HireQuest Q1 2023 revenue up 40% to $9.9M; net income from continuing ops up 372% to $2.3M

HireQuest, Inc.

2023-Q1 EPS reported $0.19 revenue$9,857,000

Franchise royalties increased 41.8% YoY to $9.3M; system-wide sales up 52% to $153.5M.
Net income from continuing ops $2.3M ($0.17 diluted EPS) vs $0.5M ($0.04) prior year, up 372%.
Adjusted EBITDA $4.6M, down from $5.3M due to $1.6M increase in SG&A from MRI acquisition.
Quarterly cash dividend maintained at $0.06 per share; intends to continue quarterly dividends.
Total assets $110.6M, cash $8.2M; $19.1M available under line of credit.

item 2.02 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

HireQuest, Inc. reported the first quarter ended March 31, 2023 results: revenue $9.9 million, net income $2.3 million, EPS $0.17 per diluted share.

Period: the first quarter ended March 31, 2023
Revenue: $9.9 million
Net income: $2.3 million
EPS: $0.17 per diluted share
Result: reported results

Exact text from the filing

31, 2023. First Quarter 2023 Summary ● Franchise royalties increased 41.8% to $9.3 million compared to $6.6 million in the prior year period. ● Total revenue increased 40.0% to $9.9 million compared to $7.0 million in the prior year period. ● Income from operations decreased 14.7% to $3.3 million compared to $3.9 million in the prior year period. ● SG&A increased

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Source: SEC EDGAR

accession 0001437749-23-013924

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