Loading...
•
Sep 30, 2024
Kforce Q3 2024 Earnings Report
Reported revenue of $353.3 million and EPS of $0.75.
Key Takeaways
Kforce reported third quarter revenue of $353.3 million and EPS of $0.75, with revenue exceeding the midpoint of expectations and earnings per share exceeding the top end of guidance. The Technology business has been largely stable for the last four quarters.
Revenue for the quarter ended September 30, 2024 was $353.3 million, a decrease of 0.8% sequentially and 5.3% year over year.
Technology Flex revenue decreased 0.6% sequentially and 3.6% year over year.
Gross profit margins of 27.9% increased 10 basis points sequentially and 20 basis points year over year.
Diluted earnings per share for the quarter ended September 30, 2024 were $0.75, an increase of 38.9% year over year.
Revenue by Segment
Forward Guidance
Current estimates for the fourth quarter of 2024 are: •Revenue of $337 million to $345 million •Earnings per share of $0.56 to $0.64 •Gross profit margin of 27.4% to 27.6% •Flex gross profit margin of 25.9% to 26.1% •SG&A expenses as a percent of revenue of 22.4% to 22.6% •Operating margin of 4.3% to 4.7% •WASO of 18.6 million •Effective tax rate of 26.0%
Positive Outlook
- Revenue of $337 million to $345 million
- Earnings per share of $0.56 to $0.64
- Gross profit margin of 27.4% to 27.6%
- Flex gross profit margin of 25.9% to 26.1%
- Effective tax rate of 26.0%
Challenges Ahead
- SG&A expenses as a percent of revenue of 22.4% to 22.6%
- Operating margin of 4.3% to 4.7%
- WASO of 18.6 million
- There will be 62 billing days, compared to 64 billing days in the third quarter of 2024
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
Loading earnings performance data...
Loading earnings reaction data...