TrueBlue announced its financial results for the second quarter of 2025, reporting revenue of $396 million, which was flat compared to Q2 2024. The net loss per diluted share was $0.01, a significant improvement from a net loss of $3.45 in the prior year period. Adjusted net loss per diluted share was $0.07, compared to an adjusted net loss of $0.35 in Q2 2024.
For the twenty-six weeks ended June 29, 2025, total company revenue declined 4.1% to $766.6 million. The Healthcare Staffing Professionals (HSP) acquisition provided inorganic growth of 4.1% for the thirteen weeks and 3.5% for the twenty-six weeks, partially offsetting organic declines. Gross profit as a percentage of revenue declined by 280 basis points to 23.6% for the thirteen weeks.
Selling, general and administrative (SG&A) expense improved significantly, declining 7.4% to $89.8 million for the thirteen weeks and 9.6% to $184.4 million for the twenty-six weeks. This reduction reflects approximately $90 million in permanent SG&A savings from the 2022 base, demonstrating disciplined cost management. The company maintained a solid liquidity position with $21.9 million in cash, $53.8 million in outstanding debt, and $79 million available under its Revolving Credit Facility, totaling $100.9 million in liquidity.
Management expressed cautious optimism, anticipating a return to company-wide growth in the third quarter of 2025. Revenue growth for Q3 2025 is projected to be between 5% and 11% year-over-year, including approximately 4% inorganic growth from the HSP acquisition. The PeopleManagement commercial driving business delivered its fourth consecutive quarter of double-digit revenue growth in Q2 2025.
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