BBSI Q3 net income $18.2M ($2.68 EPS) up 4.6% YoY; declares $0.30 dividend

BARRETT BUSINESS SERVICES INC

2023-Q3 EPS reported $5.24 revenue$792,625,000

Revenue $273.3M (-0.2% YoY); gross billings up 3% to $1.96B; average WSEs +1% to 127,232.
Net income $18.2M vs $17.4M YoY; diluted EPS $2.68 vs $2.45; workers' comp expense improved to 2.7%.
Board declared $0.30 per share quarterly dividend, payable Dec 1 to holders of record Nov 17.
Repurchased 115,400 shares at avg $94.60 in Q3; $64.1M remaining under buyback program.
2023 guidance: gross billings growth 4-5%, avg WSE growth 2-3%, gross margin 3.1-3.15%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BARRETT BUSINESS SERVICES INC reported third quarter ended September 30, 2023 results: revenue $273.3 million, net income $18.2 million, EPS $2.68 per diluted share. Guidance reaffirmed.

Period: third quarter ended September 30, 2023
Revenue: $273.3 million
Net income: $18.2 million
EPS: $2.68 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

solutions, reported financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Financial Summary vs. Year-Ago Quarter • Revenues down 0.2% to $273.3 million. • Gross billings up 3% to $1.96 billion. • Average worksite employees (“WSEs”) up 1%. • Net income up to $18.2 million, or $2.68 per diluted share, compared to $17.4 million, or

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Source: SEC EDGAR

accession 0000950170-23-057445

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