Hirequest Inc
NASDAQ:HQI
Hirequest Inc
HireQuest, Inc. engages in the provision of staffing services. The company is headquartered in Goose Creek, South Carolina. The company went IPO on 2002-05-07. The firm through its franchisees provides various types of temporary personnel through two business models operating under the trade names HireQuest Direct, HireQuest, Snelling, LINK Staffing, and DriverQuest. Its HireQuest Direct offers unskilled and semi-skilled industrial and construction personnel. Its HireQuest, Snelling, and Link offers skilled and semi-skilled industrial personnel, clerical and administrative personnel, and permanent placement services. DriverQuest specializes in commercial drivers serving a variety of industries and applications. The firm provides employment in the areas of construction, recycling, warehousing, logistics, auctioneering, manufacturing, hospitality, landscaping, and retail.
HireQuest, Inc. engages in the provision of staffing services. The company is headquartered in Goose Creek, South Carolina. The company went IPO on 2002-05-07. The firm through its franchisees provides various types of temporary personnel through two business models operating under the trade names HireQuest Direct, HireQuest, Snelling, LINK Staffing, and DriverQuest. Its HireQuest Direct offers unskilled and semi-skilled industrial and construction personnel. Its HireQuest, Snelling, and Link offers skilled and semi-skilled industrial personnel, clerical and administrative personnel, and permanent placement services. DriverQuest specializes in commercial drivers serving a variety of industries and applications. The firm provides employment in the areas of construction, recycling, warehousing, logistics, auctioneering, manufacturing, hospitality, landscaping, and retail.
Profitability: HireQuest reported net income of $2.3 million, or $0.16 per share, marking another profitable quarter despite industry headwinds.
Revenue Decline: Total revenue dropped to $8.5 million, down 9.8% year-over-year, reflecting continued softness in the staffing market.
Cost Control: Core selling, general and administrative expenses remained flat year-over-year, highlighting effective cost management.
Day Labor & Temp Staffing: These segments showed signs of stabilization, with some weeks in the fourth quarter so far outperforming the previous year.
Franchise Model Strength: The company’s franchise model continues to support profitability even in soft markets, setting HireQuest apart from peers.
M&A Pipeline: Management is actively exploring accretive acquisitions, noting plenty of potential opportunities in the current environment.
Dividend Commitment: The company paid a $0.06 quarterly dividend and expects to continue doing so.
