secwatch.observer — SEC 8-K summary
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Issuer:     KELLY SERVICES INC (KELYA)
CIK:        0000055135
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0000055135-24-000016
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/55135/000005513524000016/0000055135-24-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/55135/000005513524000016/kelya-20240509.htm
  HTML page:      https://secwatch.observer/filing/0000055135-24-000016

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