Mar. 27 at 9:34 PM
$HQI HireQuest reports Q4 EPS 19c, consensus 19c
Reports Q4 revenue
$8.1M, consensus
$9.3M.Total revenue decreased 17.2% to
$8.1M compared to
$9.8M in the prior year period.System-wide sales for the fourth quarter of 2024 decreased 6.0% to
$134.8M compared to
$143.5M for the same period in 2023. System-wide sales for the full year ended December 31 decreased 6.9% to
$563.M compared to
$605.1M in the prior year period. Rick Hermanns, HireQuest's President and Chief Executive Officer, commented, "Our fourth quarter results are reflective of the challenging environment that impacted the staffing industry throughout 2024.
That said, we achieved profitability in the fourth quarter and full fiscal year of 2024, demonstrating the underlying strength of our franchise model. Additionally, we continued to drive our expense reduction initiatives resulting in a 22.7% decrease in SG&A expenses in the fourth quarter and a 12.4% decrease in the full year 2024...
"We made encouraging progress in 2024, but the economic environment remains unpredictable. As we begin to move through 2025, we are focused on leveraging our flexible staffing model, client relationships and enhanced balance sheet to position our business to meet strengthened demand as the economy improves," Mr. Hermann's concluded.
