Board Change • Jun 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Donna Carroll was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 21
BGSF, Inc. to Report Q1, 2026 Results on May 06, 2026 BGSF, Inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on May 06, 2026 Announcement • Mar 17
BGSF, Inc. announced delayed annual 10-K filing On 03/16/2026, BGSF, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Mar 12
Full year 2025 earnings released: US$1.05 loss per share (vs US$0.31 loss in FY 2024) Full year 2025 results: US$1.05 loss per share (further deteriorated from US$0.31 loss in FY 2024). Revenue: US$93.3m (down 66% from FY 2024). Net loss: US$11.5m (loss widened 246% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Feb 18
BGSF, Inc. to Report Q4, 2025 Results on Mar 11, 2026 BGSF, Inc. announced that they will report Q4, 2025 results After-Market on Mar 11, 2026 Announcement • Nov 10
BGSF, Inc. (NYSE:BGSF) announces an Equity Buyback for $5 million worth of its shares. BGSF, Inc. (NYSE:BGSF) announces a share repurchase program. Under the program, the company will repurchase up to $5 million worth of its common stock. Reported Earnings • Nov 09
Third quarter 2025 earnings released: US$0.28 loss per share (vs US$0.074 loss in 3Q 2024) Third quarter 2025 results: US$0.28 loss per share (further deteriorated from US$0.074 loss in 3Q 2024). Revenue: US$26.9m (down 62% from 3Q 2024). Net loss: US$3.08m (loss widened 283% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings. New Risk • Nov 06
New major risk - Revenue and earnings growth Earnings have declined by 32% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 32% per year over the past 5 years. Minor Risks High level of debt (56% net debt to equity). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (US$38.2m market cap). Announcement • Oct 22
BGSF, Inc. to Report Q3, 2025 Results on Nov 05, 2025 BGSF, Inc. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025 Upcoming Dividend • Sep 24
Upcoming dividend of US$2.00 per share Eligible shareholders must have bought the stock before 01 October 2025. Payment date: 30 September 2025. The company last paid an ordinary dividend in December 2014. The average dividend yield among industry peers is 1.8%. Announcement • Sep 17
BGSF, Inc., Annual General Meeting, Nov 05, 2025 BGSF, Inc., Annual General Meeting, Nov 05, 2025. Location: 5830 granite parkway, first floor, suite 140b, texas 75024, plano, Canada Announcement • Sep 12
BGSF, Inc. Declares Special Cash Dividend on Common Stock, Payable on September 30, 2025 BGSF, Inc. announced that its Board of Directors has authorized and declared a special cash dividend of $2.00 per share of the Company's common stock, par value $0.01 (Common Stock), payable on September 30, 2025, to the holders of record of all of the issued and outstanding shares of Common Stock as of the close of business on September 23, 2025. Price Target Changed • Aug 13
Price target decreased by 8.7% to US$10.50 Down from US$11.50, the current price target is provided by 1 analyst. New target price is 82% above last closing price of US$5.76. Stock is down 27% over the past year. The company is forecast to post a net loss per share of US$0.86 next year compared to a net loss per share of US$0.31 last year. New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings have declined by 30% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 30% per year over the past 5 years. Minor Risks High level of debt (56% net debt to equity). Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (US$65.5m market cap). Reported Earnings • Aug 08
Second quarter 2025 earnings released: US$0.46 loss per share (vs US$0.07 loss in 2Q 2024) Second quarter 2025 results: US$0.46 loss per share (further deteriorated from US$0.07 loss in 2Q 2024). Revenue: US$23.5m (down 66% from 2Q 2024). Net loss: US$5.05m (loss widened US$4.28m from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Announcement • Jul 22
BGSF, Inc. to Report Q2, 2025 Results on Aug 06, 2025 BGSF, Inc. announced that they will report Q2, 2025 results After-Market on Aug 06, 2025 New Risk • May 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Earnings have declined by 29% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (US$38.3m market cap). Reported Earnings • May 09
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: US$0.066 loss per share (improved from US$0.073 loss in 1Q 2024). Revenue: US$63.2m (down 8.0% from 1Q 2024). Net loss: US$722.0k (loss narrowed 8.8% from 1Q 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 61%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Announcement • Apr 29
BGSF, Inc. to Report Q1, 2025 Results on May 07, 2025 BGSF, Inc. announced that they will report Q1, 2025 results After-Market on May 07, 2025 Major Estimate Revision • Mar 24
