Trueblue, Inc. · NYSE:TBI
Trueblue — Non-Deal Roadshow (October 2023)
19 slides from Trueblue's roadshow presentation, Oct 23, 2023
Slide 1: Investor Roadshow Presentation
Investor Roadshow Presentation
Slide 2: Forward-looking statements
Forward-looking statements This document contains forward-looking statements relating to our plans and expectations including, without limitation, statements regarding the future performance and operations of our business, expectations regarding stabilization in demand, and expected growth from our
Slide 3: Investment highlights
Investment highlights Return of Capital Market leader in U.S. blue collar staffing and global RPO with increasingly diverse service offerings Highly fragmented industry with strong growth potential from secular forces Strong balance sheet and cash flow to support stock buybacks Advancing technology
Slide 4: Our Mission: Connecting People and Work
Our Mission: Connecting People and Work 84,000 Clients served annually with strong diversity1 611,000 People connected to work during 2022 Returning Value to Shareholders (Share repurchases last 5 years) $204M HRO Today magazine repeatedly recognizes PeopleScout as a global market leader Thousands o
Slide 5: Three specialized segments meet diverse client needs
PeopleReady PeopleScout PeopleManagement Incremental Segment profit margin2 15 – 20% 27 – 32% 8 – 13% Revenue mix1 Segment profit mix1 Segment profit margin1 7% 14% 2% Three specialized segments meet diverse client needs On-demand general and skilled labor for industrial jobs Talent solutions for ou
Slide 6: Solving workforce challenges
Solving workforce challenges Workforce Complexity Many factors, including globalization, the “gig” economy and diversity are changing the world of work requiring a disciplined approach to hiring. Artificial Intelligence Companies are seeking ways to become more nimble and efficient Deploying AI to s
Slide 7: US Industrial Staffing: Large and attractive market
US Industrial Staffing: Large and attractive market Represents ~30% of $680B global staffing market Industrial temporary staffing ($39B) One of the largest U.S. segments (~20%) Skilled Trades (PR) On-site Hourly On Demand (PR) On-site Cost Per UnitTrucking (CL) United States Staffing Market ~$220B1
Slide 8: Recruitment Process Outsourcing: High margin plus double-digit revenue growth
Recruitment Process Outsourcing: High margin plus double-digit revenue growth Global RPO Market ~$6B1 Why RPO? “Nascent” market with no single dominant player Traditionally “sticky” business model with high client retention and engagement Industry produced double-digit annual revenue growth hi
Slide 9: Strategically positioned for secular growth
Strategically positioned for secular growth Strong position in attractive vertical markets Powerful secular forces in industrial staffing Deepening of the general contingent labor pool as workers across the generational spectrum are embracing the gig economy (e.g. millennials with side- hustles an
Slide 10: Advance technology and enhance the experience for those we serve to grow market share
Advance technology and enhance the experience for those we serve to grow market share Strategy highlights and priorities Digitalize our business model to gain market share from smaller, less capitalized competitors and reduce expenses Advance JobStackTM capabilities to better accommodate our ass
Slide 11: PeopleReady: Focusing on digital transformation and operational excellence
Combine the strength of our geographic footprint and JobStackTM capabilities o Customers and associates can connect 24/7 via JobStack app o Expansive coverage through branches and regional service centers o Digitalization enables operational efficiencies Enhance customer and associate experience
Slide 12: PeopleScout: Industry leader with historically high margins
PeopleScout: Industry leader with historically high margins Strong Growth Prospects o Demonstrated track record servicing large employers with dynamic needs in growing industries o Augmenting sales teams to gain market share in high growth sectors o Global focus as growing number of deals are mult
Slide 13: PeopleManagement: Expanding market share and margin
PeopleManagement: Expanding market share and margin Business model is more insulated from cyclical changes due to the outsourced nature of our client relationships Sales teams are scaling in underserved markets to expand share Opportunity to raise margin profile through higher penetration of w
Slide 14: ESG principles help us make sound decisions
ESG principles help us make sound decisions AAA Rating Risk Ranking: Low Risk Exposure: Low Risk Management: Average Key Statistics: 78% of board members are women or racially diverse 50% of senior management are women 88% of voting shareholders approved executive compensation How ESG guides o
Slide 15: Balance sheet remains strong with zero debt and ample liquidity
Balance sheet remains strong with zero debt and ample liquidity Note: Figures may not sum to consolidated totals due to rounding. Balances as of fiscal period end. 1 Borrowing availability is based on maximum borrowing availability under our most restrictive covenant $257 $161 $294 $293 $38 $63 $50
Slide 16: Focused capital strategy
Focused capital strategy Investing in technology and returning excess capital to shareholders 24% 42% 29% 5% (2018 - 2022) Net debt reductions Share repurchases, net Capital expenditures Acquisitions Historical use of capitalCapital allocation priorities Strategic technology investments to further
Slide 17: Strong track record of returning capital to shareholders
Strong track record of returning capital to shareholders $204 million of capital returned to shareholders via share repurchases over the last five years (2018-2022) 2.2M shares repurchased 6% reduction in shares outstanding 1 Year 6.4M shares repurchased 17% reduction in shares outstanding 9.6M shar
Slide 18: Leadership with deep industry experience
Leadership with deep industry experience Carl Schweihs EVP and CFO 10+ years of industry experience 10+ years of finance experience TrueBlue CFO since 2023 Taryn Owen President and CEO 20+ years of industry experience 10+ years as business leader TrueBlue President since 2022 Kristy Willis EVP and P
Slide 19: TrueBlue: The People Company
trueblue’ THE PEOPLE COMPANY"