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HireQuest, Inc. (HQI)
NASDAQ:HQI
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Earnings Data
Report Date
Mar 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.19Last Year’s EPS
$0.03Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 3.58%
|Next Earnings Date:Mar 20, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture, with some positive indicators such as sequential revenue growth and expense management, but also significant challenges including a decline in system-wide sales and a substantial noncash impairment charge that affected profitability. The company's optimism about future demand and their ability to manage expenses provides some positive outlook, yet the current financial setbacks cannot be overlooked.Company Guidance
During the HireQuest Inc. third-quarter 2024 earnings call, CEO Richard Hermanns highlighted various key metrics and trends. Total revenue saw a slight increase to $9.4 million, up 1.6% from the previous year, with franchise royalties contributing $9 million to this total. System-wide sales for temporary staffing brands grew by 3.6% year-over-year, despite an overall decrease due to a $6.5 million decline in professional recruiting and staffing. The company also achieved an 8.5% sequential revenue growth from the second quarter of 2024. SG&A expenses were reduced by over 15% compared to the same quarter in 2023, largely due to a significant 67% decrease in workers' compensation expense. Despite a one-time noncash impairment charge of $6 million affecting profitability, adjusted net income rose by 29% year-over-year. Adjusted EBITDA improved to $4.9 million, with a margin increase to 52%. These results reflect the strength of HireQuest’s franchise model amidst a challenging economic environment and position the company for potential growth as market conditions stabilize.Sequential Revenue Growth
The company reported a sequential revenue growth of 8.5% compared to the second quarter of 2024 as the market for temporary staffing solutions began to stabilize.
SG&A Expense Reduction
SG&A expenses were reduced by over 15% in the third quarter when compared to the third quarter of 2023, primarily due to a decrease in workers' compensation expense.
Adjusted Net Income Increase
Adjusted net income in the quarter increased 29% compared to the third quarter of 2023, excluding a onetime noncash impairment charge.
Adjusted EBITDA Improvement
Adjusted EBITDA in the third quarter of 2024 was $4.9 million, compared to $3.7 million in the prior year period, with an adjusted EBITDA margin of 52%.
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HQI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HQI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $13.82 | $14.16 | +2.46% |
| Aug 08, 2024 | $12.24 | $13.52 | +10.46% |
| May 09, 2024 | $12.76 | $11.75 | -7.92% |
| Mar 21, 2024 | $12.35 | $12.20 | -1.21% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does HireQuest, Inc. (HQI) report earnings?
HireQuest, Inc. (HQI) is schdueled to report earning on Mar 20, 2025, TBA Not Confirmed.
What is HireQuest, Inc. (HQI) earnings time?
HireQuest, Inc. (HQI) earnings time is at Mar 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HQI EPS forecast?
HQI EPS forecast for the fiscal quarter 2024 (Q4) is $0.19.
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