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$291.3m to US$272.0m. Now expected to report a loss of US$0.03 per share instead of US$0.105 per share profit previously forecast. Professional Services industry in the US expected to see average net income growth of 16% next year. Consensus price target down from US$12.00 to US$10.50. Share price was steady at US$3.54 over the past week. New Risk • Mar 21
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Earnings have declined by 29% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$40.9m market cap). Announcement • Mar 21
BGSF, Inc. Announces Management Changes On March 12, 2025, the Board of Directors of BGSF, Inc. approved the appointment of Keith Schroeder, age 69, as Secretary of the Company, effective March 18, 2025 (the Commencement Date). Mr. Schroeder brings over 40 years of experience in accounting, corporate control and reporting, finance, operations, and as Chief Executive Officer and Chief Financial Officer strategic roles. Before joining the Company, Mr. Schroeder served as President and Chief Executive of Novipax Buyer, LLC in a carve-out transaction from December 2020 through September, 2024. Before this, Mr. Schroeder served as Chief Financial Officer of Novipax LLC from February 2019 to November 2020. Schroeder was also Chief Financial Officer and promoted to President and Chief Executive Officer of Xcaliber International LTD, LLC from 2016 to 2018. Between 2002 and 2016, Mr. Schroeder served as Chief Financial Officer for Orchids Paper Products. Earlier in his career, he worked in the large accounting and finance organizations for Cummins Engine Company and Atlas Van Lines, Inc. Mr. Schroeder earned his Bachelor of Science in Business Administration in Accounting and is a Certified Public Accountant (inactive). On March 12, 2025, John Barnett resigned as the Chief Financial Officer and Secretary of the Company and its subsidiaries, effective as of March 17, 2025. Mr. Barnett’s resignation was part of the Company’s leadership succession plan, and Mr. Barnett will continue to work for the Company in an advisory capacity through an undefined transition period. Announcement • Mar 13
BGSF, Inc. Announces Chief Financial Officer Changes BGSF, Inc. announced their leadership succession plan with the appointment of Mr. Keith Schroeder as the Company’s Chief Financial Officer, effective after the Annual Report on Form 10-K is filed for fiscal year 2024. Mr. Schroeder succeeds Mr. John Barnett, who served as the Company’s Chief Financial Officer since 2023. Mr. Schroeder brings over 40 years of experience in accounting, corporate control and reporting, finance, operations, and CEO and CFO strategic roles. Before BGSF, Mr. Schroeder served as President and Chief Executive of Novipax Buyer, LLC in a carve-out transaction from December 2020 through 2024. Before this, he led as Chief Financial Officer of Novipax LLC from February 2019 to November 2020. Schroeder was also CFO and promoted to President and CEO of Xcaliber International LTD, LLC from 2016 to 2018. Between 2002 and 2016, Schroeder served as CFO for Orchids Paper Products. Earlier in his career, he worked in the large accounting and finance organizations for Cummins Engine Company and Atlas Van Lines, Inc.Mr. Schroeder earned his Bachelor of Science in Business Administration with an Accounting major and is a certified public accountant (inactive). Reported Earnings • Mar 13
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: US$0.31 loss per share (improved from US$0.95 loss in FY 2023). Revenue: US$272.5m (down 13% from FY 2023). Net loss: US$3.34m (loss narrowed 67% from FY 2023). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 3.3%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Announcement • Mar 06
BGSF, Inc. to Report Q4, 2024 Results on Mar 12, 2025 BGSF, Inc. announced that they will report Q4, 2024 results After-Market on Mar 12, 2025 New Risk • Nov 08
New major risk - Revenue and earnings growth Earnings have declined by 30% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 30% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$80.2m market cap). Reported Earnings • Nov 07
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.074 loss per share (down from US$0.24 profit in 3Q 2023). Revenue: US$71.2m (down 15% from 3Q 2023). Net loss: US$804.0k (down 131% from profit in 3Q 2023). Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Professional Services industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Announcement • Oct 15
BGSF, Inc. to Report Q3, 2024 Results on Nov 06, 2024 BGSF, Inc. announced that they will report Q3, 2024 results After-Market on Nov 06, 2024 Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$8.24, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 21x in the Professional Services industry in the US. Total loss to shareholders of 26% over the past three years. Recent Insider Transactions Derivative • Aug 11
