The 10-second takeaway
For the quarter ended June 28 (Q2), TrueBlue met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share expanded significantly.
Gross margins expanded, operating margins dropped, net margins grew.
TrueBlue tallied revenue of $422.3 million. The eight analysts polled by S&P Capital IQ predicted revenue of $420.3 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $354.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.31. The eight earnings estimates compiled by S&P Capital IQ averaged $0.27 per share. GAAP EPS of $0.31 for Q2 were 19% higher than the prior-year quarter's $0.26 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 26.5%, 10 basis points better than the prior-year quarter. Operating margin was 4.5%, 40 basis points worse than the prior-year quarter. Net margin was 3.0%, 10 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $456.5 million. On the bottom line, the average EPS estimate is $0.48.
Next year's average estimate for revenue is $1.65 billion. The average EPS estimate is $1.13.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 181 members out of 197 rating the stock outperform, and 16 members rating it underperform. Among 62 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 57 give TrueBlue a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TrueBlue is outperform, with an average price target of $23.57.
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