TBI - Earnings call transcript Q1 2022

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Operator

Ladies and gentlemen, thank you for standing by. And welcome to the TrueBlue First Quarter 2022 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. President you Vice conference. begin Executive Gafford, and may CFO, your Derrek

Derrek Gafford

afternoon, for Chief by Beharelle. you and Executive today's Patrick Good thank joined joining everyone, call. I'm Officer, our

results of call to our Investor of all We are no you the same subject uncertainties, presenting everyone want obligation stated. to forward-looking in and which I at risks in unless for and we today, today's begin, complete release terms non-GAAP update to encourage our non-GAAP presentation made contain comparisons we that the measures, year, section, could or reconciliations are in those when described which uncertainties, some their or of filings, period Before to from revise forward-looking based today's and Any and a any on materially comparison SEC to otherwise today's to statements. review slide earnings are differ We forward-looking the and press understanding statements. cause our these financial These statements, the actual prior risks remind a and under purpose. assume results. release in in use trueblue.com, Relations

a that, website I'll our and turn the today's With copy be remarks over on will prepared also Patrick. our replay audio will we and a Lastly, after soon at call. the providing of conclusion transcript the of call full be to available call

Patrick Beharelle

from marking quarter by an a demand revenue for am from QX historically drove results. was quarter capitalizing while high XX% and fourth PeopleScout supply new rates today's benefited PeopleReady for segments improvements, quarter, led of I XXXX $XXX existing widespread contributions of all consecutive first revenue the everyone of pleased worker the and performance a revenue to increase report into with trends from welcome, client and on services, growth. call. growth. bill Overall PeopleScout, Derrek, fourth you, demand continued our million, to delivered compared Thank strong double-digit consecutive XXXX, trends which our three

revenue supply factors, our improving the compared QX continued of with pleased a global focus growth XXXX. also increase challenges. $X business These are an produce efficiencies million million, of despite income PeopleManagement to and net operational We $XX along with on our chain

national serve branch Let's look our segments The is are rates while well of PeopleReady trailing the was is of PeopleManagement and PeopleReady at and to total provider segment second supply continued total market. and within revenue, services or each performance QX XX% industrial JobStack relationships. commercial in take largest a to North of outsource management American driver an is staffing engagement typical the involves supplying staffing provides of highs of as improve worker rates, that onsite driver multiyear, outpacing and and of essence profit. performance North PeopleManagement largest industrial hospitality solid. pay and onsite dollar a representing historic a X% multimillion in XX% segment clients our starting skilled people and segment XX-month total via three our retail workforce of demand compared total as XX% months market. on trades closer footprint locations, the physical XX XX% was segment up PeopleReady. We leading at of trailing mobile our representing PeopleReady of labor industrial Bill as revenue with app. American revenue staffing a XXXX. our profit. as

chain despite global X% QX PeopleManagement up for supply robust. site with We with pleased growth onsite demand trucking business XXXX. produced and quarter year-over-year and our our this remained compared growth very Same challenges commercial revenue sales are to services

provider fourth as our consecutive a existing profit. recruitment well through this clients at and started the new delivered up employee XX% client permanent outsourcing service attrition total leader process of a positions wins. benefited surge from solutions. of and total segment, our to combination Turning XXXX, PeopleScout is third to managed filling of trailing to rates our PeopleScout PeopleScout global XX% higher services that revenue, segment of XX% in as compared Results represents clients offering restaffing with growth XXXX. quarter quarter a existing ramp revenue QX in QX XX-month

to to bit turning strategies, provide Before our of for trends. I recent want context a business

seasonal that carry seasonal typically some broader back clients March QX, the revenue. taking we and as into due the to approach well was a more project on labor as of This industry year, demand PeopleReady temp During of work half result to less will a see not economic uncertainty. increase ramp the in as a measured in retail

PeopleReady the On PeopleScout Revenue line for expected. and as with trends continued perform for to been in has April norms. PeopleManagement plus in side sequential growth historical

Now U.S. fragmented, of made are digitalize the The of I'd industrial mobile smaller market most highly competes regional app. JobStack cost our typically able gears type our not delivery market shift up is and there to few of large something like deploy with like our efficiency bulk service update to improve the where key strategy with our were smaller to business players of to and the PeopleReady companies investment segment required strategies in structure. further our spend very on These temporary segment the starting staffing PeopleReady is and PeopleReady. gain market by to share the you labor important At model companies.

