Kelly Services reported a fourth-quarter revenue of $1.1 billion, an 11.9% decrease year-over-year, primarily due to lower demand in ETM and SET segments. Despite the revenue decline, the company achieved a sixfold increase in full-year free cash flow to $114 million and reduced adjusted SG&A expenses by 11.1%. The company anticipates a return to organic revenue growth and adjusted EBITDA margin expansion in the second half of 2026.
Kelly Services reported second-quarter 2025 revenue of $1.1 billion, a 4.2% increase year-over-year, primarily due to the acquisition of Motion Recruitment Partners, LLC. However, organic revenue declined by 3.3%. Operating earnings significantly increased to $22.2 million, while adjusted EBITDA decreased by 8.7% to $37.0 million, with the adjusted EBITDA margin falling to 3.4%. Diluted EPS was $0.52, and adjusted diluted EPS was $0.54.
Kelly Services reported Q4 revenue of $1.2 billion, a decrease of 3.3% year-over-year, but an increase of 4.4% on an organic basis. The company reported an operating loss of $56.7 million, including $80.8 million in non-cash impairment charges. Adjusted EBITDA was $43.5 million, up 34% versus the prior year.
Kelly Services reported a revenue decrease of 7.1% year-over-year, primarily due to the sale of its European staffing operations, though organic revenue remained nearly flat. Operating earnings were $2.6 million, and adjusted earnings were $11.7 million. The company expects continued EBITDA margin expansion in Q4 2024 driven by the sale of European staffing operations, the acquisition of Motion Recruitment Partners, LLC (MRP), and ongoing transformation actions.
Kelly Services reported Q2 2024 revenue of $1.06 billion, a 13.1% decrease year-over-year, primarily due to the sale of European staffing operations. However, revenue improved 0.6% on an organic basis. Operating earnings increased to $12.2 million from $6.2 million in the previous year, with adjusted earnings at $28.1 million. Adjusted EPS was $0.71, up from $0.36 in Q2 2023.
Kelly Services reported a decrease in revenue for Q1 2024 due to the sale of its European staffing operations, but operating earnings increased significantly. The company's adjusted EBITDA margin also improved due to cost management efforts. They anticipate further margin expansion with the acquisition of Motion Recruitment Partners.
Kelly Services reported flat revenue and increased operating earnings for Q4 2023. Revenue totaled $1.2 billion, a slight decrease of 0.1% year-over-year. Operating earnings were $7.3 million, up from $4.6 million in the same quarter of the previous year. Adjusted earnings per share improved to $0.93 from $0.18 in the corresponding quarter of 2022.
Kelly Services reported break-even operating earnings in Q3 2023, compared to a loss of $21.4 million in Q3 2022. Revenue decreased by 4.3% to $1.1 billion. Adjusted EBITDA margin increased to 2.3% from 1.6% in the prior year.
Kelly Services reported a 3.9% decrease in revenue to $1.2 billion for Q2 2023, with operating earnings at $6.2 million, which included $8.0 million in transformation-related charges. Adjusted earnings per share were $0.36, a 20% decrease year-over-year. The company is focused on business transformation to improve EBITDA margin.