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Thursday, November 7, 2019
Kelly Services Inc. (KELYA)
What Was Behind the Disappointing 3Q19 Results?
Kelly Services Inc is a provider of workforce solutions and consulting and staffing services. The company’s operations are divided into three business segments namely Americas Staffing, Global Talent Solutions (“GTS”) and International Staffing. It provides staffing solutions through its branch networks in Americas and International operations and also provides a suite of innovative talent fulfilment and outcome-based solutions through GTS segment. Americas Staffing generates maximum revenue from its operations.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
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- Miss on top and bottom lines. Kelly Services reported 3Q19 revenue of $1,267.7 million and adjusted EPS of $0.37, this compares to $1,342.4 million and $0.56, respectively, last year. We forecast $1,345 million and $0.51, respectively. The miss was due to revenue declines across all three operating segments.
- Challenging Quarter. U.S. top line was negatively impacted by a slow uptick in the restructured branch operations network and a…
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This Company Sponored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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