time. our nationwide at industrial footprint along is JobStack, has within our application At associates a is for created user of unique center this the staffing. what So our both makes to allowing us a digital provider and strategy clients, experience connect the with any leading groups

years deploying over application has to Just option five nearly XX%. ago, grown the associated

XX,XXX, clients, of XXXX. total XX% are users increase a the application versus to Turning QX

focus converting to clients to heavy We users. on continue

user but for aims has or and whether PeopleReady heavy for ones facing via digital order, the during XX client approving existing roles. XX and in of increases only includes enabler revenue, new month, users clients effectively. or by of As per reach better includes compared quarter. experience, differentiated our fill territory go-to-market time. on to resulting strategy, continued touches service a the on entering rates, operating repurpose expanding for account and also more XXX,XXX reduction XX% which hours to addition is responsible increased XX% job a heavy growth with week This and shifts We've app net our also Not which QX to demand reduction. typical of that hours have worker the nearly account reminder, new provide client per to clients, approach to XXXX. relationships in the a cost filled non-client rating a JobStack center more jobs XX% seen an key U.S. it's managers in building Enhanced compared Overall with serve a branch a positions based and existing

We deliver greater later coverage expanded focus center the service expect pilots. two and a territorial elevated will structure the provide service. customer sales launched successfully and of Last we new year,

In virtual apply addition, we model locations test. opened center as service skilled to continue a to learnings. all year, to added operating Results dedicated improve pilot a earlier this for we fully model and the trades, and advance

models. attrition, materially For continuity, model employee relative to the financial metrics other thus have to tends better more example, learning virtual leading we're creating to the potentially lower

we ideal virtual physical the the move develop progress of forward, and be models assessing both most for business. As closely we structure the will

and client Turning focused to base. PeopleManagement, our growing execution our strategy on is

continued to our recent we focused management in year, chain business this more We million XXXX. enhance up and record sales development The offset helping secured activities. expanding the $XX are of annualized trends average local on as invest supply existing wins level as comparable footprint improving more Coming business wins, XX% by has than our teams And challenges. remain new in well to three and underserved strength last new continue off year sales global prior of people to new geographic markets. client wins a versus to targeting year,

programs our needs Additionally, and and and effort improve in an we're customer better to investing serve clients’ care retention. associate

to PeopleScout, their to strategy now an reduced pandemic. eliminated poised hybrid growth. Turning Many reputation we're capture teams our and during leverages seeing companies and models. or recruiting And outsourced for in-house returned strong companies industry opportunities fully to brand our the

Our ability leisure. made levels, new specifically in capitalize they clients To and teams and workers staffing investments expand existing to re base sales us volumes demand are of obtain has meet our clients. we of our to within the to wallet travel allowed to pre-pandemic the hire existing further large client to as share

Our efforts XX% wins up continue annualized new with prior versus deliver strong to this million results of year, year. $XX

operating I'll share now Our our with in financial greater a results. pass digital ongoing who efficiencies improving for expansion focus Derrek, detail to combined driving margin the are creating and competitive on call us market. commitment over will our the to advantage operational around our strategies,

Derrek Gafford

was driven rates three capitalize improvements supply revenue strong the continued supply. for quarter returned million, as revenue Thank to quarter. representing of global $XXX chain demand growth challenges. command XX%. for and growth XXXX QX worker segments you, was this This bill PeopleManagement in higher despite Total growth to all overall reported growth PeopleReady on Patrick. by

increase existing $X continued million, per million. share, net PeopleScout income EBITDA $X.XX $X While We from and million an see clients. both new of $XX $XX demand or of increase to posted of adjusted was heightened million, an and

by also basis and XXXX where providing margin contributed increasing up higher SG&A basis basis points than mix. XX by driven compensation growth than to basis margin PeopleScout basis split pay income growth mix points XX two revenue from higher basis of bill EBITDA margin due Gross between was QX PeopleManagement. expansion revenue XX was contributed margins XX% factors. and adjusted our of margin XX.X% and points carries Our points segments gross XX% spreads, driven points which And XX a sales of which respectively, for points higher of grew net increased from sales workers benefit. from points XXX and expansion. favorable XXX XXX XX expense PeopleReady mix, staffing customer basis

our the technology redesigning year, in First, are applicant customer process of our and for systems. tracking which this we PeopleReady houses office front

