NASDAQ$KELYA
Kelly Services Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported fourth-quarter earnings with revenue remaining flat and adjusted EBITDA margin increasing due to expense reductions.
Kelly Services reported flat revenue and increased operating earnings for Q4 2023. Revenue totaled $1.2 billion, a slight decrease of 0.1% year-over-year. Operating earnings were $7.3 million, up from $4.6 million in the same quarter of the previous year. Adjusted earnings per share improved to $0.93 from $0.18 in the corresponding quarter of 2022.
- Q4 revenue was $1.2 billion, a 0.1% decrease year-over-year, or a 1.3% decrease in constant currency.
- Operating earnings for Q4 were $7.3 million, compared to $4.6 million in Q4 2022.
- Adjusted earnings per share were $0.93, an improvement from $0.18 in the corresponding quarter of 2022.
- Adjusted EBITDA margin increased 60 basis points to 2.6% due to operating expense reductions from business transformation initiatives.
Headline financials
Revenue & EPS history
Kelly Services · Revenue · Quarterly
$1.23B
Revenue by segment
Kelly Services · $508M total across 2 segments · Q2 2023
- Science, Engineering & Technology$301M-7.1%59.4%
- Education$206M+32.7%40.6%
Forward guidance
The company expects the Q1 2024 sale of European staffing operations, sustained structural expense reductions, and near-term outcomes from growth initiatives to drive further expansion of EBITDA margin.
Tailwinds
- Sale of European staffing operations in Q1 2024
- Sustained structural expense reductions
- Near-term outcome from growth initiatives
- EBITDA margin propelled to 3% entering 2024
- Company is well positioned to capture increased customer demand when the operating environment rebounds and accelerate profitable growth
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-0.1%
Avg return
Earnings day
-0.3%
Avg return
5 days after
-2.6%
Avg return
30 days after
50%
31 / 62 earnings
Positive
+26.2%
Q4 2021
Best reaction
-25.8%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | +0.3% | +20.2% | |
| Q4 2025 | -1.3% | -5.7% | -13.9% | |
| Q3 2025 | -17.7% | -23.3% | -25.5% | |
| Q1 2025 | +10.0% | +8.7% | +4.6% | |
| Q4 2024 | +7.2% | +1.3% | +0.0% | |
| Q3 2024 | -25.8% | -28.3% | -35.6% | |
| Q2 2024 | -4.9% | -0.2% | -2.1% | |
| Q1 2024 | -1.3% | -3.5% | -8.0% | |
| Q4 2023 | +7.2% | +9.5% | +13.7% | |
| Q3 2023 | +6.0% | +10.2% | +15.0% | |
| Q2 2023 | -5.8% | -4.6% | -1.4% | |
| Q1 2023 | +11.8% | +11.3% | +12.7% | |
| Q4 2022 | -7.9% | -6.9% | -16.1% | |
| Q3 2022 | +12.5% | +6.9% | -0.9% | |
| Q2 2022 | -17.6% | -17.9% | -31.4% | |
| Q1 2022 | -2.3% | +4.5% | +3.9% | |
| Q4 2021 | +26.2% | +26.0% | +23.9% | |
| Q3 2021 | -8.4% | -11.2% | -17.2% | |
| Q2 2021 | -6.6% | -14.1% | -20.2% | |
| Q1 2021 | +2.4% | +1.6% | +0.6% | |
| Q4 2020 | -1.9% | +4.5% | +5.1% | |
| Q3 2020 | -1.0% | +15.8% | +25.2% | |
| Q2 2020 | +6.9% | +20.9% | +15.7% | |
| Q1 2020 | -9.4% | -9.4% | +3.9% | |
| Q4 2019 | +11.1% | +5.5% | -28.9% | |
| Q3 2019 | -10.9% | -11.5% | -11.2% | |
| Q2 2019 | +4.3% | +4.5% | -11.7% | |
| Q1 2019 | +9.8% | +8.9% | +6.4% | |
| Q4 2018 | +2.9% | +6.5% | -8.0% | |
| Q3 2018 | -3.3% | -6.1% | -16.8% | |
| Q2 2018 | +0.3% | +0.7% | +3.1% | |
| Q1 2018 | -20.3% | -30.0% | -25.3% | |
| Q4 2017 | +2.7% | +3.0% | +1.2% | |
| Q3 2017 | +8.2% | +10.7% | +9.3% | |
| Q2 2017 | -1.0% | -1.2% | +0.6% | |
| Q1 2017 | +0.9% | +8.4% | +5.6% | |
| Q4 2016 | +0.0% | -5.2% | -3.9% | |
| Q3 2016 | -3.0% | +6.3% | +14.4% | |
| Q2 2016 | -7.5% | -6.7% | -9.7% | |
| Q1 2016 | +2.8% | — | — | |
| Q4 2015 | +2.6% | — | — | |
| Q3 2015 | +5.0% | — | — | |
| Q2 2015 | -4.5% | — | — | |
| Q1 2015 | +0.7% | — | — | |
| Q4 2014 | +8.3% | — | — | |
| Q3 2014 | -10.1% | — | — | |
| Q2 2014 | -4.8% | — | — | |
| Q1 2014 | -8.1% | — | — | |
| Q4 2013 | +0.8% | — | — | |
| Q3 2013 | -2.0% | — | — | |
| Q2 2013 | -3.4% | — | — | |
| Q1 2013 | +0.2% | — | — | |
| Q4 2012 | -4.6% | — | — | |
| Q3 2012 | -5.8% | — | — | |
| Q2 2012 | +11.9% | — | — | |
| Q1 2012 | +5.2% | — | — | |
| Q4 2010 | +4.2% | — | — | |
| Q3 2010 | -6.9% | — | — | |
| Q2 2010 | +13.8% | — | — | |
| Q4 2011 | +13.8% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q1 2010 | +4.2% | — | — |
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