HireQuest Q3 net income falls 61.5% to $1.6M ($0.12 EPS); rev up 18.1%

HireQuest, Inc.

2023-Q3 EPS reported $0.45 revenue$28,118,000

Franchise royalties rose 19.9% to $8.9M; total revenue $9.3M vs $7.8M a year ago.
Net income from continuing ops $1.6M ($0.12 diluted EPS) vs $4.1M ($0.30) in Q3 2022.
Adjusted EBITDA $3.7M vs $6.5M; SG&A surged 201% to $6.4M on $2.8M net workers' comp increase.
System-wide sales rose to $151.2M from $123.2M, driven by MRINetwork acquisition.
Company maintains $0.06 quarterly dividend; pending TEC Staffing Services acquisition noted.

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 0.98

HireQuest, Inc. reported Third quarter ended September 30, 2023 results: revenue $9.3 million, net income $1.6 million, EPS $0.12 per diluted share.

Period: Third quarter ended September 30, 2023
Revenue: $9.3 million
Net income: $1.6 million
EPS: $0.12 per diluted share
Result: reported results

Exact text from the filing

30, 2023. Third Quarter 2023 Summary ● Franchise royalties increased 19.9% to $8.9 million compared to $7.4 million in the prior year period. ● Total revenue increased 18.1% to $9.3 million compared to $7.8 million in the prior year period. ● Selling, general and administrative (“SG&A”) expenses increased 201% to $6.4 million compared to $2.1 million in the prior

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Source: SEC EDGAR

accession 0001437749-23-030945

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