Monday, May 12, 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.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q1 Results. The Company recorded revenue of $1.16 billion, up 11.5% year-over-year, in line with our estimate of $1.16 billion. Adj. EBITDA came in at $34.9 million, up 4.8% over the prior year period and modestly lower than our estimate of $36.5 million. Adj. EBITDA margin decreased 20 basis points to 3.0%. Furthermore, Kelly reported net income of $0.16/sh. On an adjusted basis, EPS was $0.39/sh compared to $0.56/sh last year and our estimate of $0.60/sh.
MRP Integration. The majority of MRP operations were absorbed into the SET segment. However, MRP’s Sevenstep business, along with the OCG and P&I segments, have been combined into Enterprise Talent Management (ETM). In connection with the integration and realignment, Kelly took a $10.7 million charge in the quarter.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*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.