Kelly Services Q3 revenue down 9.9% to $935M; operating loss of $102M on $102M goodwill impairment

KELLY SERVICES INC

2025-Q3 EPS reported -$3.56 vs consensus $0.43 ▼ miss (-932.7%)

Q3 revenue $935.0M, down 9.9% YoY; underlying revenue down ~2% excluding discrete gov't & customer impacts.
Operating loss of $102.1M includes $102.0M non-cash goodwill impairment in SET segment.
Adjusted EPS $0.18 vs $0.21 YoY; adjusted EBITDA margin fell 70 bps to 1.8%.
Income tax expense $46.4M includes $69.7M valuation allowance on work opportunity credit carryforwards.
CEO cites sluggish labor market; co. plans active Class A share repurchases in Q4.

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