Kforce reported third quarter revenue of $373.1 million and earnings per share of $0.54, or $0.90 as adjusted for certain charges. The company experienced a sequential and year-over-year decrease in revenue but noted an improvement in consultant retention and new project starts towards the end of the quarter.
Revenue for Q3 2023 was $373.1 million, a decrease of 4.1% sequentially and 14.7% year-over-year.
As reported, diluted earnings per share for the quarter ended September 30, 2023 were $0.54 per share, a decrease of 50% year-over-year. As adjusted, diluted earnings per share were $0.90, a decrease of 17% year-over-year.
Overall Technology revenue decreased 3.9% sequentially and 13.4% year-over-year.
The Board of Directors approved a fourth quarter cash dividend of $0.36 per share.
Kforce provided guidance for the fourth quarter of 2023, including revenue between $359 million and $367 million and earnings per share between $0.74 and $0.82.
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