HireQuest Approves $20M Share Repurchase Program
HireQuest announced that its Board of Directors has approved a share repurchase program that authorizes the company to repurchase up to $20M of its outstanding shares of common stock. HireQuest intends to begin the Repurchase Program and enter into a corresponding 10b5-1 plan as soon as reasonably possible. The Repurchase Program will expire twelve months after its starting date.
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HireQuest Approves $20 Million Share Repurchase Program
- Repurchase Program Launch: HireQuest's Board of Directors has approved a share repurchase program authorizing up to $20 million, set to commence soon and expire within 12 months, aimed at enhancing shareholder value and demonstrating confidence in the company's long-term strategy.
- Commitment to Capital Management: CEO Rick Hermanns stated that the share repurchase is the best and most efficient use of capital at this time, reflecting management's confidence in the company's future while providing capital returns to shareholders.
- Flexible Repurchase Methods: The program allows for share repurchases through various methods including open market purchases, privately negotiated transactions, and block purchases, with the timing and quantity of purchases dependent on market conditions and stock price, showcasing the company's operational flexibility.
- Future Growth Potential: Shares repurchased may be reissued for employee benefit plans and other corporate purposes, which not only helps boost employee morale but also potentially enhances the company's competitive position in the industry, fostering future business growth.
2026 U.S. Labor Market Outlook: HireQuest Predicts a Year of Reset, Reallocation and Stabilization
2026 Labor Market Outlook: The labor market is expected to stabilize in 2026, with a focus on skilled work and flexible contract roles, as employer and employee demands align more closely.
Key Trends Influencing Hiring: Factors such as AI and automation, reshoring, and economic shifts are shaping hiring practices, with a notable rise in demand for skilled roles in manufacturing, healthcare, and technology.
Worker Preferences: Workers are prioritizing local job opportunities and flexibility over relocation, with a significant number of staffing offices reporting stable or improved fill rates.
Sector-Specific Growth: Growth is anticipated in sectors requiring human skills, particularly in manufacturing, healthcare, and logistics, while administrative roles may see slower growth due to automation.