Independent Director exercised options to buy US$64k worth of stock. On the 7th of August, Richard Baum exercised options to buy 8k shares at a strike price of around US$7.10, costing a total of US$53k. This transaction amounted to 6.3% of their direct individual holding at the time of the trade. Since December 2023, Richard's direct individual holding has increased from 112.54k shares to 116.43k. Company insiders have collectively bought US$398k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Aug 08
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: US$0.07 loss per share (down from US$0.24 profit in 2Q 2023). Revenue: US$68.1m (down 16% from 2Q 2023). Net loss: US$761.0k (down 129% from profit in 2Q 2023). Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Jul 24
BGSF, Inc. to Report Q2, 2024 Results on Aug 07, 2024 BGSF, Inc. announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 07, 2024 Announcement • Jun 19
BGSF, Inc., Annual General Meeting, Aug 07, 2024 BGSF, Inc., Annual General Meeting, Aug 07, 2024. Location: 5850 granite parkway, suite 140c, texas 75024, plano United States Recent Insider Transactions • Jun 02
Independent Director recently bought US$76k worth of stock On the 29th of May, C. Allen bought around 12k shares on-market at roughly US$6.60 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$135k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to US$7.11, the stock trades at a trailing P/E ratio of 14.3x. Average forward P/E is 22x in the Professional Services industry in the US. Total loss to shareholders of 35% over the past three years. Price Target Changed • May 14
Price target decreased by 12% to US$13.00 Down from US$14.75, the current price target is provided by 1 analyst. New target price is 79% above last closing price of US$7.25. Stock is down 20% over the past year. The company is forecast to post earnings per share of US$0.40 next year compared to a net loss per share of US$0.95 last year. Price Target Changed • May 11
Price target decreased by 9.5% to US$14.25 Down from US$15.75, the current price target is an average from 2 analysts. New target price is 87% above last closing price of US$7.62. Stock is down 18% over the past year. The company is forecast to post earnings per share of US$0.82 next year compared to a net loss per share of US$0.95 last year. Reported Earnings • May 09
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: US$0.073 loss per share (improved from US$1.54 loss in 1Q 2023). Revenue: US$68.8m (down 8.7% from 1Q 2023). Net loss: US$792.0k (loss narrowed 95% from 1Q 2023). Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • May 01
BGSF, Inc. to Report Q1, 2024 Results on May 08, 2024 BGSF, Inc. announced that they will report Q1, 2024 results After-Market on May 08, 2024 New Risk • Apr 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.1m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Earnings have declined by 40% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (US$99.1m market cap). Reported Earnings • Mar 14
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: US$0.95 loss per share (down from US$1.08 profit in FY 2022). Revenue: US$313.2m (up 4.9% from FY 2022). Net loss: US$10.2m (down 191% from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.0%. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Feb 27
BGSF, Inc. to Report Q4, 2023 Results on Mar 13, 2024 BGSF, Inc. announced that they will report Q4, 2023 results After-Market on Mar 13, 2024 Declared Dividend • Feb 12
Third quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 16th February 2024 Payment date: 27th February 2024 Dividend yield will be 5.7%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (51% cash payout ratio). The dividend has remained flat since 9 years ago. However, payments have been volatile during that time. Recent Insider Transactions Derivative • Feb 11
Independent Director exercised options to buy US$120k worth of stock. On the 6th of February, Douglas Hailey exercised options to buy 11k shares at a strike price of around US$6.25, costing a total of US$72k. This transaction amounted to 6.0% of their direct individual holding at the time of the trade. Since March 2023, Douglas' direct individual holding has increased from 132.95k shares to 192.01k. Company insiders have collectively bought US$258k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Feb 09
BGSF, Inc. Announces Quarterly Dividend, Payable on February 27, 2024 BGSF, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share of common stock. The dividend is payable on February 27, 2024, to all shareholders of record as of the close of business on February 20, 2024. This marks the 37th consecutive quarterly dividend and based on the yesterday's closing price of the Company’s common stock, the annualized yield is approximately 5.86%. Price Target Changed • Nov 15
