---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-015670"
form_type: "8-K"
ticker: "HQI"
cik: "0001140102"
company_name: "HireQuest, Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T04:53:11.890885+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# HireQuest Q1 revenue falls 14.6% to $8.4M; diluted EPS down to $0.12 from $0.17

## Summary
- Franchise royalties decreased 16.0% to $7.8M vs $9.3M in Q1 2023.
- Net income from continuing ops $1.7M ($0.12 diluted EPS) vs $2.3M ($0.17) year-over-year.
- Adjusted EBITDA declined to $3.4M from $4.6M; system-wide sales $134M vs $153.5M.
- Company paid $0.06 quarterly dividend and intends to continue at that rate; expects seasonal increase in Q2/Q3.

## SEC filing metadata
- accession: 0001437749-24-015670
- form_type: 8-K
- ticker: HQI
- cik: 0001140102
- company_name: HireQuest, Inc.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1140102/000143774924015670/0001437749-24-015670-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1140102/000143774924015670/hqi20240509_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-015670
- JSON: https://secwatch.observer/filing/0001437749-24-015670.json
- Plain text: https://secwatch.observer/filing/0001437749-24-015670.txt

## Key facts
- Earnings Releases
  HireQuest, Inc. reported the first quarter ended March 31, 2024 results: revenue $8.4 million, net income $1.7 million, EPS $0.12 per diluted share.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $8.4 million
  - Net income: $1.7 million
  - EPS: $0.12 per diluted share
  - Result: reported results
  source text: First Quarter 2024 Summary ● Franchise royalties decreased 16.0% to $7.8 million compared to $9.3 million in the prior year period. ● Total revenue decreased 14.6% to $8.4 million compared to $9.9 million in the prior year period. ● Selling, general and administrative (“SG&A”) expenses were $5.6 million, a decrease of 3.9% compared to $5.8 million in the prior year period. Excluding net workers’ compensation expense of $572,000 and MRI ad fund expense of $101,000, SG&A for the quarter would have decreased 12.6%. ● Income from operations decreased 36.6% to $2.1 million compared to $3.3 million in the prior year period. ● Net income from continuing operations was $1.7 million, or $0.12 per diluted share, a decrease of 27.0% compared to net income from continuing operations of $2.3 million, or $0.17 per diluted share in the prior year period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1140102/000143774924015670/0001437749-24-015670-index.htm

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