quarter adjusted increase basis in from an As XX%, essentially with as net income. system planned, an this next million implement revenue adjusted excluded on and Viewing we are EBITDA line costs we this These of in SG&A spent prepare to year. $X fully adjusted resulted growth. growth

basis. Second, still point in a more SG&A cost lowest dollars, made percentage the quarter of XXXX. cuts our these is low laughing seasonally in on also is pronounced temporary cuts QX are volume we Since laughing cost making our

to a we adjusted QX it points by comparison more year-over-year SG&A company second basis SG&A XXX operational than are the percentage improved XXXX. and The rate half pre-pandemic bottom quarter revenue in line in running grew our of in as XXXX of QX digital about strategies. efficiently XXXX. expect with today to grow XXXX in We the due the improvements QX is

in rate tax the of of versus XX% QX year. Our tax was quarter a in benefit first effective last income X%

profit top put of growth segment profit segment rates for margin and but an XX% our particularly growth results a of while however, strong Average X%; Turning XX% which due in contraction. rates which in points XX grew basis seasonal double outpaced and From X% at segment up increased to We and XX revenue quarter we slight did hospitality returned in to margin points. decreased profit and continues saw to margin. basis to consecutive as retail weekly pullback part profit, to see XX segment from PeopleReady XX associates segment fourth work perspective boosted Bill were states. perspective our segments. geographic this XX% profit work in quarter project up year-over-year. growth increased a revenue industry were increased PeopleManagement deliver. was pay with digits widespread the

segment revenue quarterly This Our decline as the prior revenue a from highest three segment in contributed most segment year's customer leverage contributed sales points profit expansion. clients, with and increasing to new the at million PeopleScout. and history over of demand, improvement in XX% XXX strong growth in volumes points Operating as X due PeopleScout the of onsite volumes profit benefit credit revenue X reserve. growth. business of points results margin loss profit margin with commercial from travel margin demand well other business. and driving in same notably businesses The These profit our at provided to the increased year-over-year basis segment reflect expansion. marks higher leisure the and was

flows. cash Now and let's turn sheet to the balance

Our million cash business year-to-date producing debt. in through We shape. we the million balance with with sheet flows the The during XX quarter, million capital cash XX in cash operations totaling in leading of share million, from X finished quarter XXX authorization. is XX and is returned and flow outstanding great strong repurchases million of

Please filed please earnings For the today. open This presentation prepared questions. full details quarter on for our concludes our our the outlook remarks. second year for call and XXXX, see now

Operator

comes of Instructions] Marcon question [Operator Baird. line with first Your from the Mark

Mark Marcon

the offices about you markets the bit initially talk quarter? centralization of the little of in in rollout a that that started last and you in seeing Chicago you're you terms more can up of of wondering, terms in half and progress what you're I'm that Dallas, making the discussed

Patrick Beharelle

are the and the the account on state reminder, for going managers service on excited brick significantly about and locations, model involves non-client significantly a feet our future branch less making reliance XX, facing along. service local street doubling more coming roles. hours XX good more to sales from force center We're and coverage We're of essentially As centers pilots the hours reducing mortar how progress.

we've also then expanded expanded rolled Dallas the a mentioned and include Chicago to well As virtual for and and trades. center we've rural service out skilled Houston DC. we Baltimore earlier, remarks, And Washington, Illinois, to as the pilots prepared in we

going making pilot local of in And service In our very what's making site or has for in improving environments. centers safe has than accounts. service pretty model, is versus some is been one the Job of across the national is and stack that branch that to are up compare in And that the we've up, the lower both downstream feedback the that we're findings of visits model significant make we're our the his safety well, terms client client turnover in The branch in our metrics number implications which had interesting the teams usage service locations up the placing and safety sure orders the versus we're of way strong, way are centralized virtual board of favorable. number compare. the that group. in center is magnitude in are workers seeing the visits

we're delivery, which In model. what's operating for built not centralized well, went was technology, on terms a current of virtual our not branch a or

work having we're a get end do the of to in. state we system lot quality and So around until put

far. the the quite little other in the the locations thing the turnover only would branches, we not and that model a a that's case. been that's thought seen in We've centralized The surprising, and bit lower versus virtual so be been

In terms we're headed. a still where out. of working kind There's that open items of we're couple of

And it out. working his that the our other service mentioned next or some And first that is, One or be of then them open item of physical is our set be. year. the the still service of Derrek we're particularly what is office a as a will technology, the in upgrading of timing system. one still, prepared virtual remarks, in front dominant Will And centers centers the of X. model quarter we're combination

to out to of with we're roll best sort trying to centers technology new the the time so what's roll out out or them prior And the new way technology. the

obviously, open the are learnings. we're are a And pilots pleased so we're with had since items, headlines we've of of but and lot some the encouraged, results. and the really those And the expanding

Mark Marcon

with Chicago obviously, you in the you're what of Dallas a pilots? the you've like pleased seen the relative rate results. us has that sense improvement of rate the growth implemented Can I in improvement give or of haven't markets been to you for where Yes. rate mean, the or

Patrick Beharelle

competitive We're tracking. get those the Well, of I going reasons. to ourselves metrics various We're to that appreciate just Mark. question, the the keep to we're into details not going for

Mark Marcon

clearly I stand But -- better, Okay. it mean be that would reason a would it doing no? they're

Patrick Beharelle

no. it much. not say I'll cases, where had this and and cases some encouraging some in very leave some yes, that. cases, I'd as Well, others in it's We've just

Mark Marcon

regards then really do to to there. well right. All And PeopleScout, continue with

your clients a Because are hospitality, there and the and continue seeing leisure leisure increases. they're listening saying the that surge. that believe reason that have specific term? Any You some that basically of to surge you they're big in to certainly doesn't that, mentioned in near clients pretty seeing hospitality, some

challenge staffing for imagine would a big remains I So them.

Patrick Beharelle

it back in that PeopleScout on XXXX, of had the encouraged Well, catch-up a half lot and of continues. There's really now. right go We're that to does. with

in growth QX going QX. saw rate strong as be We to a think is very well. the XX% quarter of You

is retail, outsourcing. lot disproportionately in in towards health we're bit been transportation, we've but has that recruitment that that into we're a dynamic it's little typically a tilted in been really quarters, And our that's area. first-time had interested hospitality, health buyers. care, care excited about health play When other wins The hot because care of process look you seeing recent comes at companies

You see RPO a of that it don't engagement. care lot health providers had

strong. disproportionate of very So we're a compared historical to averages, lot number is buyers, a seeing pipeline first-time

and of PeopleScout portfolio clients. piece So of we're the but very good about entire just hospitality not feeling the it,

Mark Marcon

to And the Great. of a bit I'll queue. second question, with of about mentioned it a that? the back commentary talk Is just primarily then how then just due something Can half more you that's projects bit March, widespread coming jump little widespread? and is Or you basically the that your is the last about there in off? little the retail special kind clients

Patrick Beharelle

I'm take and one? Mark, add you that some specific start, take Yes, Derrek, But Derrek to why ahead color. go that let to and one going I'll don't

Derrek Gafford

the Sure. for Mark, Yes. thanks question.

our trends this to the that's second average, expect So PeopleReady. quarter, normally what we'd right about the compared X-year X%. really talked seeing, taking quarter go and that we the now it we're about is up to first sequentially suggests part What about the about picture, big in X%, with

it is you half of drop, to points it from if X would that, that call of So want retail.

the But overall, And sequential the and weeks out faring look very last not is But we well. seasonal work if retail like March fourth pretty X weeks part of a called project still some X pretty March had industry compared take build at we've going those was is of second carry. we industries. to has the been it widespread that strong. would retail expect, just sector first then in quarter, the Our that's to across we performing

and another points Just about left point in points a X X to points talked X X couple X, another points we've here points those in X -- less about. out of averaging X that than of

As build April the is, expected good to like of into that we news weeks the did March. we April, last is X compared went

there. consistent is everything So

but come our in of any in that seen softness We there. would have had or -- in back haven't haven't business as enough, in on recovered Both That's expected, of about any the that Interestingly PeopleScout quite rate March quarter if all pause had to are run at build XX% the doing revenue of side. buildup we pace here March that at running the we weekly XX%. for half any consistent pullback things PeopleManagement are side our continued talking and sequential And with those what growth. a into we're they would translate about or well. year-over-year this second growth really

Operator

next Your BMO Jeff from question Silber Capital comes of line with the Markets.

