TBI FY 2022 Earnings Report — TrueBlue, Inc. Revenue & Financial Results | Market Cap Arena

TrueBlue, Inc.TBI

FY 2022 Earnings

Reported February 15, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$2.3B	—	$2.2B	—	3.7%
Op. Income	$72M	—	$68M	—	5.5%
Gross Margin	26.7%	—	25.8%	—	0.9pp
Net Margin	2.8%	—	2.8%	—	-0.1pp
EPS (Diluted)	$1.86	—	$1.74	—	6.9%
Free Cash Flow	$90M	—	-$15M	—	717.0%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.7B
GROSS PROFIT	$602M
R&D Expenses	$0
Selling & Marketing	$13M
General & Administrative	$488M
SG&A Expenses	$501M
Other Expenses	$29M
Operating Expenses	$530M
Cost & Expenses	$2.2B
OPERATING INCOME	$72M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$1M
INCOME BEFORE TAX	$73M
Income Tax Expense	$11M
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$62M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$42M
EBIT	$73M
EBITDA	$116M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.7B
GROSS PROFIT	$602M
R&D Expenses	$0
Selling & Marketing	$13M
General & Administrative	$488M
SG&A Expenses	$501M
Other Expenses	$29M
Operating Expenses	$530M
Cost & Expenses	$2.2B
OPERATING INCOME	$72M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$1M
INCOME BEFORE TAX	$73M
Income Tax Expense	$11M
Net Income from Continuing Ops	$62M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$62M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$62M
D&A	$42M
EBIT	$73M
EBITDA	$116M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$62M
Depreciation & Amortization	$29M
Stock-Based Compensation	$10M
Deferred Income Tax	$4M
Other Non-Cash Items	$25M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$121M
Capital Expenditure	-$31M
Acquisitions (Net)	-$10M
Purchases of Investments	-$18M
Sales/Maturities of Investments	$28M
Other Investing Activities	$10M
NET CASH FROM INVESTING	-$21M
Net Debt Issuance	$0
Common Stock Repurchased	-$65M
Common Dividends Paid	$0
Other Financing Activities	$727.0K
NET CASH FROM FINANCING	-$65M
FREE CASH FLOW	$90M
Net Change in Cash	$32M

Balance Sheet

Item	Amount
Cash & Equivalents	$72M
Short-Term Investments	$0
Net Receivables	$326M
Inventory	$0
Other Current Assets	$13M
TOTAL CURRENT ASSETS	$430M
PP&E (Net)	$147M
Goodwill	$94M
Intangible Assets	$16M
Long-Term Investments	$26M
Tax Assets	$26M
Other Non-Current Assets	$280M
TOTAL NON-CURRENT ASSETS	$589M
TOTAL ASSETS	$1.0B
Account Payables	$77M
Short-Term Debt	$0
Deferred Revenue	$4M
Other Current Liabilities	$57M
TOTAL CURRENT LIABILITIES	$243M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$230M
TOTAL NON-CURRENT LIABILITIES	$280M
TOTAL LIABILITIES	$523M
Common Stock	$1.0K
Additional Paid-In Capital	$0
Retained Earnings	$516M
Treasury Stock	$0
Accum. Other Comp. Income	-$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$496M
Minority Interest	$0
TOTAL EQUITY	$496M
TOTAL LIABILITIES & EQUITY	$1.0B
Total Debt	$63M
Net Debt	-$9M