TrueBlue, Inc. (NYSE: TBI)

TrueBlue, Inc. began operations in 1989 and is a leading provider of specialized workforce solutions that connect employers with talent. The company delivers total workforce solutions through a national footprint, extensive talent network, deep local market insight and global recruitment process outsourcing reach, helping clients improve quality, streamline operations and meet evolving talent demands. It serves a broad range of industries including construction, manufacturing, logistics, hospitality and energy by supplying temporary, temp to hire and skilled workers as well as managing contingent workforce programs.

TrueBlue generates revenue by providing staffing and workforce services, including on demand labor, skilled trades placement, industrial staffing, commercial driver solutions, recruitment process outsourcing, managed service provider offerings and talent advisory. Fees are based on hourly rates, productivity based pricing, per hire charges or consulting fees, varying with geography, job type and volume of services delivered. The company’s revenue streams are diversified across its three operating segments, each contributing to the overall top line through contracts with businesses seeking flexible labor and talent acquisition support.

The company operates through the following segments: PeopleReady, PeopleManagement and PeopleSolutions.

• PeopleReady: Provides on demand general temporary and temp to hire workers, as well as skilled tradespeople via the PeopleReady Skilled Trades and RenewableWorks brands, serving industries such as construction, transportation, manufacturing, retail, hospitality and energy through a network of branches across all 50 states and Puerto Rico and the JobStack mobile app, with staffing handled using the Stafftrack software. The segment focuses on short term assignments that can range from a single associate to hundreds of workers, allowing clients to adjust their workforce quickly in response to fluctuating demand.

• PeopleManagement: Supplies and manages contingent associates at client facilities through the Staff Management|SMX and SIMOS brands, offering recruiting, screening, hiring and workforce management for labor intensive manufacturing, warehousing and distribution, and provides commercial driver solutions via the Centerline brand with flexible driver, driver management and mobile driver options, using hourly or productivity based pricing and the Stafftrack platform. This segment emphasizes multi site multi year engagements where dedicated teams work alongside client employees to improve productivity and control labor costs.

• PeopleSolutions: Delivers professional talent acquisition, workforce management and compliance services, including recruitment process outsourcing, managed service provider and talent advisory through the PeopleScout brand, and healthcare staffing via the HSP brand offering short term, long term temporary and permanent placements, supported by the Affinix technology platform, primarily in the United States, Canada, the United Kingdom and Australia. The segment focuses on long term talent strategy projects, providing scalable recruitment solutions that help clients lower hiring costs while improving candidate experience and employer branding.

TrueBlue holds a strong position in the fragmented staffing and human resource outsourcing industries, competing with local and regional staffing firms, online platforms and other RPO providers, while differentiating itself through its service history, specialized industry focus, proprietary mobile apps such as JobStack and Stafftrack, national scale, technology investment and safety and compliance programs. The company’s competitive advantages include its ability to quickly fill orders, its deep relationships with clients across multiple sectors and its investment in data driven tools that enhance recruiter efficiency and candidate matching.

The company serves approximately 53,000 customers ranging from small businesses to Fortune 100 enterprises in sectors including construction, manufacturing, logistics, warehousing, distribution, waste and recycling, energy, transportation, retail, hospitality and general labor, with its ten largest customers accounting for 26.2% of revenue in fiscal 2025 and no single client exceeding 10% of total sales. This diversified client base reduces reliance on any single account and provides stability across economic cycles, while the company continues to pursue growth by expanding into high value roles and under penetrated markets such as technology, professional services and renewable energy.