HireQuest Q2 Revenue Beats Estimates as Staffing Demand Recovers
HQI sits 84% above its 52-week low of $7.38.
Summary
HireQuest delivered a strong Q2, with revenue rising 6% to $8.1M, handily beating the $7.08M consensus. Adjusted EBITDA surged to $4.6M from $3.3M a year ago, also well above estimates, driven by a stabilizing job market and a 31.9% drop in SG&A costs. This marks a sharp turnaround from Q1's 12.7% revenue decline, signaling that temporary staffing demand is recovering. The company also declared a $0.06 quarterly dividend, reinforcing confidence in cash flows. With two analysts rating the stock a strong buy and a $15 price target, the results support the bullish thesis, though the small-cap name remains thinly covered.
At the time of this announcement, HQI was trading at $13.57 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $188.6M. The 52-week trading range was $7.38 to $14.54. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.