TrueBlue, Inc. (TBI): history, ownership, mission, how it works & makes money

A Brief History of TrueBlue, Inc. (TBI)

Company Formation and Early Years

TrueBlue, Inc. was founded in 1980 by Andrew L. Cramer in Tacoma, Washington. The company initially focused on the staffing industry, providing temporary labor for a variety of sectors.

Strategic Acquisitions

TrueBlue has expanded its footprint through numerous acquisitions. Significant acquisitions include:

• Labor Finders in 1998, enhancing its labor workforce capabilities.
• PeopleReady in 2016, a staffing service that specializes in on-demand labor.
• Corporate Resource Services in 2018, which brought in additional staffing branches.

Financial Growth

As of 2022, TrueBlue reported revenues of approximately $1.0 billion. The company's market capitalization reached around $600 million by the end of 2022.

The following table summarizes key financial metrics over the past few years:

Market Position and Services

TrueBlue operates several brands, including:

• PeopleReady – Provides on-demand staffing solutions.
• PeopleScout – Focuses on recruitment process outsourcing.
• PeopleManagement – Offers workforce management services.

As of 2023, TrueBlue services over 100,000 clients and has placed more than 350,000 workers in various industries, including construction, warehousing, and manufacturing.

Recent Developments

In 2023, TrueBlue launched a new digital platform to streamline the staffing process, anticipating a growth trajectory of 15% annually over the next five years. The company also announced an investment of $10 million into technology enhancements for workforce solutions.

The following table highlights TrueBlue's workforce and operations details:

Stock Performance

TrueBlue's stock (TBI) has shown volatility over the years. The closing stock prices for the last four years are as follows:

Corporate Responsibility

TrueBlue is committed to corporate social responsibility initiatives. In 2022, the company invested over $1 million in community support programs, focusing on workforce development and skill training.

A Who Owns TrueBlue, Inc. (TBI)

Overview of Ownership Structure

TrueBlue, Inc. (TBI) is a publicly traded company listed on the New York Stock Exchange under the ticker symbol TBI. The ownership of TBI consists of various institutional and individual shareholders. As of the latest available data, approximately 88% of the shares are held by institutions.

Major Shareholders

The following table outlines the major shareholders of TrueBlue, Inc. as of the most recent fiscal year:

Insider Ownership

Insider ownership plays a significant role in the governance of TrueBlue, Inc. The following table provides details on the top insiders and their respective ownership stakes:

Stock Performance and Market Capitalization

The stock performance of TrueBlue, Inc. has shown various trends over the recent fiscal year, reflecting changes in ownership and investor sentiment. As of the latest data:

• Current Stock Price: $17.56 per share
• Market Capitalization: $400 million
• 52-Week High: $20.40
• 52-Week Low: $14.00

Institutional Ownership Trends

Institutional ownership is a critical factor for TBI's stock performance. The following data illustrates the trends over the past year:

Summary of Financial Performance

TrueBlue, Inc. reported the following financial metrics for the fiscal year 2022:

• Total Revenue: $1.05 billion
• Net Income: $36 million
• Adjusted EBITDA: $80 million
• Earnings Per Share (EPS): $1.45

TrueBlue, Inc. (TBI) Mission Statement

Overview

TrueBlue, Inc. (TBI) is a leader in staffing solutions, dedicated to providing workforce solutions that enhance productivity and create opportunities for workers. Their mission statement encompasses the commitment to connect people and work while prioritizing the needs of both clients and employees.

Mission Statement Components

The mission statement of TrueBlue emphasizes the following key components:

• Empowerment: TrueBlue aims to empower individuals through meaningful employment opportunities.
• Collaboration: The company focuses on building strong relationships between employers and workers.
• Innovation: TrueBlue is dedicated to leveraging technology and innovative solutions to enhance the staffing process.
• Community: The company is committed to contributing positively to the communities in which it operates.

