BGSF Inc
NYSE:BGSF
BGSF Inc
BGSF, Inc. engages in the provision of staffing services. The company is headquartered in Plano, Texas and currently employs 400 full-time employees. The company went IPO on 2014-03-20. Its segments include Real Estate and Professional. The Real Estate segment provides office and maintenance field talent to various apartment communities and commercial buildings in approximately 35 states and D.C., through property management companies, which are responsible for the apartment communities and commercial buildings day-to-day operations. The Real Estate segment operates through two divisions, such as BG Multifamily and BG Talent. The Professional segment provides information technology (IT) professionals with expertise in SAP, Workday, Peoplesoft, Hyperion, Oracle, One Stream, cyber, project management, and other IT workforce solutions to client partners on a national basis. The Professional segment operates through three divisions, such as IT Consulting, IT Infrastructure & Development, and Finance and Accounting under various trade names including Extrinsic, American Partners, Donovan & Watkins and others.
BGSF, Inc. engages in the provision of staffing services. The company is headquartered in Plano, Texas and currently employs 400 full-time employees. The company went IPO on 2014-03-20. Its segments include Real Estate and Professional. The Real Estate segment provides office and maintenance field talent to various apartment communities and commercial buildings in approximately 35 states and D.C., through property management companies, which are responsible for the apartment communities and commercial buildings day-to-day operations. The Real Estate segment operates through two divisions, such as BG Multifamily and BG Talent. The Professional segment provides information technology (IT) professionals with expertise in SAP, Workday, Peoplesoft, Hyperion, Oracle, One Stream, cyber, project management, and other IT workforce solutions to client partners on a national basis. The Professional segment operates through three divisions, such as IT Consulting, IT Infrastructure & Development, and Finance and Accounting under various trade names including Extrinsic, American Partners, Donovan & Watkins and others.
Divestiture & Cash: BGSF completed the sale of its Professional division for $96.5 million plus a $2.5 million working capital adjustment, using proceeds to pay off $46 million in debt and return $22.4 million to shareholders via a special dividend.
Buyback Announcement: The Board approved a $5 million stock buyback, citing confidence in the company's long-term strategy.
Q3 Revenue Decline: Property Management revenues were $26.9 million, down 9.8% year-over-year due to cost pressures and competition, but up 14.4% sequentially from seasonal demand.
Profitability: Gross margin held steady at 35.9%. Adjusted EBITDA rose to $980,000 (3.6% of revenue) from $75,000 (0.3%) a year ago.
Cost Reduction Plan: Management targets annual G&A reductions to approximately $11 million, including public company costs, following the TSA period ending in early 2026.
Strategic Review: An independent review confirmed a $1 billion-plus addressable market and identified areas for operational improvements and growth.
AI & Technology: Continued investments in tools and AI aim to speed up sales and hiring, with rollout ongoing over the next two quarters.
