Tag: KELYA

Monday, August 10, 2026

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. In the second quarter of 2026, Kelly exceeded guidance for both revenue and adjusted EBITDA margin, driven by growing momentum from the Company’s growth and efficiency initiatives as well as constructive demand trends in parts of the portfolio. Notably, Kelly delivered sequential improvements in each of the business segments.

2Q26 Results. Revenue was $1.04 billion, down approximately 5.8% y-o-y, but significantly better than the expected 7-9% revenue decline.  We were at $1.01 billion. Adjusted EBITDA for 2Q26 was $16.1 million, a 3.0% margin, above management’s 2.5% projection. We were at $25 million and 2.5%. Adjusted EPS was $0.37 versus $0.54 in 2Q25. We had estimated $0.30.

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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. 

Research News and Market Data on OCGN

August 6, 2026

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TROY, Mich., Aug. 06, 2026 (GLOBE NEWSWIRE) — Kelly (Nasdaq: KELYA, KELYB), a leading specialty talent solutions provider, today announced results for the second quarter of 2026.

• Q2 revenue of $1.0 billion, with year-over-year decline improving approximately 500 basis points (“bps”) versus the prior quarter; underlying revenue decline excluding previously disclosed discrete items improved 270 bps versus the prior quarter
• Underlying revenue year-over-year performance reflects strength in the ETM and SET segments with each improved at least 300 bps versus the prior quarter, along with a 40 bps improvement for the Education segment
• Q2 operating earnings of $16.1 million; $19.3 million of operating earnings on an adjusted basis
• Q2 adjusted EBITDA of $31.1 million and adjusted EBITDA margin of 3.0%, improved 110 bps on a year-over-year basis versus the prior quarter resulting from stable year-over-year gross profit rate and continued SG&A discipline
• Company increases its fiscal 2026 revenue outlook, now expecting a low-to-mid-single digit decline, and affirms its adjusted EBITDA margin expectation of modest year-over-year growth driven by accelerating underlying revenue growth and operating efficiencies

Chris Layden, chief executive officer, said, “In the second quarter, we measurably exceeded our guidance for both revenue and adjusted EBITDA margin driven by growing momentum from our growth and efficiency initiatives as well as constructive demand trends in parts of our portfolio. We delivered sequential improvements in each of our businesses as we continued to capitalize on organic growth drivers. Notably, Kelly’s adjusted EBITDA margin returned to 3.0% in the quarter, demonstrating our ability to generate operating leverage in pursuit of growth. Our progress strengthens our conviction in our strategy and reinforces our confidence in our expectation of further measurable improvement in our year-over-year performance as we progress through the second half of the year.”

Financial Results for the thirteen-week period ended June 28, 2026:

Revenue of $1.0 billion, a 5.8% decrease compared to the corresponding quarter of 2025. Discrete impacts associated with the previously disclosed reduced demand for U.S. federal government contractors in the SET segment and from three large commercial customers in the ETM segment totaled approximately 5.2%, resulting in an underlying revenue decline of approximately 0.6%. Underlying revenue performance includes overall growth from improved demand and new business in the ETM segment, including growth in staffing and each of the talent solutions specialties. Offsetting the growth was a measurably improved year-over-year decline within the SET segment which reflects continued year-over-year growth in the Telecom specialty and reduced declines in each of the SET specialties. SET revenue grew sequentially for the first time in over two years. Additionally, the Education segment showed an improved year-over-year decline which continues to be driven by delayed prior year contract decisions and declines in student enrollment in key markets.

Operating earnings of $16.1 million, compared to earnings of $22.2 million reported in the second quarter of 2025. Adjusted earnings¹ were $19.3 million in the second quarter of 2026 and $24.6 million in the second quarter of 2025. Adjusted EBITDA¹ of $31.1 million, a decrease of 15.9% versus the prior year period. Adjusted EBITDA margin of 3.0%, a decrease of 40 bps but improved 110 bps versus the prior quarter, reflects 10 bps lower gross margin partially offset by volume-related and structural expense management actions including benefits from our acquisition integration and technology modernization efforts. ETM showed year-over-year stability in its adjusted EBITDA margin while Education and SET both declined. Both ETM and SET improved their adjusted EBITDA margins measurably versus the prior quarter.

Income tax expense of $3.0 million, compared to income tax expense of $0.9 million reported in the second quarter of 2025. On an adjusted basis¹, income tax expense of $3.8 million, compared to income tax expense of $2.5 million in the second quarter of 2025.

Earnings per share was $0.31 compared to earnings per share of $0.52 in the second quarter of 2025. On an adjusted basis¹, earnings per share was $0.37 in the second quarter of 2026 compared to $0.54 per share in the corresponding quarter of 2025.

