Slide 1: www.TrueBlue.com
www.TrueBlue.com
Slide 2: Forward-Looking Statements
www.TrueBlue.com Forward-Looking Statements Certain statements made by us in this presentation that are not historical facts or that relate to future plans, events or performances are forward-looking statements that reflect management’s current outlook for future periods, including statements regard
Slide 3: Q2 2016 Highlights
www.TrueBlue.com Q2 2016 Highlights Total revenue growth 7%, low end of our prior outlook Organic revenue decline of 1% Continued organic softness in Staffing Services segment Strong results in Managed Services segment Net loss of $64M included a non-cash impairment charge of $80 million, ne
Slide 4: Financial Summary
www.TrueBlue.com Financial Summary Excluding company’s largest customer, organic revenue growth was 2% Pricing and cost management actions position company to improve future Adjusted EBITDA margin Amounts in millions, except for earnings per share Q2 2016 Change Revenue $673 +7% (-1% organic) Ne
Slide 5: Gross Margin and SG&A Bridges
www.TrueBlue.com Gross Margin and SG&A Bridges 24.2% 25.3% 0.8% 0.4% 0.1% Q2 2015 Acquisitions Revenue Mix Bill/Pay & Other Q2 2016 $,118 $,136 $,10 $,8 Q2 2015 Acquisitions Organic Business Q2 2016 SG&A Amounts in millions Gross Margin
Slide 6: Staffing Services Segment
www.TrueBlue.com Staffing Services Segment1 Excluding the company’s largest customer, organic revenue grew 1% Positive results from price increases with new and existing customers Disciplined cost management across the business, 9 branches consolidated Amounts in millions Q2 2016 Change Revenu
Slide 7: Managed Services Segment
www.TrueBlue.com Managed Services Segment1 Strong organic and acquisition revenue results New projects advancing organic revenue growth Higher volume within existing customer base bolstering acquired RPO revenue Amounts in millions Q2 2016 Change Revenue $47 +76% (11% organic) Adjusted EBITDA
Slide 8: Debt and Liquidity Highlights
www.TrueBlue.com $180 $216 $128 $202 $246 $150 2014 2015 Q2 2016 Net Debt Cash $101 $77 $126 $21 $30 $22 $123 $107 $148 2014 2015 Q2 2016 Borrowing Availability Cash Debt and Liquidity Highlights 30% 31% 24% 2014 2015 Q2 2016 Total Debt Liquidity Debt to Total Capital Amounts in millions Amounts in
Slide 9: www.TrueBlue.com
www.TrueBlue.com
Slide 10: Q3 2016 Outlook
www.TrueBlue.com Q3 2016 Outlook Amounts in millions, except for earnings per share GAAP Adjusted Other Revenue Growth Ranges Total Revenue Staffing Services Managed Services $717M to $733M 5 to 7% 3 to 5% 50 to 60% Net Income $24M to $26M $31M to $33M • Assumes income tax rate of about 32% • Adjust
Slide 11: Appendix
www.TrueBlue.com
Slide 12: Non-GAAP Terms and Definitions
www.TrueBlue.com Non-GAAP Terms and Definitions EBITDA and Adjusted EBITDA are non-GAAP financial measures. EBITDA excludes interest, taxes, depreciation and amortization, and goodwill and intangible asset impairment charges from net income. Adjusted EBITDA further excludes from EBITDA costs related