HireQuest delivered a solid third quarter, achieving net income of $2.3 million despite a 9.8% year-over-year decline in total revenue due to mixed signals in the staffing market.

• Net income stood at $2.3 million or $0.16 per share, reflecting sustained profitability and cost control amid market uncertainties.
• Total revenue decreased to $8.5 million, attributed to a drop in franchise royalties, which were $8.1 million compared to $9 million last year.
• Sequentially, system-wide sales rose by 6.1% from Q2, indicating resilience in temporary staffing demand, particularly in light industrial and administrative fields.
• The company remains focused on identifying M&A opportunities that align with its growth strategy, particularly as retirement-ready smaller firms seek exits.
• Operating expenses were effectively managed, with SG&A costs reduced to $5.1 million compared to $5.4 million in the prior year.