GEE Group says job orders down in difficult Q1 market
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GEE Group (NYSEAMERICAN: JOB) reported the tough market along with policy uncertainty and threat of recession meant fewer job orders in its fiscal first quarter ended Dec. 31, 2024.
“The company’s financial results for the fiscal 2025 first quarter are indicative of a less than robust demand environment for the US staffing industry,” Chairman and CEO Derek E. Dewan said in a press release. “It has not yet recovered from the weakness experienced in the second half of 2023 and all of 2024.”
Dewan said the firm expects demand to gradually improve in the latter part of this year.
Revenue fell in both GEE’s contract staffing and direct hire business lines. Contract staffing revenue fell 14.7% year over year to $23.5 million. Meanwhile, direct-hire revenue fell 17.8% to $2.5 million.
GEE Group - Q1 2025
(US$ thousands) | Q1 2025 | Q1 2024 | % change |
Revenue | 26,026 | 30,631 | -15.0% |
Gross profit | 8,296 | 9,736 | -14.8% |
Gross margin | 31.9% | 31.8% | - |
Net loss | (692) | (1,555) | nm |
Share Price
Shares in GEE Group were up 0.17% to 0.2359 cents as of 10:39 a.m. Eastern time Feb. 14. They were 17.95% above their 52-week low.