Kelly Services Q2 Results: Earnings Miss, Margin Pressure, Lower Sales & More
Portfolio Pulse from Nabaparna Bhattacharya
Kelly Services, Inc. (NASDAQ:KELYA) reported Q2 revenues of $1.217 billion, missing the analyst consensus of $1.24 billion. Revenues fell 3.9% YoY. Adjusted EPS of $0.36 also missed the street view of $0.40. Gross profit fell 8.3% YoY to $240.6 million, with gross margins of 19.8%, slumping 90 bps YoY due to lower permanent placement fees. The company's board declared a dividend of $0.075 per share. KELYA shares are trading lower by 3.34% to $17.67.
August 10, 2023 | 3:10 pm
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Kelly Services reported lower than expected Q2 results, with revenues and adjusted EPS missing analyst expectations. Gross profit and margins also fell YoY. The company's shares are trading lower.
Kelly Services reported lower than expected Q2 results, with both revenues and adjusted EPS missing analyst expectations. This negative news is likely to have a short-term negative impact on the company's stock price, as it indicates weaker than expected financial performance. The company's shares are already trading lower, reflecting this negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100