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Trueblue TBI Goodwill impairment

Goodwill impairment at other companies

Resources Connection, Inc. logo
Resources Connection, Inc.RGP
$0-100%
Korn Ferry logo
Korn FerryKFY
$0—
Proficient Auto Logistics, Inc. logo
Proficient Auto Logistics, Inc.PAL
$25.6M—
RXO logo
RXORXO
$3M—

Segments

By segment

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PeopleSolutions$3.66M—
PeopleManagement$0—
PeopleReady$0—

Other financials

Income statement

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Revenue$398.6M+7.6%
Gross profit$79.0M-8.5%
Operating income-$17.8M-26.4%
Net income-$19.8M-38.0%
EPS (diluted)-$0.66-37.5%

Balance sheet

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Cash & equivalents$24.1M+4.7%
Total debt$130.4M+13.2%
Total equity$256.1M-15.3%
Total assets$620.7M-10.4%

Cash flow

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Operating cash flow-$9.8M+55.8%
CapEx$2.8M-39.6%
Free cash flow-$12.6M+52.9%

Valuation

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Market cap$205.23M+4.8%
Enterprise value$311.53M+9.7%
P/S0.1×0.0×

Profitability

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Gross margin21.9%-3.7pp
Operating margin-3.1%-1.0pp
Net margin-3.2%-1.3pp
FCF margin-3.6%+0.8pp

Returns & leverage

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Return on equity-19.1%-6.2pp
Debt / equity0.5×+0.1×
Current ratio2.1×+0.3×

Questions, answered.

What does goodwill impairment mean?
Write-down of goodwill carrying value when a reporting unit's fair value falls below its book value, indicating that past acquisitions have lost value.