Barrett Business management to virtually meet with Barrington » 14:1505/2805/28/20
Virtual Meetings to be…
Virtual Meetings to be held on June 3-4 hosted by Barrington.
|Over a week ago|
Barrett Business withdraws FY20 guidance amid COVID-19 pandemic » 16:2105/0505/05/20
Due to the heightened…
Due to the heightened uncertainty created by COVID-19, including the virus' duration and the length of disparate stay-at-home orders, BBSI is withdrawing its full-year outlook. The company will provide April results on its conference call to assist in evaluating how the pandemic is affecting its business so far in the Q2. The company said, "BBSI is well-positioned to navigate this crisis from a position of strength. Our balance sheet is strong with nearly $100 million in free cash and short-term investments and no borrowings on our line of credit. Our first quarter gross billings showed good growth and resilience despite the impact of COVID-19 headwinds on same-customer growth during the final few weeks of the quarter. While we expect our current environment to remain challenging in the near-term, we believe our product has never been more relevant to the business owner, and we are quite optimistic that we will be able to gain market share as the economy returns to normalcy."
Barrett Business reports Q1 EPS (45c), consensus (29c) » 16:1905/0505/05/20
Reports Q1 revenue…
Reports Q1 revenue $219.1M, consensus $228.4M. "The events that unfolded over the past two months due to the COVID-19 pandemic have been unprecedented," said Gary Kramer, BBSI's president and CEO. "On behalf of all BBSI employees, our thoughts are with all those affected. As a leader in providing HR and professional management services to over 7,000 small businesses, we have a unique window into the issues facing main street. We are leveraging our strong human and financial capital to help our clients navigate this difficult environment. At the same time, we are taking care of our own employees, implementing work-at-home mandates while maintaining the level of service our clients demand, particularly in today's environment.
|Over a month ago|
BBSI appoints Michael Saverien as executive director, sales and distribution » 08:4204/0804/08/20
Barrett Business Services…
Barrett Business Services (BBSI) has appointed Michael Saverien to the newly created position of executive director of sales and distribution, effective April 6th. He will be reporting to BBSI's COO, Gerald Blotz. Most recently, he was with CorVel Corporation (CRVL) for over 16 years, with his last role being executive vice president of risk management services. In his new role, Saverien will oversee a variety of sales-related functions, including working with the Company's referral partners and internal operational teams. He will play a key role in developing and driving sales strategies to generate new clients, along with expanding BBSI's current markets.
Barrett Business announces retirement of CEO Elich, CFO Kramer to succeed » 16:3803/0503/05/20
Barrett Business Services…
Barrett Business Services announced the retirement of Michael Elich as Chief Executive Officer. Mr. Elich is also retiring from the company's Board of Directors. Elich's retirement is aligned with the Board's management succession and transition process that has been under discussion for several months. As part of this process, Gary Kramer, BBSI's current Chief Financial Officer, has been appointed CEO and Anthony Harris, BBSI's current Executive Director of Accounting and Finance and Controller, has been appointed CFO. Elich joined BBSI in 2001 and was appointed as CEO in 2011. "Mike transformed many facets of the company during his tenure as CEO, as the company grew from $1.5 billion in gross billings to almost $6 billion at the end of 2019," said Anthony Meeker, Chairman of the Board. "Mike leaves behind a strong company with a strong culture, and I am thankful for his efforts and wish him well in retirement. I am also pleased to announce that Gary Kramer will assume the role of CEO. He joined BBSI in 2016 and has proven to be a great leader with a focus on developing and executing successful strategies. I am certain that Gary will build on this success as CEO."
|Over a quarter ago|
Barrett Business price target lowered to $102 from $118 at Roth Capital » 08:5302/2702/27/20
Roth Capital analyst Jeff…
Roth Capital analyst Jeff Martin lowered the firm's price target on Barrett Business to $102 from $118 and keeps a Buy rating on the shares. The analyst believes the recent pullback in the shares presents an "attractive opportunity." Martin argues that the short-term reaction to 2020 guidance ignores the strength in the balance sheet and "solid" footing of the company's core operations. Further, he believes growth acceleration potential improves significantly following a successful launch and onboarding of clients onto the company's new portal in July this year.
Barrett Business sees FY20 EPS $5.05, consensus $6.13 » 16:2902/2502/25/20
This includes an increase…
This includes an increase in SG&A of $5.5M, or 56c in earnings per diluted share, for the planned launch of mybbsi.com, the company's new and improved customer portal. This also assumes an effective tax rate of approximately 20%.
Barrett Business reports Q4 EPS $1.51, consensus $1.28 » 16:2802/2502/25/20
Reports Q4 revenue…
Reports Q4 revenue $245.15M, consensus $252.45M.
Adtalem, Tivity, Virtusa among Barrington's Best Ideas for 2020 » 10:0601/0701/07/20
ATGE, TVTY, BBSI, CSV, CRAI, CMCO, DLB, KAR, LAUR, NXST, SP, VRTU
Barrington announced its…
Barrington announced its Best Ideas List for 2020. The names are Adtalem Global Education (ATGE), Barrett Business Services (BBSI), Carriage Services (CSV), CRA International (CRAI), Columbus McKinnon (CMCO), Dolby (DLB), KAR Auction (KAR), Laureate Education (LAUR), Nexstar Media Group (NXST), SP Plus (SP), Tivity Health (TVTY) and Virtusa (VRTU).
Roth Capital to hold a conference » 04:5512/1512/15/19
AOBC, AVCO, BBSI, BNGO, IRMD, FC, NBEV, WATT, EAST, DCTH, BOOM, CLAR, JRSH, MCHX, JYNT, SOLY, SMSI, PWFL, OSIS, LOVE, VERI, WTER
8th Annual ROTH Deer…
8th Annual ROTH Deer Valley Conference will be held in Deer Valley, Utah on December 11-15.