- HireQuest press release ( NASDAQ: HQI ): Q2 GAAP EPS of $0.35 beats by $0.11 .
- Revenue of $9.3M (+62.9% Y/Y) beats by $1.67M .
- Franchise royalties increased 58.4% to $13.8 million compared to $8.7 million for the six-months ended June 30, 2021. Organic royalties, which exclude the effect of acquisitions, increased 28.2% over the same prior year period.
- Staffing revenue from owned locations was $2.4 million.
- Total revenue increased 91.4% to $17.4 million compared to $9.1 million in the prior year period.
- Net income from continuing operations was $5.3 million, or $0.39 per diluted share, compared to net income of $6.5 million, or $0.47 per diluted share in the prior year period. The decrease was primarily due to gains and losses stemming from acquisitions and the conversion of acquired assets into franchises.
- Adjusted EBITDA of $11.2 million compared to $5.9 million in the prior year period.
- System-wide sales for the second quarter of 2022 were $120.0 million compared to $89.7 million for the same period in 2021. Organic system-wide sales, which exclude acquisitions made in 2021 and 2022, increased 29.8% compared to the prior year period.
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HireQuest GAAP EPS of $0.35 beats by $0.11, revenue of $9.3M beats by $1.67M