Kelly Services Q3 revenue down 2.3%, posts operating loss of $21.4M on goodwill impairment; authorizes $50M buyback

KELLY SERVICES INC

2022-Q3 EPS reported -$1.62 revenue$3,731,600,000

Revenue $1.2B, down 2.3% (up 0.3% constant currency); operating loss $21.4M vs income $9.0M a year ago.
$30.7M non-cash goodwill impairment on RocketPower due to tech hiring slowdown; adjusted operating earnings up 7% to $9.5M.
GAAP loss per share $0.43 (includes $0.67 impairment charge); adjusted EPS $0.25, flat YoY.
Board authorized $50M share repurchase of Class A common stock, expires Nov 24, 2023.
Declared $0.075/share dividend payable Dec 7, 2022 to holders of record Nov 23.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KELLY SERVICES INC reported the third quarter of 2022 results: revenue $1.2 billion, EPS loss per share of $0.43.

Period: the third quarter of 2022
Revenue: $1.2 billion
EPS: loss per share of $0.43
Result: reported results

Exact text from the filing

provider, today announced results for the third quarter of 2022. Peter Quigley, president and chief executive officer, announced revenue for the third quarter of 2022 totaled $1.2 billion, a 2.3% decrease, or 0.3% increase in constant currency, compared to the corresponding quarter of 2021. Year-over-year revenue trends were impacted by foreign currency headwinds

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KELLY SERVICES INC filing history →

Source: SEC EDGAR

accession 0000055135-22-000020

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