Monday, November 10, 2025
Kelly (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 350,000 people around the world and connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was $4.9 billion. Visit kellyservices.com and let us help with what’s next for you.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. Kelly reported 3Q25 results below expectations, even after scrubbing away a number of one-time events. Lower demand from the federal government and a few large customers negatively impacted results. Nonetheless, Kelly continued to capture growth in certain markets.
3Q25 Results. 3Q25 revenue fell 9.9% to $935 million from $1.04 billion last year. Consensus was $973 million, and we were at $975 million. Adjusted EBITDA was $16.5 million, or a 1.9% margin, compared to $26.2 million, or a 2,5% margin, in 3Q24. Consensus was $33 million, and we were at $33.5 million. Adjusted EPS was $0.18 vs $0.21 last year. Consensus was $0.42, we were at $0.45.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.