BGSF, Inc. (NYSE:BGSF) Q3 2023 Earnings Conference Call November 9, 2023 9:00 AM ET
Company Participants
Sandy Martin - IR, Three Part Advisors
Beth Garvey - Chair, President, & CEO
John Barnett - CFO
Conference Call Participants
Jeff Martin - Roth MKM
Howard Halpern - Taglich Brothers
George Melas - MKH Management Company
Mike Taglich - Taglich Brothers
Operator
Good morning, everyone, and welcome to the BGSF, Inc. fiscal 2023 third-quarter financial results conference call. [Operator Instructions].
Now I'd like to turn the call over to Sandy Martin, Three Part Advisors.
Sandy Martin
Thank you. Good morning, and welcome to the BGSF 2023 third-quarter earnings conference call.
With me on the call today are Beth Garvey, Chair, President, & Chief Executive Officer; and John Barnett, Chief Financial Officer.
After our prepared remarks, there will be a Q&A session. As noted, today's call is being webcast live. A replay will be available later today and archived on the company's Investor Relations page at investor.bgsf.com.
Today's discussion will include forward-looking statements, which are based on certain assumptions made by the company under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may materially different from those indicated by the forward-looking statements because of various risks and uncertainties including those listed in the company's filings with the Securities and Exchange Commission.
Management's statements are made as of today, and the company assumes no obligation to update these statements publicly even if new information becomes available in the future. During the call, management will also reference certain non-GAAP financial measures, which can be useful in evaluating the company's operations related to the financial conditions and results. These non-GAAP measures are intended to supplement GAAP financial information and should not be considered a substitute. Reconciliations of GAAP to non-GAAP measures are provided in today's earnings press release.
I'll now turn the call over to Beth Garvey. Beth?
Beth Garvey
Thank you, Sandy, and thank you, everyone, for joining us today for our third-quarter earnings discussion.
Our performance for the third quarter reflects continued progress on our long-term strategic initiatives. Our goals are to grow through organic and inorganic revenues and by diversification actions to higher value and specialized offerings in both segments. Property management solutions and our professional consulting and project work continue to enhance consolidated gross margins and companies return profile.
Our third-quarter performance reflects this progress with sales growth of 6.3% that resulted in total revenues of $83.5 million. We grew by 8% in Property Management segment and 5% in the Professional segment despite pockets of weakness mainly in the ERP-related consulting area.