HireQuest, Inc. (NASDAQ:HQI) Q1 2024 Earnings Conference Call May 9, 2024 4:30 PM ET

Company Participants

John Nesbett – IMS Investor Relations
Rick Hermanns – Chief Executive Officer
Steve Crane – Chief Financial Officer

Conference Call Participants

Kevin Steinke – Barrington Research

Operator

Greetings. Welcome to the HireQuest, Inc. First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to your host, John Nesbett of IMS Investor Relations. You may begin.

John Nesbett

Thank you, operator. I’d like to welcome everyone to the call. Hosting the call today are HireQuest’s Chief Executive Officer, Rick Hermanns; and Chief Financial Officer, Steve Crane. I’d like to take a moment to read the Safe Harbor statement. This conference call contains forward-looking statements as defined within the Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended.

These forward-looking statements in terms such as anticipate, expect, intend, may, will, should or other comparable terms involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. These statements include statements regarding the intent, belief or current expectations of HireQuest and members of its management as well as the assumptions on which such statements are based.

Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in HireQuest’s periodic reports filed with the SEC and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, HireQuest undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

I would now like to turn the call over to the CEO of HireQuest, Rick Hermanns. Please go ahead, Rick.

Rick Hermanns

Thank you, everyone, for joining today’s call. I’ll begin by providing an overview of our financial and strategic highlights from the first quarter of 2024, and then I’ll turn the call over to Steve, who will share more details around our first quarter financial results. Our first quarter results were in line with our expectations with franchise royalties of $7.8 million, total revenue of $8.4 million and net income from continuing operations of $1.7 million or $0.12 a share.