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BGSF reports Q1 revenue up 9.9%, sees growth in both professional and real estate segments

May 11, 2023

BGSF Inc. (NYSE: BGSF) reported first-quarter revenue rose 9.9% to $75.3 million with revenue up in both its professional and real estate segments. The recent acquisition of Horn Solutions boosted revenue in BGSF’s professional segment.

First-quarter results were within expectations, said Beth Garvey, chair, president and CEO.

“Our professional segment benefited from incremental revenues from our Horn Solutions acquisition, and we are encouraged by expanded cross-selling opportunities,” Garvey said. “Our recent strategic acquisition of Arroyo Consulting will strengthen our go-to-market cross-selling efforts, providing our clients a cost-effective alternative offering nearshore and offshore IT resources.”

The Plano, Texas-based staffing provider announced results Wednesday afternoon.

Share price and market cap

Shares in BGSF were up 0.10% to $10.00 as of 11:44 a.m. Eastern time today; they were 6.95% above their 52-week low, according to FT.com. The company had a market cap of $107.8 million.