Price target decreased by 8.7% to US$15.75 Down from US$17.25, the current price target is an average from 2 analysts. New target price is 62% above last closing price of US$9.71. Stock is down 26% over the past year. The company is forecast to post a net loss per share of US$0.94 compared to earnings per share of US$1.08 last year. Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: US$0.24 (down from US$0.44 in 3Q 2022). Revenue: US$83.5m (up 6.3% from 3Q 2022). Net income: US$2.64m (down 43% from 3Q 2022). Profit margin: 3.2% (down from 5.9% in 3Q 2022). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Professional Services industry in the US. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Nov 10
BGSF, Inc. Declares Dividend on Common Stock, Payable on November 28, 2023 The Board of Directors of BGSF, Inc. approved the payment of a dividend of $0.15 per share of common stock to be paid on November 28, 2023 to all shareholders of record as of the close of business on November 20, 2023. Announcement • Oct 13
BGSF, Inc. to Report Q3, 2023 Results on Nov 08, 2023 BGSF, Inc. announced that they will report Q3, 2023 results After-Market on Nov 08, 2023 New Risk • Oct 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.0m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.7% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 229% Minor Risks Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Market cap is less than US$100m (US$99.0m market cap). Buying Opportunity • Aug 18
Now 20% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be US$12.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 10
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: US$0.24 (down from US$0.30 in 2Q 2022). Revenue: US$80.8m (up 9.1% from 2Q 2022). Net income: US$2.60m (down 18% from 2Q 2022). Profit margin: 3.2% (down from 4.3% in 2Q 2022). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 23%. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Professional Services industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Announcement • Aug 10
BGSF, Inc. Declares Quarterly Cash Dividend, Payable on August 28, 2023 BGSF, Inc. has declared a quarterly cash dividend of $0.15 per share of common stock. The dividend is payable on August 28, 2023 to all shareholders of record as of the close of business on August 21, 2023. This marks the 35th consecutive quarterly dividend and based on yesterday’s closing price of the Company’s common stock, the annualized yield is approximately 6.4%. Board Change • Aug 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Independent Director Donna Carroll was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 23
BGSF, Inc. to Report Q2, 2023 Results on Aug 09, 2023 BGSF, Inc. announced that they will report Q2, 2023 results After-Market on Aug 09, 2023 Announcement • Jun 21
BGSF, Inc., Annual General Meeting, Aug 09, 2023 BGSF, Inc., Annual General Meeting, Aug 09, 2023, at 12:00 Central Daylight. Location: Omni PGA Resort, 4341 PGA Parkway, Frisco Texas United States Agenda: To elect the Class III directors nominated by the Board of Directors; to ratify the Audit Committee’s appointment of Whitley Penn LLP as our independent registered public accounting firm for the 2023 fiscal year ending December 31, 2023; to consider Approval of Amendments to the BGSF, Inc. 2013 Long-Term Incentive Plan, including to add an additional shares of common stock available for issuance; and to transact such other business matter. Recent Insider Transactions • May 21
Independent Director recently bought US$186k worth of stock On the 18th of May, Douglas Hailey bought around 20k shares on-market at roughly US$9.31 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • May 12
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: US$1.54 loss per share (down from US$0.19 profit in 1Q 2022). Revenue: US$75.3m (up 9.9% from 1Q 2022). Net loss: US$16.5m (down US$18.5m from profit in 1Q 2022). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Professional Services industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 22
Price target decreased by 7.8% to US$19.13 Down from US$20.75, the current price target is an average from 2 analysts. New target price is 85% above last closing price of US$10.31. Stock is down 21% over the past year. The company is forecast to post earnings per share of US$1.25 for next year compared to US$1.08 last year. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$11.73, the stock trades at a trailing P/E ratio of 10.9x. Average forward P/E is 20x in the Professional Services industry in the US. Total returns to shareholders of 100% over the past three years. Reported Earnings • Mar 10
