Kelly Q1 revenue down 17.6% to $1.05B; adj. earnings $23.1M, adj. EBITDA margin 3.2%; to acquire Motion Recruitment

KELLY SERVICES INC

2024-Q1 EPS reported $0.70 revenue$1,045,100,000

Revenue $1.05B, down 17.6% YoY (organic -2.6%); operating earnings $26.8M vs $10.7M.
Adjusted earnings $23.1M (excl. $11.6M gain on sale & $7.9M charges); adjusted EPS $0.56 vs $0.42.
Adjusted EBITDA margin 3.2%, up 110 bps YoY; driven by cost reductions and European ops sale.
Definitive agreement to acquire Motion Recruitment Partners, expects Q2 2024 close.
Dividend $0.075/share declared, payable June 4, 2024 to holders of record May 20.

item 2.02 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 first quarter of 2024 results: revenue $1.05 billion, EPS $0.70.

Period: the first quarter of 2024
Revenue: $1.05 billion
EPS: $0.70
Result: reported results

Exact text from the filing

Kelly (Nasdaq: KELYA, KELYB), a leading specialty talent solutions provider, today announced results for the first quarter of 2024. Peter Quigley, president and chief executive officer, announced revenue for the first quarter of 2024 totaled $1.05 billion, a 17.6% decrease, compared to the corresponding quarter of 2023 resulting primarily from the sale of the company’s European staffing operations on January 2, 2024.

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Source: SEC EDGAR

accession 0000055135-24-000016

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