Barrett Business Services ( (BBSI) ) has released its Q3 earnings. Here is a breakdown of the information Barrett Business Services presented to its investors.
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Barrett Business Services, Inc. (BBSI) is a provider of business management solutions, integrating human resource outsourcing and professional management consulting, and operates across all 50 states in various sectors. In the third quarter of 2024, BBSI reported an 8% increase in revenue to $294.3 million and a net income of $19.6 million, reflecting a strong financial performance. The company also achieved a 9% rise in gross billings, driven by growth in professional employer services, and maintained a debt-free status. BBSI also repurchased $8 million of stock and paid $2.1 million in dividends, demonstrating a commitment to returning capital to shareholders. Looking forward, BBSI remains optimistic about continuing its growth trajectory into 2025, with expectations of a 7% to 8% increase in gross billings and a stable gross margin.
