BARRETT BUSINESS SERVICES INC — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 28/100
What the filing says
BBSI reported Q3 2026 revenues of $334.1M (+5% YoY) and gross billings of $2.40B (+3% YoY), but net income fell to $16.8M or $0.69/diluted share versus $20.6M or $0.79/share in Q3 2025. Average WSEs grew only 0.6% YoY. The company repurchased $9.0M of stock (273,695 shares at $33.01) and maintained its $0.08/share quarterly dividend. Year-to-date capital returned to shareholders exceeded $50M. Management guided FY2026 gross billings growth of 3-4% and WSE growth of 1-2%.
Why this rating
Moderate revenue growth (+5%) offset by profit decline (-18% net income YoY) and soft WSE growth (+0.6%); Q3 2025 benefited from larger prior-year adjustments ($3.9M vs $0.8M Q3 2026). Relative to ~$1B market cap, $334M quarterly revenue and $16.8M quarterly profit are material operational data, but no structural change announced. Cautious 2026 guidance suggests headwinds continue.
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