Categories Earnings, Other Industries

Earnings preview: What to expect from ShiftPixy Q3 2019 results

For the third quarter of 2019, ShiftPixy’s (NASDAQ: PIXY) top line will be benefited by the 19 new clients already onboard since the end of February. These new clients are likely to provide additional gross billings. The employment services provider is due to provide its earnings results this month but the date remained unclear.

The company’s goal is to have the mobile platform serve not only to enable its shift workers to secure additional shift work and its job provider clients to fill open shifts. But, the goal also includes attraction of new clients who see the value associated with being able to fill open shifts with a ready-to-hire workforce.

ShiftPixy plans to expand its service offering into other industries as well, particularly where part-time work is a significant component of the applicable labor force, including the retail and health care, especially home health care, sectors. The number of independent workers, totaling about 40 million in 2016, is expected to increase to 40% of the private, non-farm U.S. workforce by 2021.

What to expect from ShiftPixy Q3 2019 earnings results
Photo Courtesy: ShiftPixy / Facebook post

Analysts expect the company’s earnings to report a loss of $0.08 per share on revenue of $14.39 million for the third quarter. In comparison, during the previous year quarter, ShiftPixy posted a loss of $0.06 per share on revenue of $9.38 million. The company has surprised investors by beating analysts’ expectations in the previous quarter.

For the second quarter, ShiftPixy reported a narrower loss helped by a 67% jump in revenues. Gross billings soared by 70% year-over-year. The results was driven by continued expansion in the number of worksite employees on its platform which the company believes underscores the meaningful value its clients see in its business proposition.

Shares of ShiftPixy opened higher on Thursday but changed course to the red territory on the Nasdaq. The stock has fallen over 74% in the past year and over 37% in the past three months.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

UPDATE: The story has been updated with the latest earnings date, as the company postponed the announcement. An earlier version of the story said the company was due to report on July 15.

Most Popular

United Parcel Service (UPS) seems on track to regain lost strength

Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top