Published on 11 May 2024 on GuruFocus.com via Yahoo Finance
Kelly Services Inc (KELYA) Q1 Earnings: Adjusted EPS Outperforms, Revenue Dips Amid Strategic Shifts
Revenue: Reported $1.05 billion, a decrease of 17.6% year-over-year, exceeding estimates of $1.012 billion.Net Income: Achieved $25.8 million, significantly exceeding estimates of $16.87 million.Earnings Per Share (EPS): Reported at $0.70, surpassing the estimated $0.50.Adjusted EBITDA Margin: Improved by 110 basis points to 3.2%, reflecting effective cost management and operational efficiencies.Dividend: Declared a quarterly dividend of $0.075 per share, payable on June 4, 2024.Future Outlook: Expects further EBITDA margin expansion following the acquisition of Motion Recruitment Partners, LLC in Q2 2024.Strategic Actions: Noted significant gains from the sale of European staffing operations and ongoing transformation initiatives aimed at streamlining operations.
Warning! GuruFocus has detected 4 Warning Sign with KELYA.
