HireQuest Q2 revenue +12% to $9.0M, net income -57% to $2.1M ($0.15 EPS)

HireQuest, Inc.

2023-Q2 EPS reported $0.34 revenue$18,848,000

Franchise royalties rose 20.5% to $8.7M from $7.2M; system-wide sales $157M vs $120M.
SG&A surged 74.5% to $5.6M on MRI acquisition costs and $690K workers' comp charge.
Adjusted EBITDA fell to $3.9M from $5.8M; net income $0.15 diluted EPS vs $0.35.
Cash $2.1M, credit line availability $23.2M; quarterly dividend maintained at $0.06/share.

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 quarter ended June 30, 2023 results: revenue Total revenue increased 12.4% to $9.0 million, net income Net income from continuing operations decreased 57.2% to $2.1 million, EPS $0.15 per diluted share.

Period: quarter ended June 30, 2023
Revenue: Total revenue increased 12.4% to $9.0 million
Net income: Net income from continuing operations decreased 57.2% to $2.1 million
EPS: $0.15 per diluted share
Result: reported results

Exact text from the filing

June 30, 2023. Second Quarter 2023 Summary ● Franchise royalties increased 20.5% to $8.7 million compared to $7.2 million in the prior year period. ● Total revenue increased 12.4% to $9.0 million compared to $8.0 million in the prior year period. ● Income from operations decreased 37.4% to $2.7 million compared to $4.3 million in the prior year period. ●

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Source: SEC EDGAR

accession 0001437749-23-023024

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