TrueBlue Executes Strategic Plan for Sustainable Profit Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 08 2026
0mins
Should l Buy TBI?
TrueBlue issued the following statement in response to the comments made by, and nominations from, EHS Management: "TrueBlue is executing a disciplined and decisive plan that is leading to improved financial results, and the Company is well on its way to returning to sustainable, profitable growth. Under our strategic plan, TrueBlue has strengthened performance in attractive end markets, particularly within skilled businesses, while streamlining our cost structure to deliver stronger leverage and enhanced profitability. We also continue to demonstrate digital leadership with enterprise-wide enhancements to our proprietary technology platforms driving faster, more precise and transparent workforce solutions. This reflects our ongoing commitment to improved profitability through operational efficiency, technology leverage and sustainable margin expansion. With continued disciplined execution, TrueBlue is well-positioned to capitalize on a large, fragmented staffing market and deliver greater shareholder value as the market recovers. The Board is committed to effective corporate governance and to positioning TrueBlue for long-term success. Over the past several years, TrueBlue has thoughtfully evolved the composition of its Board to align with the Company's strategic priorities, enhance diversity of experience, and strengthen oversight capabilities across key areas, such as technology, workforce solutions, and operations. The Board dedicated months to engaging with shareholders to inform its most recent refreshment process, which resulted in the appointments of William Greenblatt and William Seward, two highly qualified professionals with decades of industry experience and proven operational and commercial expertise. TrueBlue also announced that two existing directors will step down from the Board at or before the 2026 Annual Meeting of Shareholders. These appointments and planned retirements - which were endorsed by TrueBlue's largest shareholder - reflect TrueBlue's ongoing commitment to evolving the composition of its Board to strengthen operational oversight, accelerate growth and transformation, and incorporate shareholder feedback. As part of this refreshment process, the Board and leadership team engaged substantively with Eric Su of EHS to articulate the changes underway. In fact, the Board made Eric Su aware of its refreshment plans, well in advance of Mr. Su publicly stating that he intended to nominate directors to the TrueBlue Board. As part of those constructive efforts, the Board interviewed numerous candidates, including Mr. Su, and ultimately determined that William Greenblatt and William Seward are superior directors with the right skill sets to advance the Company's strategy and enhance the value of TrueBlue. It is unfortunate that EHS is now waging a costly and disruptive proxy contest when change and momentum are already in progress under the direction of the Board. Today, the TrueBlue Board of Directors comprises qualified professionals with deep industry, operational and financial expertise. Together, these directors bring experience and perspectives critical to executing TrueBlue's long-term growth strategy. The TrueBlue Board and management team are committed to serving the best interests of all our shareholders. We remain open to constructive feedback, and we will continue to take actions that drive long-term value creation for all our shareholders."
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Analyst Views on TBI
Wall Street analysts forecast TBI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TBI is 6.00 USD with a low forecast of 6.00 USD and a high forecast of 6.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 5.490
Low
6.00
Averages
6.00
High
6.00
Current: 5.490
Low
6.00
Averages
6.00
High
6.00
About TBI
TrueBlue, Inc. provides specialized workforce solutions. Its segments include PeopleReady, PeopleScout and PeopleManagement. The PeopleReady segment provides on-demand and skilled labor in a range of industries that include construction, transportation, manufacturing, retail, hospitality and energy. The PeopleScout segment provides permanent employee recruitment process outsourcing, employer branding services and management of outsourced labor service providers through the segments: PeopleScout recruitment process outsourcing (RPO), which outsourced recruitment of permanent employees on behalf of clients and employer branding services, and PeopleScout managed service provider (MSP), which manages multiple third-party staffing vendors on behalf of clients. PeopleManagement segment offers contingent, on-site industrial staffing and commercial driver services. Its Healthcare Staffing Professionals offer long-term and permanent staffing solutions primarily focused on healthcare positions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
TrueBlue Executes Strategic Plan to Enhance Profitability
- Financial Performance Improvement: TrueBlue is executing a disciplined strategic plan that has strengthened performance in attractive markets, particularly in skilled sectors, thereby driving a return to sustainable profitable growth.
- Cost Structure Optimization: By streamlining its cost structure, the company has enhanced profitability and leverage, indicating a strengthened market position in the competitive staffing industry.
- Board Refreshment: After months of engaging with shareholders, TrueBlue appointed two new directors with extensive industry experience to enhance operational oversight and accelerate company transformation.
- Digital Leadership: The enterprise-wide enhancements to the company's technology platforms are driving faster, more precise, and transparent workforce solutions, further solidifying its digital leadership in the industry.
See More
EHS Management Nominates New Directors to Strengthen TrueBlue Board Expertise
- New Board Members: EHS Management welcomes the addition of two new directors to TrueBlue's board, which underscores broad recognition of the issues raised, yet further enhancements are necessary to improve board expertise and shareholder value.
