KELLY SERVICES INCKELYAEarnings & Financial Report
Kelly Services, Inc. is an American multinational office staffing company. The company places employees at all levels in various sectors including financial services, information technology, and law. Also, its professional services include human resource and management consulting, outsourcing, recruitment, career transition, and vendor management. Kelly Services was founded by William Russell Kelly in 1946 and is headquartered in Troy, Michigan.
Revenue
$1.1B
Gross Profit
$213.7M
Operating Profit
$12.2M
Net Profit
$4.6M
Gross Margin
20.2%
Operating Margin
1.2%
Net Margin
0.4%
YoY Growth
-13.1%
EPS
$0.12
KELLY SERVICES INC Q2 FY2024 Financial Summary
KELLY SERVICES INC reported revenue of $1.1B (down 13.1% YoY) for Q2 FY2024, with a net profit of $4.6M (down 38.7% YoY) (0.4% margin). Cost of goods sold was $843.8M, operating expenses totaled $201.5M.
Key Financial Metrics
| Total Revenue | $1.1B |
|---|---|
| Net Profit | $4.6M |
| Gross Margin | 20.2% |
| Operating Margin | 1.2% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
KELLY SERVICES INC Q2 FY2024 revenue of $1.1B breaks down across 6 segments, led by Science Engineering Technology at $317.3M (30.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Science Engineering Technology | $317.3M | 30.0% |
| Staffing Services | $269.6M | 25.5% |
| Education | $265.3M | 25.1% |
| Talent Solutions | $126.9M | 12.0% |
| Outcome Based Services | $120.8M | 11.4% |
| Permanent Placement | $2.9M | 0.3% |
KELLY SERVICES INC Revenue by Segment — Quarterly Trend
KELLY SERVICES INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Science Engineering Technology and Staffing Services) has evolved quarter over quarter.
| Segment | Q4 FY2024 | Q3 FY2024 | Q2 FY2024 | Q1 FY2024 |
|---|---|---|---|---|
| Science Engineering Technology | $295.8M | $304.9M | $317.3M | $322.4M |
| Staffing Services | $237.7M | $250.1M | $269.6M | $280.7M |
| Education | $293.1M | $143.3M | $265.3M | $309.0M |
| Talent Solutions | $120.5M | $127.2M | $126.9M | — |
| Outcome Based Services | $103.6M | $108.5M | $120.8M | $133.2M |
KELLY SERVICES INC Annual Revenue by Year
KELLY SERVICES INC annual revenue history includes year-by-year totals (for example, 2024 revenue was $4.3B).
| Year | Annual Revenue |
|---|---|
| 2024 | $4.3B |
| 2023 | $4.8B |
| 2022 | $5.0B |
| 2021 | $4.9B |
KELLY SERVICES INC Quarterly Revenue & Net Profit History
KELLY SERVICES INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2024 | $1.2B | -3.3% | N/A | N/A |
| Q3 FY2024 | $1.0B | -7.1% | $800.0K | 0.1% |
| Q2 FY2024 | $1.1B | -13.1% | $4.6M | 0.4% |
| Q1 FY2024 | $1.0B | -17.6% | $25.8M | 2.5% |
| Q4 FY2023 | $1.2B | -0.1% | $11.4M | 0.9% |
| Q3 FY2023 | $1.1B | -4.3% | $6.6M | 0.6% |
| Q2 FY2023 | $1.2B | -4.0% | $7.5M | 0.6% |
| Q1 FY2023 | $1.3B | -2.2% | $10.9M | 0.9% |
Income Statement
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.27B | $1.22B | $1.12B | $1.23B | $1.05B | $1.06B | $1.04B | $1.19B |
| YoY Growth | -2.2% | -4.0% | -4.3% | -0.1% | -17.6% | -13.1% | -7.1% | -3.3% |
Balance Sheet
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.59B | $2.60B | $2.55B | $2.58B | $2.40B | $2.63B | $2.69B | $2.63B |
| Liabilities | $1.34B | $1.35B | $1.31B | $1.33B | $1.12B | $1.35B | $1.41B | $1.40B |
| Equity | $1.25B | $1.24B | $1.24B | $1.25B | $1.28B | $1.28B | $1.28B | $1.23B |
Cash Flow
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-13.5M | $36.9M | $10.0M | $43.3M | $-25.5M | $57.7M | $-20.3M | $15.0M |