TrueBlue, Inc. (NYSE:TBI) Q4 2022 Earnings Call Transcript

Derrek Gafford: Well, I think the standout from a pricing perspective, really is our PeopleReady business. In our PeopleReady business, these are smaller jobs oftentimes are supplemental their project. And so that’s one dynamic we have going for us is we get to reprice this business all the time and our business units are really doing a great job on the audit. I just was looking before I came in here to the call. I was looking back and at some history on positive bill pay spreads. I had one that went back 10 years and – the positive bill pay spreads for the year here at PeopleReady has been 180 basis points. There was nothing that even came close to it. So, the business is really pricey and based on the value that we’re contributing to the customers.

We think that we’re delivering a really good value. As far as the quality of what we’re presenting and supply-demand imbalance are eating some of that. Our folks are, needing us even more than they’ve ever needed us before, and trying to find good candidates. The markets are tight. We know how to find that and it’s coming through in the pricing. I don’t know. I’ll pass over to Taryn, maybe Taryn if you want to add anything to that and make any comments about PeopleManagement or PeopleScout.

Taryn Owen: Yes, I just I’ll echo your sentiment Derrek. We’ve just had great success making sure we’re able to get the right pay rates to our associates, and then the bill rates to get the job built on their behalf.

Marc Riddick: Great. Thank you very much.

Operator: And that will end our question-and-answer session. So we may conclude today’s conference. Thank you for your participation and have a wonderful evening.