- Experience Gaps: TrueBlue's board lacks seasoned independent staffing executives, digital platform leaders, and capital allocation expertise, which are critical for reversing the company's ongoing loss of market share.
- Shareholder Involvement: EHS Management believes shareholders should determine the level of board refreshment needed to ensure that new candidates' skills can enhance the board's capabilities and independence to better address the challenges facing the company.
- Nominated Candidates: EHS Management has nominated three candidates with extensive industry experience, focusing on staffing excellence, digital transformation, and disciplined capital allocation, aiming to fill the skills gaps on the board and drive long-term success for the company.
See More
EHS Management Nominates New Directors to Enhance TrueBlue Board Expertise
- New Board Members: EHS Management welcomes the addition of two new directors to TrueBlue's board, which is seen as a positive change; however, significant gaps in experience and expertise remain, potentially hindering the release of long-term value.
- Need for Board Refresh: EHS points out that TrueBlue has not disclosed which incumbent directors will step down for the new additions, suggesting this may be a tactic by long-tenured directors to maintain the status quo rather than a genuine commitment to change.
- Shareholder Rights: EHS emphasizes that shareholders should have the right to decide the extent of board refreshment needed to ensure that new candidates' skills can enhance the board's capabilities and the quality of independent oversight.
- Nominated Candidates: The three nominees put forward by EHS possess extensive industry experience and focus on staffing excellence, digital transformation, and disciplined capital allocation, aiming to address the skills gaps on the board and drive TrueBlue's long-term success.
See More
TrueBlue Launches AI Bill Rate Feature to Enhance Staffing Efficiency
- AI Bill Rate Feature: TrueBlue has launched an AI-enabled bill rate feature within its JobStack app, providing personalized bill rates in seconds, which helps businesses make staffing decisions faster and more accurately, thereby enhancing customer satisfaction.
- Commitment to Technology: This feature underscores TrueBlue's commitment to leveraging technology for smarter workforce solutions, not only enhancing staffing speed and accuracy but also creating greater value for both customers and the talent served, thereby boosting the company's competitive edge in the market.
- Data-Driven Decision Making: JobStack offers fast, data-informed guidance by factoring in job details, location, current market pay conditions, and historical fill performance, enabling businesses to make more confident staffing decisions and improving overall recruitment efficiency.
- Optimized Talent Matching: JobStack continues to leverage PeopleReady's AI-powered ReadyMatch™ technology, evaluating millions of data points to identify best-fit workers, which reduces time-to-fill and ensures businesses receive the right talent with responsive and reliable service across all 50 states.
See More
TrueBlue Appoints Two New Directors to Enhance Long-Term Growth Strategy
- New Board Members: TrueBlue has appointed William Greenblatt and William Seward to its Board effective January 5, 2026, aiming to leverage their extensive experience to drive long-term growth and client success.
- Industry Pioneer: William Greenblatt, recognized as a pioneer in the background screening industry, founded Sterling Infosystems and led its significant global expansion, which is expected to bring innovation and strategic guidance to TrueBlue.
- Operational Expert: William Seward, with over 30 years of global operations experience and a background in senior roles at UPS, is anticipated to enhance TrueBlue's operational efficiency and market competitiveness through his expertise in logistics and supply chain management.
- Board Structure Optimization: This appointment is part of TrueBlue's ongoing effort to refresh its Board composition, with plans to replace two existing directors before the 2026 Annual Meeting, thereby strengthening corporate governance and strategic execution capabilities.
See More
EHS Nominates Directors to Address TrueBlue's Operational Decline
- Need for Board Change: EHS Investments plans to nominate new directors at the 2026 Annual Meeting to address TrueBlue's ongoing operational and financial deterioration, reflecting the company's stock price nearing all-time lows and the urgent need for substantive change at the board level.
- Poor Financial Performance: Despite TrueBlue's Q3 report showing a $49 million revenue increase, gross profit decreased by $2 million due to cost pass-through accounting, indicating ongoing challenges in core operations that require urgent financial health improvements.
- Cash Flow Crisis: TrueBlue burned $17 million in free cash flow this quarter and $40 million year-to-date, with liquidity falling to $95 million, a multi-year low, severely limiting the company's ability to repurchase shares at its current depressed valuation.
- Missed Acquisition Opportunities: The board previously declined a $12.30 per share acquisition offer from HireQuest, and with TrueBlue's stock now trading around $5, this represents a 60% decline and a significant failure to protect shareholder interests, missing critical market opportunities.
See More
TrueBlue Executes Strategic Plan to Enhance Profitability
- Financial Performance Improvement: TrueBlue is executing a disciplined strategic plan that has strengthened performance in attractive markets, particularly in skilled sectors, thereby driving a return to sustainable profitable growth.
- Cost Structure Optimization: By streamlining its cost structure, the company has enhanced profitability and leverage, indicating a strengthened market position in the competitive staffing industry.
- Board Refreshment: After months of engaging with shareholders, TrueBlue appointed two new directors with extensive industry experience to enhance operational oversight and accelerate company transformation.
