Kforce Q1 rev $406M, EPS $0.82; tech flex +2.2%; Q2 guidance rev $392-400M, EPS $0.94-1.02

KFORCE INC

2023-Q1 EPS reported $0.82 revenue$405,997,000

Q1 revenue $406.0M, down 2.6% YoY from $417.0M; net income $16.2M ($0.82 EPS) vs $19.2M ($0.93 EPS).
Technology revenue +1.4% YoY; Technology Flex revenue +2.2% YoY; FA revenue -27.9% YoY.
Gross profit margin 28.1% (-160 bps); Flex GP margin 26.2% (-90 bps); SG&A as % of rev 22.0% (-80 bps).
Q2 2023 guidance: revenue $392-400M, EPS $0.94-1.02, GP margin 28.7-28.9%, Flex GP margin 26.6-26.8%.
Board approved Q2 dividend $0.36/share (record June 16, payable June 30); $10M share repurchased in Q1.

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 0.9

KFORCE INC reported the second quarter of 2023 results: revenue $392 million to $400 million, EPS $0.94 to $1.02. Guidance initiated.

Period: the second quarter of 2023
Revenue: $392 million to $400 million
EPS: $0.94 to $1.02
Guidance: initiated
Result: guidance update

Exact text from the filing

Current estimates for the second quarter of 2023 are: • Revenue of $392 million to $400 million • Earnings per share of $0.94 to $1.02

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KFORCE INC reported the first quarter ended March 31, 2023 results: revenue $406.0 million, net income $16.2 million, EPS $0.82 per share.

Period: the first quarter ended March 31, 2023
Revenue: $406.0 million
Net income: $16.2 million
EPS: $0.82 per share
Result: reported results

Exact text from the filing

Revenue for the quarter ended March 31, 2023 was $406.0 million compared to $417.0 million for the quarter ended March 31, 2022, a decrease of 2.6% year-over-year. • Overall Technology revenue increased 1.4% and FA revenue decreased 27.9% year-over-year. • Gross profit margins of 28.1% and Flex gross profit margins of 26.2% decreased 160 and 90 basis points year-over-year, respectively. • SG&A expenses as a percentage of revenue was 22.0% for the quarter ended March 31, 2023, which decreased 80 basis points year-over-year. • Operating margins were 5.8% for the quarter ended March 31, 2023, a decrease of 90 basis points year-over-year. • Net income for the quarter ended March 31, 2023 was $16.2 million, or $0.82 per share, as compared to $19.2 million, or $0.93 per share, in the quarter ended March 31, 2022.

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Source: SEC EDGAR

accession 0000930420-23-000110

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