BG Staffing announces Q3 adjusted EPS of 8 cents, up from 1 cent in the previous quarter.
Q3 Revenue Decline: BGSF reported Q3 revenue of $26.9 million, down from $29.8 million the previous year.
Shareholder Returns: Following the sale of its Professional division, BGSF announced a $2 per share special dividend and a stock buyback plan of up to $5 million.
Transition Services Agreement: The company is executing a Transition Service Agreement to support INSPYR's integration of the business, which will last up to six months.
Future Financial Outlook: BGSF anticipates that its financial results will be somewhat inconsistent in the upcoming quarters as it transitions to a streamlined, Property Management-focused structure.
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BGSF: Overview of Q3 Earnings
Company Financial Performance: BGSF, Inc. reported a loss of $5.8 million in its third quarter, translating to a loss of 52 cents per share, with adjusted losses of 28 cents per share when accounting for discontinued operations.
Revenue and Stock Performance: The staffing company generated revenue of $26.9 million during the quarter, while its stock price has significantly declined from $7.70 a year ago to $3.27.
BG Staffing announces a special dividend of $2.00
Special Dividend Announcement: BG Staffing (BGSF) has declared a special dividend of $2.00 per share.
Payment Details: The dividend is payable on September 30, with shareholders of record on September 23, and the ex-dividend date is October 1.
