---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-030945"
form_type: "8-K"
ticker: "HQI"
cik: "0001140102"
company_name: "HireQuest, Inc."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T08:41:43.469312+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-030945
- form_type: 8-K
- ticker: HQI
- cik: 0001140102
- company_name: HireQuest, Inc.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1140102/000143774923030945/0001437749-23-030945-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1140102/000143774923030945/hqi20231108_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-030945
- JSON: https://secwatch.observer/filing/0001437749-23-030945.json
- Plain text: https://secwatch.observer/filing/0001437749-23-030945.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140102/000143774923030945/0001437749-23-030945-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.