secwatch.observer — SEC 8-K summary
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Issuer:     BGSF, INC. (BGSF)
CIK:        0001474903
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001474903-24-000032
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1474903/000147490324000032/0001474903-24-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1474903/000147490324000032/bgsf-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001474903-24-000032

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer