BGSF, Inc. Reports First Quarter 2024 Financial Results Generated $7.4 Million of Operating Cash Flow • Revenues were $68.8 million for 2024, compared to $75.3 million for 2023. Beth A. Garvey, Chair, President, and CEO, said, "Our first quarter results aligned with expectations, and we are encouraged by recent activity in higher-end consulting. The Professional division has experienced meaningful progress each month this year with IT consulting and other IT-related tool deployments, and we are benefiting f ...

Upon dissolution of our company, you may not recoup all or any portion of your investment. • a classified board of directors with three-year staggered terms; • the ability of our board of directors to issue shares of preferred stock and to determine the price and other terms, including preferences and voting rights, of those shares without stockholder approval; • stockholder action can only be taken at a special or regular meeting and not by written consent except in limited circumstances; • advance notice ...

PLANO, Texas--(BUSINESS WIRE)--BGSF, Inc. (NYSE: BGSF), a growing provider of consulting, managed services, and professional solutions, today announced that Beth Garvey, Chair, President, and Chief Executive Officer, and John Barnett, Chief Financial Officer, will participate in the 36th Annual Roth Conference on March 18-19, 2024, in Laguna Niguel, CA. Investors interested in arranging a one-on-one meeting should contact your conference representative or the Company’s investor relations contacts below. Ab ...

Financial Data and Key Metrics Changes - Adjusted EBITDA from continuing operations increased by 15.9% to $25 million compared to $21.7 million in the previous year, with an adjusted EBITDA margin growth from 7.3% in 2022 to 8% in 2023 [4] - Total revenue for 2023 was $313.2 million, up 4.9% on an as-reported basis, and 7% on a same-day basis compared to adjusted 2022 [27][22] - Gross profit for the year was $112 million, an 8% increase from the prior year, with gross margins at 35.7%, up 100 basis points from 2022 [29] Business Line Data and Key Metrics Changes - Professional revenue for the year increased by 6.1% on an as-reported basis and 8% on a same-day basis, driven by acquisitions [28] - Property Management revenue increased by 3.3% on an as-reported basis and 5% on a same-day basis [29] - Organic professional business is estimated to have declined in the mid-teens percentage-wise, indicating challenges in that segment [31] Market Data and Key Metrics Changes - The CEO Confidence Index reached its highest level since 2021, indicating optimism in the U.S. business environment [25] - The company is experiencing increased competition in the property management sector, with more players entering the market [50] Company Strategy and Development Direction - The company is focusing on leveraging technology and partnerships with leading firms like Workday, ServiceNow, and Microsoft to enhance service offerings [24][35] - Strategic repositioning towards higher value consulting and management solutions is expected to drive long-term success and shareholder value [35] - The company plans to utilize a proprietary territory mapping tool to improve sales force deployment in property management [44] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about 2024, citing a growing opportunity pipeline and improved economic conditions [31][25] - The company is focused on execution and aligning its operations post-acquisitions, with no immediate plans for further acquisitions in 2024 [33][67] - Management acknowledged the need to adapt to increased competition and changing market dynamics [38] Other Important Information - The company reported a one-time $22.5 million pretax noncash brand name impairment charge related to rebranding efforts [30] - Operating income increased to $3.2 million from $2.8 million in the prior year quarter, driven by lower SG&A expenses [32] Q&A Session Summary Question: Insights on the Professional segment and CEO survey uptick - Management noted optimism in the professional group, indicating a positive trend in business pipeline [11] Question: Progress on Royal acquisition and near-shoring/off-shoring - Management highlighted the robust capabilities of the Royal team and the development of AI products to meet customer needs [13][14] Question: Future growth in Property Management segment - Management expressed hope for returning to double-digit growth, while acknowledging current economic concerns [19] Question: Competition in Property Management - Management noted increased competition but emphasized the importance of relationships in the business [50] Question: Current appetite for M&A - Management indicated a cautious approach to acquisitions, focusing on execution and leveraging existing capabilities [67]

PLANO, Texas--(BUSINESS WIRE)--BGSF, Inc. (NYSE: BGSF), a growing provider of consulting, managed services, and professional workforce solutions, today reported financial results for its fiscal year and fourth fiscal quarter ended December 31, 2023. Note: Fiscal 2023 financial results are on a 52-week year ended December 31, 2023, compared to Fiscal 2022 financial results on a 53-week year ended January 1, 2023. Full Year 2023 Highlights from Continuing Operations2,3: Revenues were $313.2 million, up 4. ...

BGSF, Inc. Reports Full Year and Fourth Quarter 2023 Financial Results Record Full Year Revenues of $313.2 million, up 4.9% Generated $20.4 Million of Operating Cash Flow New Credit Facility Closed March 12, 2024 PLANO, Texas – (March 13, 2024) – BGSF, Inc. (NYSE: BGSF), a growing provider of consulting, managed services, and professional workforce solutions, today reported financial results for its fiscal year and fourth fiscal quarter ended December 31, 2023. Note: Fiscal 2023 financial results are on a 5 ...

PLANO, Texas--(BUSINESS WIRE)--BGSF, Inc. (NYSE: BGSF) (“BGSF”), a growing provider of consulting, managed services, and professional workforce solutions, announced that Beth Garvey has recently been recognized by the Staffing Industry Analysts (SIA) Staffing 100 North America list as one of North America’s most influential staffing leaders for 2024. John Barnett, Chief Financial Officer at BGSF, stated, "Beth Garvey's leadership has been pivotal in shaping BGSF's culture and impact, both within our organi ...

PLANO, Texas--(BUSINESS WIRE)--BGSF, Inc. (NYSE: BGSF) (“BGSF”), a growing provider of consulting, managed services, and professional workforce solutions, announced it has been named a Workday Partner. Workday (NASDAQ: WDAY) is a leading provider of enterprise cloud applications for finance and human resources. BGSF has consistently demonstrated its commitment to meeting customers' demands for Workday talent. Through a robust network of highly skilled consultants and an in-depth understanding of the Work ...

PLANO, Texas--(BUSINESS WIRE)--BGSF, Inc. (NYSE: BGSF), a leading national provider of workforce solutions, today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share of common stock. The dividend is payable on February 27, 2024, to all shareholders of record as of the close of business on February 20, 2024. This marks the 37th consecutive quarterly dividend and based on the yesterday's closing price of the Company’s common stock, the annualized yield is approxima ...

champc Introduction I'm constantly looking for undervalued microcap companies, and recently I came across BGSF (NYSE:BGSF). It’s a US consulting and staffing solutions firm which has been focusing on improving margins over the past few years, and the adjusted TTM EBITDA stands at $23.9 million. BGSF has a dividend yield of $6.3 million and the balance sheet looks strong, with net debt at $66 million on October 1. I’m putting BGSF on my watchlist and my rating on the stock is a speculative buy. Let’s rev ...