Barrett Business Services Inc
NASDAQ:BBSI

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Barrett Business Services Inc
NASDAQ:BBSI
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Price: 43.86 USD -0.18% Market Closed
Market Cap: 1.1B USD

Barrett Business Services Inc
Investor Relations

Barrett Business Services Inc. (BBSI) is an intriguing player in the realm of business management solutions, blending the conventional with the innovative in how it engages with its client base. Situated in Vancouver, Washington, BBSI operates primarily as a provider of professional employer organization (PEO) services, targeting small to mid-sized businesses. The company takes on the challenges that typically burden these enterprises by offering comprehensive management solutions that include human resources, payroll administration, risk management, and consulting. This partnership-based model permits clients to concentrate on their core operations while BBSI manages essential, yet often distracting, administrative tasks.

BBSI generates revenue through a contractual arrangement with client companies, charging fees based on a percentage of their payroll. By facilitating workforce-related functions and providing strategic advisory services, BBSI not only supports but enhances operational efficacy for its clients. The company's deep-rooted understanding of human capital challenges allows it to create custom solutions designed to mitigate risks and boost profitability. This approach underscores BBSI’s unique positioning as a business ally, distinguishing itself by fostering close relationships with its clients, thus earning their trust and, ultimately, their loyalty. Through continuous engagement and refining processes together with its clients, BBSI sustains its growth trajectory whilst championing the success of the businesses it serves.

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Earnings Calls

2024 Q3
Nov 6, 2024
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BBSI Shows Strong Revenue Growth and Positive Employee Trends
2024 Q3
Nov 6, 2024

BBSI reported a robust Q3 2024, with gross billings rising 9% to $2.14 billion, driven by a record 4,600 new worksite employees. Their controllable growth strategy proved effective, yielding a 5% year-over-year increase in worksite employees. Although staffing revenues dipped 2% due to strategic shifts, the overall client hiring remained steady. For 2025, BBSI anticipates gross billings growth of 7%-8%, with expected worksite employee increases of 4%-5%. The company also noted that SG&A expenses are expected to rise at half the rate of revenue growth, ensuring profitability remains a priority while continuing to enhance their product offerings.

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Management

Mr. Gary Edward Kramer
President, CEO & Director
No Bio Available
Mr. Anthony J. Harris CPA
Executive VP, CFO, Principal Accounting Officer & Treasurer
No Bio Available
Mr. Gerald R. Blotz
Executive VP & COO
No Bio Available
Mr. James R. Potts J.D.
Executive VP, General Counsel & Secretary
No Bio Available
Ms. Rachael Stutzman
Senior Vice President of Sales & Marketing
No Bio Available

Contacts

Address
WASHINGTON
Vancouver Washington
8100 NE Parkway Dr Ste 200
Contacts
+18004945669.0
www.bbsi.com