Acquisition OpportunitiesHireQuest is beginning to see more reasonably priced acquisition opportunities in the current demand environment as potential sellers are becoming more realistic about the selling price of their businesses.
Financial PerformanceWorkers’ compensation costs, which were a significant headwind to profitability throughout 2023, decreased sequentially to approximately $0.6 million in Q1/24 from $1.3 million in Q4/23.
Market PositionHireQuest has generally fared better than its competitors in the slower demand environment due to its concentration in the southern U.S., which has been more resilient to economic headwinds than other regions thus far.