- Digital Leadership: The enterprise-wide enhancements to the company's technology platforms are driving faster, more precise, and transparent workforce solutions, further solidifying its digital leadership in the industry.
See More
EHS Management Nominates New Directors to Strengthen TrueBlue Board Expertise
- New Board Members: EHS Management welcomes the addition of two new directors to TrueBlue's board, which underscores broad recognition of the issues raised, yet further enhancements are necessary to improve board expertise and shareholder value.
- Experience Gaps: TrueBlue's board lacks seasoned independent staffing executives, digital platform leaders, and capital allocation expertise, which are critical for reversing the company's ongoing loss of market share.
- Shareholder Involvement: EHS Management believes shareholders should determine the level of board refreshment needed to ensure that new candidates' skills can enhance the board's capabilities and independence to better address the challenges facing the company.
- Nominated Candidates: EHS Management has nominated three candidates with extensive industry experience, focusing on staffing excellence, digital transformation, and disciplined capital allocation, aiming to fill the skills gaps on the board and drive long-term success for the company.
See More
EHS Management Nominates New Directors to Enhance TrueBlue Board Expertise
- New Board Members: EHS Management welcomes the addition of two new directors to TrueBlue's board, which is seen as a positive change; however, significant gaps in experience and expertise remain, potentially hindering the release of long-term value.
- Need for Board Refresh: EHS points out that TrueBlue has not disclosed which incumbent directors will step down for the new additions, suggesting this may be a tactic by long-tenured directors to maintain the status quo rather than a genuine commitment to change.
- Shareholder Rights: EHS emphasizes that shareholders should have the right to decide the extent of board refreshment needed to ensure that new candidates' skills can enhance the board's capabilities and the quality of independent oversight.
- Nominated Candidates: The three nominees put forward by EHS possess extensive industry experience and focus on staffing excellence, digital transformation, and disciplined capital allocation, aiming to address the skills gaps on the board and drive TrueBlue's long-term success.
See More
TrueBlue Launches AI Bill Rate Feature to Enhance Staffing Efficiency
- AI Bill Rate Feature: TrueBlue has launched an AI-enabled bill rate feature within its JobStack app, providing personalized bill rates in seconds, which helps businesses make staffing decisions faster and more accurately, thereby enhancing customer satisfaction.
- Commitment to Technology: This feature underscores TrueBlue's commitment to leveraging technology for smarter workforce solutions, not only enhancing staffing speed and accuracy but also creating greater value for both customers and the talent served, thereby boosting the company's competitive edge in the market.
- Data-Driven Decision Making: JobStack offers fast, data-informed guidance by factoring in job details, location, current market pay conditions, and historical fill performance, enabling businesses to make more confident staffing decisions and improving overall recruitment efficiency.
- Optimized Talent Matching: JobStack continues to leverage PeopleReady's AI-powered ReadyMatch™ technology, evaluating millions of data points to identify best-fit workers, which reduces time-to-fill and ensures businesses receive the right talent with responsive and reliable service across all 50 states.
See More
TrueBlue Appoints Two New Directors to Enhance Long-Term Growth Strategy
- New Board Members: TrueBlue has appointed William Greenblatt and William Seward to its Board effective January 5, 2026, aiming to leverage their extensive experience to drive long-term growth and client success.
- Industry Pioneer: William Greenblatt, recognized as a pioneer in the background screening industry, founded Sterling Infosystems and led its significant global expansion, which is expected to bring innovation and strategic guidance to TrueBlue.
- Operational Expert: William Seward, with over 30 years of global operations experience and a background in senior roles at UPS, is anticipated to enhance TrueBlue's operational efficiency and market competitiveness through his expertise in logistics and supply chain management.
- Board Structure Optimization: This appointment is part of TrueBlue's ongoing effort to refresh its Board composition, with plans to replace two existing directors before the 2026 Annual Meeting, thereby strengthening corporate governance and strategic execution capabilities.
See More
EHS Nominates Directors to Address TrueBlue's Operational Decline
- Need for Board Change: EHS Investments plans to nominate new directors at the 2026 Annual Meeting to address TrueBlue's ongoing operational and financial deterioration, reflecting the company's stock price nearing all-time lows and the urgent need for substantive change at the board level.
- Poor Financial Performance: Despite TrueBlue's Q3 report showing a $49 million revenue increase, gross profit decreased by $2 million due to cost pass-through accounting, indicating ongoing challenges in core operations that require urgent financial health improvements.
- Cash Flow Crisis: TrueBlue burned $17 million in free cash flow this quarter and $40 million year-to-date, with liquidity falling to $95 million, a multi-year low, severely limiting the company's ability to repurchase shares at its current depressed valuation.
- Missed Acquisition Opportunities: The board previously declined a $12.30 per share acquisition offer from HireQuest, and with TrueBlue's stock now trading around $5, this represents a 60% decline and a significant failure to protect shareholder interests, missing critical market opportunities.
See More
