Barrett Business Services, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 5, 2026, reporting third-quarter net income of $16.750 million on total revenues of $334.062 million.

Key Highlights

  • Total revenues: $334.062 million for the three months ended September 30, 2026, up from $318.949 million in the same period of 2025, according to the filing.
  • Net income: $16.750 million for Q3 2026, compared with $20.619 million in Q3 2025, the company reported.
  • Nine-month net income: $14.817 million for the nine months ended September 30, 2026, versus $38.052 million for the same period in 2025, per the filing.
  • Diluted earnings per share: $0.69 for Q3 2026, compared with $0.79 for Q3 2025, as disclosed in the filing.
  • Share repurchases: The company repurchased a combined 1,188 thousand shares during the nine months ended September 30, 2026, for a total cost of approximately $35.484 million, according to the equity statements.
  • Shares outstanding: 23,964,307 shares of common stock were outstanding as of October 21, 2026, the filing stated.
  • Total assets: $746.583 million as of September 30, 2026, down from $779.067 million at December 31, 2025, per the balance sheet.

Barrett Business Services Reports Q3 2026 Revenue Growth With Lower Net Income

Barrett Business Services, Inc. (NASDAQ:BBSI), a Maryland-incorporated staffing and professional employer services company headquartered in Vancouver, Washington, reported total revenues of $334.062 million for the three months ended September 30, 2026, according to its quarterly filing. Professional employer services contributed $316.212 million of that total, while staffing services added $17.850 million. For the nine-month period, total revenues reached $960.335 million, compared with $919.172 million for the first nine months of 2025.

The filing disclosed that gross margin for Q3 2026 was $72.671 million, compared with $76.765 million in Q3 2025. The company reported that benefit costs rose to $29.104 million in the third quarter of 2026 from $20.230 million in the same quarter of 2025, and workers' compensation costs increased to $57.921 million from $51.310 million. Income from operations for Q3 2026 was $21.231 million, down from $24.782 million a year earlier. The provision for income taxes was $5.783 million in Q3 2026, compared with $6.133 million in Q3 2025.

On the balance sheet, total assets stood at $746.583 million as of September 30, 2026, with trade accounts receivable of $328.730 million and cash and cash equivalents of $46.098 million. Total stockholders' equity was $207.759 million at quarter-end, compared with $241.000 million at December 31, 2025. The company paid cash dividends of $0.08 per share in each of the first two quarters of 2026, as reflected in the equity statements. Comprehensive income for Q3 2026 was $14.609 million, after recording an unrealized loss on investments of $2.141 million, net of tax.

What Was Disclosed

Barrett Business Services filed its unaudited interim condensed consolidated financial statements for the quarter and nine months ended September 30, 2026, showing higher revenues year-over-year but lower net income, driven in part by increased benefit and workers' compensation costs.