secwatch.observer — SEC 8-K summary
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Issuer:     TrueBlue, Inc. (TBI)
CIK:        0000768899
Form:       8-K
Filed at:   2024-08-05T23:59:59+00:00
Accession:  0000768899-24-000100
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TrueBlue Q2 revenue down 17% to $396M; net loss $105M due to $100M impairment and valuation allowance
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- Revenue $396M vs $476M YoY (-17%); net loss $105M vs $7M loss prior year.
- Includes $45M after-tax goodwill/intangible impairment and $55M deferred tax asset valuation allowance.
- Adjusted EBITDA $1M; adjusted net loss per diluted share $0.35 (vs adjusted net income $0.11 prior).
- Zero debt, cash $26M, $132M borrowing availability; repurchased $7M in shares during Q2.
- CEO cites client caution and economic uncertainty; digital transformation and cost actions underway.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/768899/000076889924000100/0000768899-24-000100-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/768899/000076889924000100/tbi-20240805.htm
  HTML page:      https://secwatch.observer/filing/0000768899-24-000100

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer