BGSF Q1 revenue down 8.6% to $68.8M; adjusted EPS falls to $0.07 from $0.16 YoY

BGSF, INC.

Revenue $68.8M, down from $75.3M; gross profit $23.4M vs $26.8M.
Operating income $0.4M vs operating loss of $20.7M (includes $22.5M non-cash impairment in prior year).
Net loss $0.8M ($0.07 diluted EPS) vs net loss $16.5M ($1.54); adjusted EPS $0.07 vs $0.16.
Adjusted EBITDA $2.7M (3.9% of revenue) vs $4.3M (5.6%) a year ago; generated $7.4M operating cash flow.
CEO cites progress in Professional division with Workday partnership; Property Management facing industry competition.

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 fiscal quarter ended March 31, 2024 results: revenue $68.8 million, net income ($0.8) million, or ($0.07) per diluted share.

Period: first fiscal quarter ended March 31, 2024
Revenue: $68.8 million
Net income: ($0.8) million, or ($0.07) per diluted share
Result: reported results

Exact text from the filing

and professional workforce solutions, today reported financial results for the first fiscal quarter ended March 31, 2024. Q1 2024 Highlights from Operations: • Revenues were $68.8 million for 2024, compared to $75.3 million for 2023. • Gross profit was $23.4 million, from $26.8 million in 2023. • Operating income was $0.4 million in 2024, up from an operating loss

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BGSF, INC. filing history →

Source: SEC EDGAR

accession 0001474903-24-000032

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