BGSF, Inc. (NYSE:BGSF) Q1 2024 Earnings Call Transcript

Beth Garvey: They’re our staff to begin with. And so we’re going to our consultants and saying, hey, you’ve got your credentials, we’d like to get you loaded up into the system. So it’s not like they come — that we don’t have access to them anymore. We can actually still use them. And to answer your question, whether or not it’s an implementation or a fix, it’s a combination of both. But I believe that majority of that part of the business will be an implementation. So until he decides to purchase Workday, they will go in and say, now we need the implementers to do it. So that’s going to be the majority of it. Our other parts of our Workday practice are the ones that are going in and doing the fixing.

George Melas: It’d be interesting to see how it works out. And my question on property management. The impact of competition, you are in some 60 or so markets. I imagine the competition is not in all these markets. So can you really map the impact of competition? And can you see a real differentiation in your performance between markets where you have competition and where you don’t?

Beth Garvey: I don’t believe we have that granular of information, George. So you’re right that not every competitor is in the markets that we’re at. But the majority of our markets do have a competitor now. And — but I don’t know that we get that granular on how that works.

John Barnett: Yes. I would say, definitely, we have varying performance across our portfolio, right? Every market is — has, really, a different kind of sub macro environment that is — that exists in. So we’ve seen some markets get a little hit what we believe is a little harder of our competition. In other markets, not so much.

Operator: And ladies and gentlemen, this concludes today’s question-and-answer session. I would like to turn the conference back to Beth Garvey for any closing remarks.

Beth Garvey: Thank you for your time today. We appreciate your continued support, and we look forward to updating you on our second quarter results in August. Have a great day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.