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: US$1.08 (up from US$1.01 in FY 2021). Revenue: US$298.4m (up 25% from FY 2021). Net income: US$11.3m (up 7.7% from FY 2021). Profit margin: 3.8% (down from 4.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Feb 17
BGSF, Inc. to Report Q4, 2022 Results on Mar 08, 2023 BGSF, Inc. announced that they will report Q4, 2022 results After-Market on Mar 08, 2023 Announcement • Feb 14
BGSF, Inc. Declares Quarterly Cash Dividend, Payable on March 2, 2023 BGSF, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share of common stock. The dividend is payable on March 2, 2023, to all shareholders of record as of the close of business on February 23, 2023. This marks the 33rd consecutive quarterly dividend and based on the Friday’s closing price of the Company’s common stock, the annualized yield is approximately 3.9%. Announcement • Jan 18
BGSF, Inc. Announces Executive Appointments BGSF, Inc. announces the appointments of Mr. Christopher (Chris) Loope as Chief Strategy Officer and Ms. Nycole Rosen as Chief Information Officer. These key promotions reflect the Company’s commitment to growth by further strengthening the strategic vision of expanding operations, technology, and overall market share in 2023. Mr. Loope joined BGSF in January 2019 as CIO, leading the modernization efforts in technology and cybersecurity and successfully completing the technology roadmap. Prior to joining BGSF, Loope advanced though recent roles as VP of Operations, CIO and Chief Digital Officer for EmployBridge, Inc. Loope brought the IT operations inhouse and led ongoing technology transformation and business integrations initiatives sustaining M&A growth to $3 billion in annual revenue. Loope has successfully lead projects including merger integrations, contact center virtualization and optimization, operations process improvement, recruiting and sales automation, multiple systems and infrastructure migrations, and developed a suite of mobile apps for automated workforce management. Previously, Loope held the role of Senior Manager with Technisource, leading teams in technology assessments and management consulting engagements. Loope graduated from the University of Tennessee with a Management BBA. He is certified in Lean Six Sigma and the Agile Development methodologies. Ms. Rosen joined BGSF in 2019 as Vice President of Technology and successfully established the Company’s formal PMO, Project Management Office, where she built standard practices for managing projects and continuous improvement procedures for newly implemented technology. She also led efforts to replace all of BGSF’s existing technology with industry-leading tools and systems. Prior to BGSF, Rosen’s experience included management roles at both EmployBridge and JourneyTEAM in operations, training and technology in the staffing industry. Rosen earned a BBA and master’s in Teaching and Learning with Technology, which was invaluable to the Company during the pandemic shutdowns. She also serves on the Board of the northern Utah chapter of the Project Management Institute as Outreach. Price Target Changed • Dec 21
Price target increased to US$20.75 Up from US$19.25, the current price target is an average from 2 analysts. New target price is 46% above last closing price of US$14.25. Stock is up 0.6% over the past year. The company posted earnings per share of US$1.01 last year. Major Estimate Revision • Nov 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$286.4m to US$290.6m. EPS estimate fell from US$1.73 to US$1.20 per share. Net income forecast to shrink 0.9% next year vs 3.7% growth forecast for Professional Services industry in the US . Consensus price target up from US$19.25 to US$20.25. Share price was steady at US$12.41 over the past week. Reported Earnings • Nov 04
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: US$0.44. Revenue: US$78.5m (down 4.7% from 3Q 2021). Net income: US$4.65m (flat on 3Q 2021). Profit margin: 5.9% (up from 5.6% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 35%. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Professional Services industry in the US. Buying Opportunity • Oct 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.5%. The fair value is estimated to be US$14.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.7% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 7.8% in a year. Earnings is forecast to grow by 21% in the next year. Major Estimate Revision • Aug 11
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$272.1m to US$286.4m. EPS estimate fell from US$1.67 to US$1.07 per share. Net income forecast to shrink 5.4% next year vs 4.9% growth forecast for Professional Services industry in the US . Consensus price target of US$19.25 unchanged from last update. Share price was steady at US$13.17 over the past week. 