BGSF Q3 revenue falls on lower billable hours

Overview

• US workforce solutions provider's fiscal Q3 revenue fell yr/yr due to lower billable hours

• Adjusted EPS for fiscal Q3 rose to $0.09 from $0.08 a year earlier

• Profitability improved due to lower expenses and operational efficiency

Outlook

• Company expects cost reduction measures and strategic investments to help manage near-term market challenges

Result Drivers

• LOWER BILLABLE HOURS - Co attributed revenue decline to fewer billable hours compared to prior year

• EXPENSE REDUCTION - Co said improved profitability was mainly due to reduced selling, general, and administrative expenses and lower interest expense

• PROPTECH AND AI INITIATIVES - Co said growth of PropTech platform and AI-enabled recruiting contributed to business improvements

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)