Kforce Q3 revenue $437.6M (+8.7% YoY), EPS $1.09; tech revenue up 15.8%

KFORCE INC

2022-Q3 EPS reported $3.31 revenue$1,291,103,000

Technology revenue grew 15.8% YoY to $437.6M total; FA revenue down 28% due to planned COVID-19 project wind-down.
Net income $22.3M ($1.09 EPS) vs $20.2M ($0.96 EPS) YoY; near top of guidance.
Returned $28.5M to shareholders via $22.5M share repurchases and $6M dividends.
Q4 guidance: revenue $414M-$422M, EPS $0.88-$0.96; expects to slightly exceed full-year 2022 guidance of $1.7B revenue and $4.20 EPS.
Board approved $0.30/share dividend payable Dec 23, 2022 to holders of record Dec 9, 2022.

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

KFORCE INC reported fourth quarter of 2022 results: revenue $414 million to $422 million, EPS $0.88 to $0.96. Guidance initiated.

Period: fourth quarter of 2022
Revenue: $414 million to $422 million
EPS: $0.88 to $0.96
Guidance: initiated
Result: guidance update

Exact text from the filing

Current estimates for the fourth quarter of 2022 are: • Revenue of $414 million to $422 million • Earnings per share of $0.88 to $0.96 • Gross profit margin of 28.7% to 28.9% • Flex gross profit margin of 26.5% to 26.7% • SG&A expense as a percent of revenue of 22.6% to 22.8% • Operating margin of 5.6% to 6.0% • WASO of 20.0 million • Effective tax rate of 20.6%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KFORCE INC reported third quarter ended September 30, 2022 results: revenue $437.6 million, net income $22.3 million, EPS $1.09.

Period: third quarter ended September 30, 2022
Revenue: $437.6 million
Net income: $22.3 million
EPS: $1.09
Result: reported results

Exact text from the filing

• Revenue for the quarter ended September 30, 2022 was $437.6 million and increased 8.7% year-over-year. Excluding the impact of the planned run-off in the COVID-19 project-related business, overall revenue would have improved 10.7% year-over-year. • Technology revenue increased 15.8% year-over-year. • FA revenue decreased 28.0% year-over-year as a result of the planned reductions in our COVID-19 project- related business and repositioning efforts. • Flex gross profit margins decreased 70 basis points year-over-year. • Operating margins decreased 10 basis points year-over-year. • Net income for the quarter ended September 30, 2022 was $22.3 million, or $1.09 per share, versus $20.2 million, or $0.96 per share, in the quarter ended September 30, 2021. • Returned $28.5 million in capital to our shareholders through $22.5 million in share repurchases and $6.0 million in dividends.

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Source: SEC EDGAR

accession 0000930420-22-000197

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