BBSI Q1 net income $0.8M, EPS $0.12 vs $0.04 YoY; revenue up 3% to $254.7M

BARRETT BUSINESS SERVICES INC

2023-Q1 EPS reported $0.12 revenue$254,667,000

Net income $0.8M ($0.12 diluted EPS) vs $0.3M ($0.04) in Q1 2022.
Revenue $254.7M (+3% YoY); gross billings $1.79B (+5%).
Average worksite employees up 2.7% to 119,313; workers' comp expense 2.9% of gross billings.
Quarterly dividend reaffirmed at $0.30/share, payable June 2; $20M remaining in buyback.
FY 2023 outlook reaffirmed: gross billings growth 5-8%, WSE growth 2-4%, gross margin 3.0-3.15%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BARRETT BUSINESS SERVICES INC reported first quarter ended March 31, 2023 results: revenue $254.7 million, net income $0.8 million, EPS $0.12 per diluted share.

Period: first quarter ended March 31, 2023
Revenue: $254.7 million
Net income: $0.8 million
EPS: $0.12 per diluted share
Result: reported results

Exact text from the filing

management solutions, reported financial results for the first quarter ended March 31, 2023. First Quarter 2023 Financial Summary vs. Year-Ago Quarter • Revenues up 3% to $254.7 million. • Gross billings up 5% to $1.79 billion. • Average worksite employees (“WSEs”) up 3%. • Net income up to $0.8 million, or $0.12 per diluted share, compared to $0.3 million, or

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Source: SEC EDGAR

accession 0000950170-23-017178

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