Yeah nice results on BGSF despite Q1 being seasonally their weakest quarter. Adjusted Q1 earnings of .26/share from cont operations vs .04/share last year. Q1 revenues from cont operations up 38%. CEO sounds bullish on the rest of the year (below). Like how revenues improved throughout the quarter. The HSII selloff seemed way overdone, altho I didn't check the CC transcript. If BGSF doesn't do much tomorrow because of this lousy market...I'll gladly be adding more with the 5% dividend yield.
From today's earnings PR-
"Our first quarter results are a great start to 2022 as we build on the momentum created throughout 2021. Revenues improved sequentially throughout the quarter, and first quarter’s results exceeded our expectations in both the Professional and the Real Estate division," said Beth A. Garvey, President and CEO.
"With strong first quarter results, we are optimistic in our outlook for 2022. For the Real Estate segment, we expect a continued market recovery and tailwinds from pent-up demand, and for the Professional segment, we anticipate continued increases and strong activity in IT Consulting and Managed Services sectors.
"We are optimistic about our business prospects for 2022 and are operationally and financially well-positioned for growth during the remainder of the year and beyond. The sale of our Light Industrial segment earlier this year allowed us to reduce debt, while investing more time, energy, and capital into higher margin business. The Board of Directors approved our 30th consecutive quarterly dividend payment, of $0.15 per share, signaling confidence in our strategic initiatives and abilities to generate significant cash flow. Looking ahead, we remain enthusiastic about our enhanced IT infrastructure, momentum in our business segments, and strong market position," concluded Garvey.
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