BGSF Inc. (NYSE: BGSF) reported third-quarter revenue rose 22.3% year over year to $78.5 million. The Plano, Texas-based company reported growth in both its professional staffing and real estate divisions.
Gross margin also improved.
Momentum from the first half of 2022 continued into its fiscal third quarter, which resulted in record high revenue and gross profit from continuing operations, according to Beth Garvey, chair, president and CEO.
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“We are enthusiastic about planned growth initiatives and prospects as we approach 2023,” Garvey said. “We see strong tailwinds in both segments as we work to build leadership positions in both the professional and real estate segments. Our teams are energized around our vision and strategic direction, and this alignment has contributed to more creative solutions for our clients.”
BGSF provides workforce solutions to a variety of industries through its various divisions in IT, cyber, finance and accounting, and real estate. It sold its light industrial segment, which operates as InStaff, to talent platform provider Jobandtalent in the first quarter.
Share price and market cap
Shares in BGSF were up 1.46% to $12.508 as of 11:24 a.m. Eastern time; they were 21.36% above their 52-week low, according to FT.com. The company had a market cap of $129.14 million.