Trueblue, Inc. · NYSE:TBI
Trueblue — Non-Deal Roadshow (April 2022)
22 slides from Trueblue's roadshow presentation, Apr 25, 2022
Slide 1: Investor Roadshow Presentation April 2022
Investor Roadshow Presentation April 2022
Slide 2: Forward-looking statements and non-GAAP financial measures
Forward-looking statements and non-GAAP financial measures 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, expected growth from our digital investments,
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 Attractive growth potential from secular, cyclical and post-Covid recovery factors Strong balance sheet and cash flow to support stock buybacks Sound growth s
Slide 4: Our Mission: Connecting People and Work
Our Mission: Connecting People and Work 95,000 Clients served annually with strong diversity1 615,000 People connected to work during 2021 One of the largest U.S. industrial staffing providers One of the largest global RPO providers Returning Value to Shareholders (Share Repurchases last 5 years) 20
Slide 5: Three specialized segments meet diverse client needs
Revenue1 Segment profit mix1 Segment profit margin1 7% 2% 14% Three specialized segments meet diverse client needs On-demand general and skilled labor for industrial jobs Contingent, on-site industrial staffing and commercial driver services Talent solutions for outsourcing the recruiting process fo
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 nimbler and more efficient Deploying AI to
Slide 7: US Industrial Staffing: Promising growth rates
US Industrial Staffing: Promising growth rates Why Industrial Staffing? Largest segment of the staffing industry ($30B1 in 2020) No dominant competition Digital adoption by the industry can expand growth opportunity, like Uber did in rideshare Capitalize on ecommerce logistics as retail shif
Slide 8: RPO: Historically, a double-digit growth industry
RPO: Historically, a double-digit growth industry Why RPO? “Immature” market with no one dominant player Industry produced double-digit annual revenue growth historically and swift recovery from recent recession is expected Industry poised for growth as companies seek new solutions to increasi
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 and
Slide 10: Leverage technology and industry leading position to grow share and enhance efficiency
Leverage technology and industry leading position to grow share and enhance efficiency Strategy highlights Digitalize our business model to gain market share from smaller and less capitalized competitors and reduce expenses Drive higher client usage of JobStackTM, our industry-leading technology
Slide 11: Leadership with deep industry experience
Leadership with deep industry experience A. Patrick Beharelle President and CEO 25+ years of industry experience 10 years of CEO experience TrueBlue CEO since 2018 Derrek Gafford EVP and CFO 20 years of industry experience 18 years of CFO experience TrueBlue CFO since 2006 Taryn Owen President and C
Slide 12: PeopleReady: Leading industry with digital strategy and enhanced delivery model
PeopleReady: Leading industry with digital strategy and enhanced delivery model JobStackTM Delivery Model Industry leading mobile app that connects our associates with jobs and simplifies ordering Increasing client usage • 29,900 client users • > 55% of eligible revenue1 from heavy client users2 Str
Slide 13: JobStack heavy client user success story
2018 2019 2020 2021 Revenue Trend JobStack heavy client user success story Customer Profile Midwest Food Producer and Distributor Long-time PeopleReady Client PeopleReady Service Overview Supplied associates for one shift Filled a narrow set of positions Shared relationship with another st
Slide 14: PeopleManagement: Expanding market share
PeopleManagement: Expanding market share PeopleManagement proved more resilient during the pandemic due to the outsourced nature of our client relationships and is well-positioned for growth The team is deploying a variety of tactics and strategies to expand market share o Creating an offering f
Slide 15: PeopleScout: Industry leader with historically high margins
PeopleScout: Industry leader with historically high margins Strong Brand Recognition o #1 by HRO Today’s Total Workforce Solution Baker’s Dozen o 5th largest global RPO provider1 Affinix Technology: A Differentiated Experience o Connects clients and candidates using AI, machine learnings and pre
Slide 16: ESG principles help us make sound decisions
ESG principles help us make sound decisions External ESG Ratings: AA Rating Risk Ranking: Negligible Risk Exposure: Low Risk Management: Strong Key Statistics: 67% of Board Members are women or racially diverse 48% of Senior Management are women 96% of shareholders approved Executive Compensat
Slide 17: The balance sheet remains strong
$33 $47 $38 $63 $50 $80 $37 $0 $0 2018 2019 2020 2021 Net Debt Cash $213 $257 $161 $294 $47 $38 $63 $50$260 $295 $224 $344 2018 2019 2020 2021 Borrowing Availability Cash The balance sheet remains strong 1 Total Debt to Capital calculated as total debt divided by the sum of total debt plus sharehold
Slide 18: Focused capital strategy
Focused capital strategy Investing in technology and returning excess capital to shareholders 29% 38% 28% 5% (2017 - 2021) Net Debt Reductions Share Repurchases, net Capital Expenditures Acquisitions Historical use of capitalCapital allocation priorities Strategic technology investments to further
Slide 19: Strong track record of returning capital to shareholders
Strong track record of returning capital to shareholders $179 million of capital returned to shareholders via share repurchases over the last five years (2017-2021) 0.6M shares repurchased at an average price of $26.89 2% reduction in shares outstanding 1 Year 6.0M shares repurchased at an average p
Slide 20: Appendix
Appendix trueblue THE PEOPLE COMPANY®
Slide 21: Non-GAAP financial measures and non-GAAP reconciliations
NON-GAAP FINANCIAL MEASURES AND NON-GAAP RECONCILIATIONS In addition to financial measures presented in accordance with U.S. GAAP, we monitor certain non-GAAP key financial measures. The presentation of these non- GAAP financial measures is used to enhance the understanding of certain aspects of our
Slide 22: Footnotes
Footnotes: 1. Gain on the divestiture of our PlaneTechs business, sold mid-March 2018. 2. Amortization of software as a service assets is reported in selling, general and administrative expense. 3. Acquisition and integration costs related to the acquisition of TMP Holdings LTD completed on June 12,