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Jun 30, 2024
Kelly Services Q2 2024 Earnings Report
Kelly Services' Q2 2024 earnings were announced, revealing a mix of challenges and strategic progress.
Key Takeaways
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.
Revenue decreased by 13.1% year-over-year to $1.06 billion, impacted by the sale of European staffing operations.
Organic revenue grew by 0.6%, indicating stabilization in customer demand.
Operating earnings rose to $12.2 million, with adjusted earnings reaching $28.1 million.
Adjusted EBITDA margin increased by 170 basis points to 3.7%, driven by cost reductions and the sale of European operations.
Revenue by Segment
Forward Guidance
Kelly expects further expansion of EBITDA margin from the May 31, 2024 acquisition of Motion Recruitment Partners, LLC ("MRP").
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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