Published on 15 Feb 2024 on GuruFocus.com via Yahoo Finance
Kelly Services Inc (KELYA) Reports Q4 Earnings: Adjusted EBITDA Margin Expands Amidst Flat Revenue
Revenue: Q4 revenue remained flat at $1.2 billion, with a slight decrease of 1.3% in constant currency.Operating Earnings: Reported a significant increase to $7.3 million in Q4, up 59% from the previous year.Adjusted EBITDA Margin: Improved by 60 basis points to 2.6% due to reduced operating expenses from business transformation initiatives.Net Earnings: Q4 net earnings of $11.4 million, a notable turnaround from a loss of $0.9 million in the same quarter last year.Earnings Per Share (EPS): Adjusted EPS jumped to $0.93 in Q4, up from $0.18 per share in Q4 of the prior year.Dividend: Declared a dividend of $0.075 per share, payable on March 13, 2024.Balance Sheet: Year-to-Date Free Cash Flow improved to $61.4 million, reversing the previous year's negative free cash flow.
Warning! GuruFocus has detected 8 Warning Signs with KELYA.
On February 15, 2024, Kelly Services Inc (NASDAQ:KELYA), a leading provider of workforce solutions and staffing services, released its 8-K filing, detailing the financial results for the fourth quarter of 2023. The company operates through various segments, offering staffing services, permanent placement, and outcome-based services, with a focus on Professional & Industrial, Science, Engineering & Technology, Education, Outsourcing & Consulting, and International markets.