Unidentified Analyst

is Ryan for on This Jeff.

business a potential cyclical for What to you While bit upcoming seeing gauge little it market look doesn't appear pessimistic. business your time downturn? your more a is recession, is an the in do

Derrek Gafford

at I'll here, aspects ones a at think that look the common Well, you a most staffing could at. look economy, businesses, say some the go lot taken probably of ahead the In We've factors go and some they look down you’d a of take lot list start we of business. a I are of a and different take their off of own well. can Patrick, would as

this time inflation we've course, around, all, of what Fed's think on the got interest rates. our I with eyes doing and

management here. of flows, how more trends and a this sure We've well, ebb how be flow this really company knows across ebbs just not itself respond, where might experienced from and that we're got economy out So to of the team an and pretty the goes. to

really that's that The any still as anytime blue-collar seeing there's away well. rate other just are has that the in pay jobs those go look XX what oriented, that lower we're taking we we're soon. million we're at jobs. going anyone do open to country, thing opinion planning jobs and a Most of is business that That's the not

we'll we go where got and are things our has get adjustments we'll some business make But cards right and take play the So where see a we can we still that economy needed the and legs still depending look that goes. on think the here. economically, dealt

Patrick Beharelle

color worker all a there's talk little the This a lockdowns around geopolitical and add chain, issues, caveats, Patrick. Clearly, with the on in those we just worker inflation, uncertainties I'll pay China, list lot very Ryan, on. clients market with that. tight. supply is goes labor supply rates, remains of when But

things is they're bit. up And if doing with So And is I at you are at year-to-date the the clients our demand their a look of there. that what purchasing quite wins, one patterns. look

deals So people and are and and deals RPO going purchasing out on-site still large projects.

labor that tight. there have though, out. the been market projects some so are said And that is pushed very Having

look into chain You million We of mainly was half business our out pushed alternative energy had back to issues. the $XX and business. due of at it of QX And supply XXXX.

that but and some of So feels overlay labor there is it demand there's that the the like strong. definitely uncertainty very with tightness still markets

Unidentified Analyst

And a workers' guidance? less the in what it. margin headwind drove that a as the you revision on Are Got gross of expense. comp seeing follow-up,

Derrek Gafford

to our annual Are referring outlook? you

Unidentified Analyst

Yes, I was.

Derrek Gafford

continuing the a trends little doing take things. show Well, headwind on still maybe spreads the our less really headed, than for to PeopleScout. pay X where a and and strong, into workers' higher PeopleReady couple bit benefit bill of are of but clip. There's you really One, are gross growing well, those revenue the for those both here play PeopleManagement, also that's businesses a businesses coming is a faster are as both at for mix margin compensation,

Operator

from question with Kartik line the Research. Mehta next Northcoast of comes Your

Kartik Mehta

you at is Is what there absenteeism business, if same? or the JobStack that doing are Patrick, environment, difference core current well. in versus I'm and look a this your you seeing? the of kind about is lot talked difference a in JobStack obviously, really it app wondering, you

Patrick Beharelle

to got rolling since sick up all. absenteeism. showing seen of calling on comment back to same again. We've or down saw when February, just folks a just in not lot Omicron absenteeism In at levels. January, first, a come Well, were We more modest historical really December, spike

we lot of marketing the have nudges, have One we've in of workers numbers seen don't pretty the a is me in reminders, and in-app with with with advantages of results some incentives, there. terms JobStack front we with the in good do confirmations, of I to numbers positions JobStack filled versus moving -- the PeopleReady, those by were direction it's other other JobStack right been comment also say for that are across what somehwat PeopleManagement. but were just only that than that's And not in to one exact those not directionally, related.

at a If norms. around it's story fill our of back encouraging. a we're you our look more rates, PeopleManagement, rates, is been in XX% little fill mixed We're our bit to which historical really on

the a seen of haven't the We short-term low be the rates. of big a because But PeopleReady, JobStack, for position. assignments. without there much, in we'd worse much We're running fill in in lift mid-XXs nature still to as partly

the be So pretty having a front and as in JobStack impact all have of don’t is favorable absolutely And fill nudges helping well. to reminders a confirmations I have and with those numbers perspective. rate just me.

