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Sep 30, 2022
Kforce Q3 2022 Earnings Report
Reported third quarter revenue of $437.6 million, with technology revenues growing approximately 16% year-over-year.
Key Takeaways
Kforce reported strong Q3 2022 results, with revenue at $437.6 million, an 8.7% increase year-over-year, and EPS at $1.09. The Technology business was a key driver, growing nearly 16% year-over-year.
Revenue for the quarter ended September 30, 2022 was $437.6 million, an 8.7% increase year-over-year.
Technology revenue increased 15.8% year-over-year.
Net income for the quarter ended September 30, 2022 was $22.3 million, or $1.09 per share, versus $20.2 million, or $0.96 per share, in the quarter ended September 30, 2021.
Returned $28.5 million in capital to shareholders through share repurchases and dividends.
Revenue by Segment
Forward Guidance
Kforce provided Q4 2022 revenue guidance of $414 million to $422 million and EPS guidance of $0.88 to $0.96.
Positive Outlook
- Revenue of $414 million to $422 million
- Earnings per share of $0.88 to $0.96
- Gross profit margin of 28.7% to 28.9%
- Flex gross profit margin of 26.5% to 26.7%
- SG&A expense as a percent of revenue of 22.6% to 22.8%
Challenges Ahead
- Operating margin of 5.6% to 6.0%
- WASO of 20.0 million
- Effective tax rate of 20.6%
- There will be 61 billing days, which is three fewer compared to the third quarter of 2022
- Overall macro-economic uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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