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Mar 31, 2024
Kforce Q1 2024 Earnings Report
Kforce reported first quarter revenue of $351.9 million and EPS of $0.58.
Key Takeaways
Kforce's first quarter performance was generally consistent with expectations, with revenue at $351.9 million and EPS at $0.58. The company was encouraged by March trends in its Technology business and believes the current operating environment is more stable than in 2023.
First quarter revenue was $351.9 million, a decrease of 13.3% year-over-year.
Technology Flex revenue decreased 11.4% year-over-year.
FA Flex revenue decreased 27.2% year-over-year.
Diluted earnings per share were $0.58, a decrease of 29.3% year-over-year.
Forward Guidance
Kforce provided guidance for the second quarter of 2024, including revenue between $352 million and $360 million and earnings per share between $0.68 and $0.76.
Positive Outlook
- Revenue of $352 million to $360 million
- Earnings per share of $0.68 to $0.76
- Gross profit margin of 27.4% to 27.6%
- Flex gross profit margin of 25.8% to 26.0%
- SG&A expenses as a percent of revenue of 21.6% to 21.8%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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