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Sep 30, 2021
Kforce Q3 2021 Earnings Report
Kforce's revenue and EPS meaningfully exceeded guidance, driven by strong performance in the Technology business.
Key Takeaways
Kforce reported Q3 2021 revenues of $402.7 million, a 10.2% increase year-over-year. Technology revenues grew 8.5% sequentially and 29.6% year-over-year. The company's net income was $20.2 million, or $0.96 per share, compared to $18.8 million, or $0.89 per share, in Q3 2020.
Revenue for Q3 2021 was $402.7 million, up 10.2% year-over-year.
Technology flex revenue increased 8.4% sequentially and 28.9% year-over-year.
Direct Hire revenue increased 10.6% sequentially and 55.1% year-over-year.
Net income for the quarter was $20.2 million, or $0.96 per share.
Revenue by Segment
Forward Guidance
Kforce provided guidance for Q4 2021 with revenue expected to be between $394 million and $402 million and earnings per share between $0.92 and $1.00.
Positive Outlook
- Revenue of $394 million to $402 million
- Earnings per share of $0.92 to $1.00
- Gross profit margin of 29.0% to 29.2%
- Flex gross profit margin of 26.8% to 27.0%
- Effective tax rate 19.5%
Challenges Ahead
- SG&A expense as a percent of revenue of 22.1% to 22.3%
- Operating margin of 6.4% to 6.8%
- WASO of 20,900
- There will be 61 billing days, which is one less day than the fourth quarter of 2020.
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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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