Kartik Mehta

I your workers. you talked wanted needing Derrek's half million maybe clients here, too in -- bit about Patrick, little about talked still a slowing the XX second jobs and of your but comments granular and comments I'm you to getting on opening, just

clients have looking just of made slowed simply people? the and pushed this second getting around kind half just accepted stopped think to your had You for statements reconcile trying is that that. down. business it you have of out? Is Or do March environment I'm you

Patrick Beharelle

on found. typically where we the happen that of digging has? themes ramp couple saw specifically some did we come roles we the into And we there's a as Or as retail quite Well, fast that didn't some as not had of thought. it

have one a halted had of And client. that past. lot situation There The construction. materials material didn't sort of was related. and It construction the got was We were that they that one supply client around first degree been delays a definitely to and where because of clients that of a lack things several retail in shortages. chain ramp same had the doing

more we lot create temporary need had full-time full-time a that of the came that towards value shift resources we heavier it and proposition their to so off of workers would of thought another they workers mix the confidence in have billing And saw And tilt billing people a attractive were resources going long and their for term. they particular to on they instance, some clients those then that client. for because

time. they from to shifted full their So temp mix

So it's of of supply little mixing bit a reasons that time, the issue were a chain space. we bit saw the little full temp shift and primary retail from a to in

Kartik Mehta

Perfect. And question. just one last

Just Is in kind year? by Or to had this now? the than going anticipated you into repurchase. with on your this get share more completed of is you line what were expecting

Derrek Gafford

about I'll This Derrek. take expected. is is that one. we This where

a defer under payroll Cares de things Act. look repurchases history, of right we allowed very taxes more kind basically were is sweet the minimis sometimes that. share had spot the take Our because working the $XX kind than year of really of to to million last we were of some to cover you average capital an if really and back our But that in repayment and

far strong cash as don't doing got we've We as well big other investments to make. debt. have any We don't is business the have really flows. that So

filed And this quarter. this this is plan the where we way, so today, be another about may we or we last -- purchased. another right the purchased that XX-Q in entered XXbX-X we also $XX a And we will By on XX as be expected. not our bit million the that

so to this $XX brings we've million repurchased far that So closer year. total our that

Operator

question Sidoti. of next line with from Marc Your comes the Riddick

Marc Riddick

and if worker of maybe little what that going thing, type a and maybe sort about do -- wondering of not was color we So how of I back just you that what I the also was was thing. do think a or whether from either to a XQ about standpoint? likely more when kind to or you pace wondering or you talking and like saw is anything you was around -- big-picture bit persist timing there if availability time supplying you the it what little either you could there. think about saw -- sort of talk But into maybe what you spend a that little should it, that

Patrick Beharelle

referring Yes, to PeopleReady? March the commented -- that you last Mark, weeks at that are couple we on of in

Marc Riddick

I believe so, yes. Yes.

Patrick Beharelle

with to commentary I'll you around do add some supply. want Derrek, start one Yes. then that and worker maybe

Derrek Gafford

Yes.

was Marc, those question weeks about just supply general? worker or So in in the

Marc Riddick

asking improvement was in supply. worker I Right. about the

predictive okay. kind of -- at and if there in through might then it about was anything Basically that Just that read be any or all?

Derrek Gafford

the to can supply, come bit. during business at expand I'll been felt Many a that When Well, impacted all. that fourth We this the seeing like work start contracting by stimulus. haven't folks it's overly want talked our time. right of in. we've of and to some we has here seen don't quarter. worker -- government We weigh about Actually, full Patrick our been

And so they make where bank account their decisions is. based on

supply I strong. know supplies this I economic to call there in would overall continue to -- if So but look continued through is the out a broader don't ours read the sense,

the and X,XXX a so grew number we're example, if the to compared weekly average of applying first it December, a for people at we entered by about look you as people that that or into for in week. quarter, basis So us on

if you to haven't of anything, side, trends that? seen supply the to worker any bit better. else anything add we So on a reversal Patrick, want

Patrick Beharelle

Yes.

the to improve. to Just reiterate of continuing that is supply Definitely, things. a I couple want

more we the at last look trends, people up Our are the hires. weekly into QX very translates XX% which weeks, through process. the applicant X in We're getting more over applicants strong growth when was

those were new unique had. up are X%, mostly driven we've up. Our that workers around by They hires

situation of handful is of are there maybe big handful demand definitely at a was -- a more a was that we of we're that So part waning. clients supply that feeling a couple not but ones that well, more pullback This X-week saw. than were clients like of of

So the into It that we're it read the than on side more supply seeing supply. demand I side. waning wouldn't was

Marc Riddick

either could the wondering little And it's activity see Okay. a there's the opportunity you about was talk I if Got more about little strong. within anything the sort around through you. be demand, to you availability an to bit overall a -- understandable and of continue that? I -- that of you. of if Got wondering which bit is then PeopleManagement there commentary to like talking driving or the maybe talk just training if could

