TBI FY 2019 Earnings Report — TrueBlue, Inc. Revenue & Financial Results | Market Cap Arena

TrueBlue, Inc.TBI

FY 2019 Earnings

Reported February 24, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$2.4B	—	$2.5B	—	-5.2%
Op. Income	$66M	—	$74M	—	-10.5%
Gross Margin	26.2%	—	26.6%	—	-0.5pp
Net Margin	2.7%	—	2.6%	—	0.0pp
EPS (Diluted)	$1.61	—	$1.63	—	-1.2%
Free Cash Flow	$66M	—	$109M	—	-38.9%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.7B
GROSS PROFIT	$620M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$516M
Other Expenses	$38M
Operating Expenses	$554M
Cost & Expenses	$2.3B
OPERATING INCOME	$66M
Interest Income	$7M
Interest Expense	$3M
Other Income/Expenses	$4M
INCOME BEFORE TAX	$70M
Income Tax Expense	$7M
Net Income from Continuing Ops	$63M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$63M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$63M
D&A	$38M
EBIT	$66M
EBITDA	$104M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.7B
GROSS PROFIT	$620M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$516M
Other Expenses	$38M
Operating Expenses	$554M
Cost & Expenses	$2.3B
OPERATING INCOME	$66M
Interest Income	$7M
Interest Expense	$3M
Other Income/Expenses	$4M
INCOME BEFORE TAX	$70M
Income Tax Expense	$7M
Net Income from Continuing Ops	$63M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$63M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$63M
D&A	$38M
EBIT	$66M
EBITDA	$104M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$63M
Depreciation & Amortization	$38M
Stock-Based Compensation	$10M
Deferred Income Tax	$1M
Other Non-Cash Items	$21M
Change in Working Capital	-$38M
OPERATING CASH FLOW	$95M
Capital Expenditure	-$28M
Acquisitions (Net)	$215.0K
Purchases of Investments	-$29M
Sales/Maturities of Investments	$31M
Other Investing Activities	-$12M
NET CASH FROM INVESTING	-$25M
Net Debt Issuance	-$43M
Common Stock Repurchased	-$41M
Common Dividends Paid	$0
Other Financing Activities	$1M
NET CASH FROM FINANCING	-$83M
FREE CASH FLOW	$66M
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$38M
Short-Term Investments	$0
Net Receivables	$353M
Inventory	$0
Other Current Assets	$13M
TOTAL CURRENT ASSETS	$422M
PP&E (Net)	$107M
Goodwill	$237M
Intangible Assets	$74M
Long-Term Investments	$149M
Tax Assets	$3M
Other Non-Current Assets	$143M
TOTAL NON-CURRENT ASSETS	$714M
TOTAL ASSETS	$1.1B
Account Payables	$68M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$80M
TOTAL CURRENT LIABILITIES	$231M
Long-Term Debt	$37M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$213M
TOTAL NON-CURRENT LIABILITIES	$279M
TOTAL LIABILITIES	$510M
Common Stock	$1.0K
Additional Paid-In Capital	$0
Retained Earnings	$639M
Treasury Stock	$0
Accum. Other Comp. Income	-$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$626M
Minority Interest	$0
TOTAL EQUITY	$626M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$80M
Net Debt	$43M