section or the SEC’s website at www.sec.gov. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Any other references to future financial estimates are included for informational purposes only and subject to risk factors discussed in our most recent filings with the SEC. Any comparisons made herein to other periods are based on a comparison to the same period in the prior year unless otherwise stated. In addition, we use several non-GAAP financial measures when presenting our financial results in this document. Please refer to the reconciliations between our U.S. GAAP and non-GAAP financial measures in the appendix to this document and on our website at www.trueblue.com under the Investor Relations section for additional information on both current and historical periods. The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP, and may not be comparable to similarly titled measures of other companies. TRUEBLUE, INC. NON-GAAP FINANCIAL MEASURES AND NON-GAAP RECONCILIATIONS In addition to financial measures presented in accordance with U.S. GAAP, we monitor certain non-GAAP key financial measures. The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP, and may not be comparable to similarly titled measures of other companies. 1. RECONCILIATION OF U.S. GAAP NET LOSS TO ADJUSTED NET LOSS AND ADJUSTED NET LOSS PER DILUTED SHARE (Unaudited) 2. RECONCILIATION OF U.S. GAAP NET LOSS TO EBITDA AND ADJUSTED EBITDA (Unaudited) 3. RECONCILIATION OF U.S. GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSE TO ADJUSTED SG&A EXPENSE (Unaudited) View source version on businesswire.com: https://www.businesswire.com/news/home/20260505890672/en/ Contacts Investor Relations [email protected]