Patrick Beharelle

up the Centerline was first is XX% the that quarter. in Well, question.

which quarter, maybe in everyone out -- one staffing, strong training driver is that And and drivers. of some nurse that's around is now get there in really very our areas hottest -- our the that. demand. than business. and is chosen staffing for listening, other just do right And investments a are So to it's certifications And driver probably things you of how and question have high that make driver go more million-dollar the

and looking to putting for we've So -- them experienced not drivers work. we're more

very pretty do area an So -- drivers a clear that you of it's focused hot anything and to we're a on. on area, you want Derrek, shortage have drivers? add

Derrek Gafford

well. think you've it covered I No,

Marc Riddick

that are the opportunity Excellent. think touched -- of any the sort more a Okay. of half for latter up have last to the if verticals could than first the or the end drivers on demand market in you be that me verticals year. of talk there if year about haven't the then maybe is little half wondering demand-wise the bit perk yet, thing And we just you

Derrek Gafford

Sure, I'll that take one.

to strong. PeopleReady. particularly our the as Retail are strong been seen to -- hospitality ones well, have that PeopleReady in I and so our we've groups business think weigh far going continue but other particularly pretty

million a jobs, these types are that rate of take to You roles. the at at are in look low a there XX lot very pay back shortages that of

retail, that has know job But the strong. openings is so number there you and into really only that not doing retail strong. bounced we huge. Hospitality all been of fits, back has get And

this business hospitality. And I contingent the to that. model with you caters mean restaurants, have really so our just well as too, suited as isn't but staffing

both comes are -- we And big those PeopleScout. to when got from for PeopleManagement, opportunities So us as areas think it seeing in at medical we've the we're some pipeline, of what out mentioned, PeopleReady, area. ahead us, there Patrick the

about well. So that we're excited as

Patrick Beharelle

solar our was materials, one, gotten which out those lot QX when just talk we reason tell of the QX. building And for just of have they I'd the clients, secured us, have with the alternative farms. the add they Marc, the the energy, pushed delays. and A from

just back pretty that half of alternative so strong a I the have see we've backlog out. been for think in installations a you'll had space And where us pushed energy

Marc Riddick

national wondering was Okay. level, for service -- if strategy. the clients was Great. there back is Or one more little that to national go think to that on bit And are accounts? the receptivity -- I national appeal versus -- if a was of about account you I about got local you I greater that bit how this me. talk will that about the I level thinking might little upside And a a to then mentioned right, centers, something evolving if is from if sense or talk last getting a wondering and I that? receptivity one maybe we -- should wanted about was accounts I be that, the and offering local -- maybe things you the for you this a about Or accounts? national to more -- remember correctly could

Patrick Beharelle

locally a it's more the that that more when people essentially to you of you that have part clients. big strategy making have number facing. client calls are are of double Well, And our out on than people

right well. pretty the you If to those tend hire out work people,

we they business. for we're very right safety safety there We've making mentioned, better learning the and appreciative clients And that very making -- that the so safe because their PP&E metrics in right the in metrics is have we're got, and that safety people the And more environment. those just pilots workers, have the past sure been business our We're workers. we've than the making it's much we're our that visits got coming match these group. as sure compare I than seeing they're that that this environment our the that feedback we're that out. for we’ve that is and local both appreciative national they're bringing need We're run a where that

getting centers good And making of hey, trying like the they're sure those is and automation from behind guys that's experience, lot a the of free out and of that to through learn to behind in scenes dollars client-facing a checking you centralization, coming cost so are I invest service out and up and in -- premise bunch having the with a and resources. and take a workers that's that then digitalization big really folks with part more switch the and efficiencies our business good feedback to really we're often saying, the just that

on you've talking which one for doing, doing hit, Marc, rationale so the And more get and of key really what is with out clients, to we're people selling business.

Operator

to turn this further time. CEO, for closing I'll are The no call back Beharelle, questions the remarks. Patrick at

Patrick Beharelle

call, TrueBlue Well, we will on and great the July. for they're thanks, joining late the to again thanks for that you in our that look doing, place today's all all associates earnings everyone, and speaking call QX take forward work to with

So stay safe, everyone.

Operator

concludes call. Thank you This conference for joining. today's

You disconnect. may now

TrueBlue (TBI) 25 Apr 222022 Q1 Earnings call transcript