BBSI Q4 net income $11.5M ($1.64 EPS); full-year revenue $1.05B, up 10%; declares $0.30 dividend

BARRETT BUSINESS SERVICES INC

2022-FY EPS reported $6.54 revenue$1,054,326,000

Q4 net income $11.5M ($1.64 diluted EPS) vs $10.6M ($1.40) in prior year; revenues $272M, up 6%.
Full-year 2022 net income $47.3M ($6.54 diluted EPS) vs $38.1M ($5.00); revenues $1.05B, up 10%.
Average worksite employees up 6% in Q4 and 8% for full year; gross billings up 8% and 13% respectively.
Board declared quarterly cash dividend of $0.30 per share, payable March 31, 2023 to holders of record March 17, 2023.
CEO cites strong finish and plans to launch health benefits offering nationwide in 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BARRETT BUSINESS SERVICES INC reported the full year ended December 31, 2022 results: revenue $1.05 billion, net income $47.3 million, EPS $6.54 per diluted share. Guidance initiated.

Period: the full year ended December 31, 2022
Revenue: $1.05 billion
Net income: $47.3 million
EPS: $6.54 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Full Year 2022 Financial Summary vs. 2021 • Revenues up 10% to $1.05 billion. • Gross billings up 13% to $7.39 billion. • Average WSEs up 8%. • Net income up to $47.3 million, or $6.54 per diluted share, compared to $38.1 million, or $5.00 per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BARRETT BUSINESS SERVICES INC reported the fourth quarter ended December 31, 2022 results: revenue $272.0 million, net income $11.5 million, EPS $1.64 per diluted share. Guidance initiated.

Period: the fourth quarter ended December 31, 2022
Revenue: $272.0 million
Net income: $11.5 million
EPS: $1.64 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Fourth Quarter 2022 Financial Summary vs. Prior Year Quarter • Revenues up 6% to $272.0 million. • Gross billings up 8% to $1.95 billion. • Average worksite employees (“WSEs”) up 6%. • Net income up to $11.5 million, or $1.64 per diluted share, compared to $10.6 million, or $1.40 per diluted share.

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Source: SEC EDGAR

accession 0000950170-23-005526

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