About LABOR READY SOUTHWEST, INC.

Another day, another blue-collar dollar. Staffing firm TrueBlue specializes in providing general laborers on short notice for short-term jobs in fields such as construction, hospitality, landscaping, and transportation. The company offers general labor staffing services from more than 690 branches throughout the US and Canada, mostly under the Labor Ready brand. Other units, operating through branches, include Spartan Staffing (light industrial temporary services), CLP Resources (skilled construction trades), and Centerline Drivers (temporary and dedicated driver placement). TrueBlue mainly serves companies residing in the services, construction, transportation, manufacturing, retail, and wholesale sectors.

Geographic Reach

The company has a network of some 690 branches across all 50 states, Puerto Rico, and Canada, plus 162 on-premise locations at customer's facilities. The US generates about 96% of its total sales.

Operations

TrueBlue operates through two reportable segments. Staffing Services (98% of total sales) provides a wide range of blue-collar staffing services including general labor, light industrial, skilled trades, aviation, transportation mechanics, technicians, and drivers. Its Managed Services segment provides recruitment process outsourcing services.

Financial Performance

TrueBlue has achieved extraordinary growth over the last several years, with revenue climbing 30% from $1.67 billion in 2013 to a record-setting $2.17 billion in 2014. The historic growth was primarily attributed to key acquisitions. About 24% of its revenue growth in 2014 was fueled by its acquisition of Seaton. It also experienced organic growth across most of its geographic and industry segments.

TrueBlue's net income surged 46% from $45 million in 2013 to $66 million in 2014 mainly due to the higher revenue. The company's operating cash inflow decreased from $86 million in 2013 to $48 million in 2014 due to changes in working capital as a result of an increase in account receivables and income taxes.

Strategy

TrueBlue has used acquisitions to generate milestone revenues and to diversify its mix of services, particularly in the light industrial and skilled labor staffing sectors. In 2014 it grew significantly through the purchase of staffing service provider Seaton. The deal included Seaton's PeopleScout, Staff Management SMX, HRX, and StudentScout service lines.

Also in 2014, TrueBlue obtained The Work Connection (TWC). TWC's operations were merged with Spartan Staffing to expand TrueBlue's light industrial service line. The company in 2014 also acquired MDT Personnel a temporary staffing provider with 105 branches and 15 on-site locations across 25 states. That deal expanded the size of its general labor business by integrating MDT's operations with those of Labor Ready.

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LABOR READY SOUTHWEST, INC.

1015 A St Unit A
Tacoma, WA 98402-5122
Phone: 1 (253) 383-9101
www.laborready.com

Stats

  • Employer Type: Public
  • District Manager: Glenn Capps
  • Sec: Joanna Monroe
  • Branch Manager: Kevin Welsh

Major Office Locations

  • Tacoma, WA

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