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Mar 31, 2021
Kforce Q1 2021 Earnings Report
Kforce's first quarter revenue of $363.2 million, up 10.1% year-over-year on a billing day basis, with EPS of $0.62, an increase of 48% year-over-year.
Key Takeaways
Kforce Inc. reported strong first-quarter results, with revenue reaching $363.2 million, a 10.1% increase year-over-year on a billing day basis. The company's EPS increased by 48% year-over-year, driven by growth in the technology staffing segment.
Revenue for the quarter ended March 31, 2021, was $363.2 million, up 10.1% year-over-year on a billing day basis.
Tech Flex revenues increased 3.1% sequentially and 6.3% on a year-over-year billing day basis.
Operating margin increased 120 basis points year-over-year to 5.4%.
Operating cash flows were $22.4 million compared to $3.0 million in the prior year.
Revenue by Segment
Forward Guidance
Kforce anticipates revenue between $387 million and $397 million and earnings per share between $0.87 and $0.95 for the second quarter of 2021.
Positive Outlook
- Revenue of $387 million to $397 million
- Earnings per share of $0.87 to $0.95
- Gross profit margin of 28.4% to 28.6%
- Flex gross profit margin of 26.6% to 26.8%
- Operating margin of 7.7% to 8.1%
Challenges Ahead
- SG&A expense as a percent of revenue of 20.2% to 20.4%
- WASO of 21.4 million
- Effective tax rate of 29.5%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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