TrueBlue Inc (NYSE:TBI)

Q2 2026 TrueBlue Inc Earnings Call Transcript

Aug 4, 2026 / 09:00 PM GMT

Release Date Price: $7.69 (+1.99%)

Transcript 10-Q8-K

Key Points

Positve

TrueBlue Inc (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.

Negative

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.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TBI.N - TrueBlue Inc
Q2 2026 TrueBlue Inc Earnings Call
Aug 04, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the True Blue second quarter 2026 earnings hall.

At this time, all participants are in a list only formal presence if anyone should require operator assistance during the conference, please press 0 on your telephone keypad.

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

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