Financial Overview

As of 2023, TrueBlue reported significant financial data that highlights its operational capacity and market performance:

Workforce and Client Base

TrueBlue operates under various brands and services that cater to a diverse range of industries. The workforce statistics are as follows:

Commitment to Diversity

TrueBlue is also focused on diversity and inclusion within its workforce. Recent data showcases the company's commitment:

• Women in Leadership: 40% of total management roles are held by women.
• Minority Representation: 30% of the workforce identifies as minorities.
• Employee Training Programs: The company has invested $1 million in training programs for underrepresented groups.

Future Outlook

TrueBlue's strategic focus includes expanding its service offerings and enhancing technology integration. Projected growth metrics for 2024 are:

How TrueBlue, Inc. (TBI) Works

Business Model

TrueBlue, Inc., a staffing and workforce solutions company, primarily focuses on providing temporary labor services across various industries. The company's operational segments include:

• Staffing Solutions
• Managed Services
• On-site Services

Revenue Streams

In fiscal year 2022, TrueBlue reported total revenues of approximately $880 million. Revenue contributions from different segments were:

Market Position

TrueBlue operates in a competitive staffing market, ranked among the top staffing firms in the United States. As of 2022, the company's market share stood at approximately 1.5%, with key competitors including:

• Randstad
• ManpowerGroup
• Allegis Group

Financial Performance

TrueBlue's financial health can be illustrated through the following key performance indicators from the fiscal year 2022:

Employee Engagement

TrueBlue places significant emphasis on workforce engagement, with a reported employee satisfaction rate of 85% in 2022. The company provides various training and development programs, resulting in:

• Over 1,000 hours of training provided to employees annually.
• Participation in corporate social responsibility initiatives, engaging more than 5,000 employees.

Technology Integration

The adoption of technology within TrueBlue's operations is crucial for efficiency. The company invested approximately $15 million in technology upgrades in 2022, which includes:

• Implementation of an advanced applicant tracking system.
• Utilization of data analytics for workforce management.

Strategic Partnerships

TrueBlue has formed strategic partnerships with various organizations to enhance service offerings. In 2022, the company collaborated with leading firms in technology and human resources to expand its capabilities:

Future Outlook

Looking forward, TrueBlue aims to increase its market penetration and diversify service offerings. Projections for 2023 indicate an expected revenue growth of 10%, driven by:

• Expansion into new regional markets.
• Enhancements in workforce technology solutions.

How TrueBlue, Inc. (TBI) Makes Money

Core Business Segments

TrueBlue, Inc. operates primarily through three business segments: Staffing Services, Onsite Services, and Talent Solutions.

Staffing Services

The Staffing Services segment focuses on recruiting temporary and permanent workers for various industries. In 2022, this segment generated approximately $1.4 billion, representing about 55% of the company’s total revenue.

Onsite Services

Onsite Services provide customized staffing solutions where TrueBlue operates on the client’s premises. The revenue generated from this segment in 2022 was around $800 million, accounting for nearly 30% of total revenue.

Talent Solutions

This segment focuses on providing recruitment process outsourcing and managed services. It generated approximately $400 million in revenue in 2022, contributing about 15% to overall revenue.

Revenue Breakdown by Segment

Client Industries

TrueBlue serves a wide range of industries including manufacturing, retail, logistics, and healthcare. Specific revenues from these industries in 2022 are as follows:

Profit Margins

TrueBlue reported an operating margin of 4.5% for the fiscal year 2022, with a net profit margin of 2.8%.

Key Financial Figures

• Revenue: $2.6 billion (2022)
• Gross Profit: $421 million
• Total Assets: $1.1 billion
• Total Liabilities: $500 million
• Stockholder Equity: $600 million

Market Position

TrueBlue holds a significant market share in the staffing industry, which is projected to be valued at around $200 billion in the United States by 2026. TrueBlue's competitive positioning is bolstered by its diverse service offerings and client-focused approach.

Average Worker Billing Rates

The average billing rate for workers placed by TrueBlue varies by sector. In 2022, the rates were approximately as follows:

Future Initiatives

To drive growth, TrueBlue is focusing on technological advancements and digital transformation, with a projected investment of $50 million in technology through 2024.