BGSF Q1 2023 revenue up 9.9% to $75.3M, net loss $(16.5)M on $22.5M impairment charge

BGSF, INC.

2023-Q1 EPS reported -$1.54 revenue$75,316

Revenues $75.3M (+9.9% YoY); gross profit $26.8M (+14.3%); gross margin 35.6% (+140 bps).
Net loss from continuing ops $(16.5)M ($1.54 diluted EPS) includes $22.5M non-cash impairment of trade names.
Adjusted EBITDA $4.3M (up from $3.9M); adjusted EPS $0.16 (vs $0.23 in 2022), impacted by Horn acquisition debt and higher rates.
Company cites Horn Solutions acquisition driving Professional segment growth; recently acquired Arroyo Consulting for nearshore/offshore IT.
Rebranding to single BGSF name underway; management cautiously optimistic despite uncertain economy.

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

BGSF, INC. reported first quarter ended April 2, 2023 results: revenue $75.3 million, net income $(16.5) million, EPS $(1.54) per diluted share.

Period: first quarter ended April 2, 2023
Revenue: $75.3 million
Net income: $(16.5) million
EPS: $(1.54) per diluted share
Result: reported results

Exact text from the filing

services, and workforce solutions, today reported financial results for its first quarter ended April 2, 2023. Q1 2023 Highlights from Continuing Operations: • Revenues were $75.3 million, up 9.9% from 2022. • Gross profit was $26.8 million, up 14.3% from 2022. Gross profit percent increased 140 basis points to 35.6% in 2023. • Operating income (loss) includes a

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BGSF, INC. filing history →

Source: SEC EDGAR

accession 0001474903-23-000066

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