Financial Results for the 26-week period ended June 28, 2026:

Revenue of $2.1 billion, an 8.3% decrease compared to the corresponding period in 2025. Discrete impacts associated with the reduced demand for U.S. federal government contractors in the SET segment and from three large commercial customers in the ETM segment totaled approximately 6.3%, resulting in an underlying revenue decline of approximately 2.0%. Underlying revenue performance includes overall growth from improved demand in the ETM segment, including growth in each of the talent solutions specialties, along with growth in the Telecom specialty and improved performance in the Science and Engineering specialties within the SET segment. Offsetting this growth was continued lower demand in the other specialties within the SET segment, largely the Technology specialty, along with a decline in the Education segment driven by delayed prior year contract decisions and declines in student enrollment in key markets.

Operating earnings of $11.0 million, compared to earnings of $33.0 million reported over the same period in 2025. Adjusted earnings¹ were $23.4 million in the first six months of 2026 and $46.7 million in the corresponding period of 2025. Adjusted EBITDA¹ of $46.9 million, a decrease of 34.8% versus the prior year period. Adjusted EBITDA margin of 2.3%, a decrease of 90 bps, reflects near-term margin pressure in ETM, Education, and SET driven by lower gross margins and timing of revenue trends, partially offset by volume-related and structural expense management actions including benefits from our acquisition integration and technology modernization efforts.

Income tax expense of $2.2 million, compared to income tax expense of $2.7 million reported over the same period in 2025. On an adjusted basis¹, income tax expense of $5.3 million, compared to income tax expense of $7.2 million in the corresponding period of 2025.

Earnings per share was $0.15, compared to earnings per share of $0.67 in the same period of 2025. On an adjusted basis¹, earnings per share were $0.40 for the first six months of 2026 compared to $0.93 per share in the corresponding period of 2025.

¹ Adjusted measures represent non-GAAP financial measures. Refer to our reconciliation of non-GAAP financial measures to the most closely related GAAP measure included in this document.

Financial Outlook For Fiscal 2026:

The Company’s 2026 financial outlook has improved for revenue and remains unchanged for Adjusted EBITDA margin relative to the initial view previously disclosed, assumes no material change in the macroeconomic environment in the coming quarters, and is as follows:

• Third Quarter of 2026 – Expect year-over-year improvement relative to second quarter, with overall underlying revenue growth of 1% to 2%, and total revenue to be flat to a decline of 2% versus the prior year. Adjusted EBITDA margin in the low 2% range, representing 40 to 50 bps of year-over-year improvement relative to the prior year.
  • Outlook includes the seasonality impact of the Education business due to schools being out of session for the majority of the quarter which results in sequential revenue and profitability declines versus the second quarter.
• Fourth Quarter of 2026 – Expect substantial improvement in year-over-year performance versus third quarter for both revenue and adjusted EBITDA margin resulting in mid-to-upper single digits revenue growth and approximately 200 bps of year-over-year adjusted EBITDA margin expansion resulting in adjusted EBITDA margin of approximately 4%.
  • Outlook includes the impact of an extra fiscal week in the fourth quarter, which benefits revenue growth by approximately 4 points in the quarter, but negatively impacts adjusted EBITDA.
• Full Year 2026 – On a full year basis, expect low-to-mid single digit total revenue decline and a 10 to 20 bps year-over-year improvement in adjusted EBITDA margin.

Quarterly Cash Dividend:

Kelly also reported that on August 4, 2026, its board of directors declared a dividend of $0.075 per share. The dividend is payable on September 2, 2026 to stockholders of record as of the close of business on August 19, 2026.

In conjunction with its earnings release, Kelly has published a financial presentation and will host a live webcast of a conference call at 9 a.m. ET on August 6 to review the financial and operation results from the quarter. The presentation and a link to the live webcast will be accessible through the Company’s public website on the Investor Relations page under Events & Presentations. The webcast will be recorded, and a replay will be available within one hour of completion of the event through the same link as the live webcast.

Forward-Looking Statements:

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Kelly’s financial expectations, are forward-looking statements. Factors that could cause actual results to differ materially from those contained in this release include, but are not limited to, (i) changing market and economic conditions, (ii) disruption in the labor market and weakened demand for human capital resulting from technological advances, competitive pressures and pricing, loss of large corporate customers and government contractor requirements, (iii) the impact of laws and regulations (including federal, state and international tax laws), (iv) unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, (v) litigation and other legal liabilities (including tax liabilities) in excess of our estimates, (vi) our ability to achieve our business’s anticipated growth strategies, (vii) our future business development, results of operations and financial condition, (viii) damage to our brands, (ix) dependence on third parties for the execution of critical functions, (x) conducting business in foreign countries, including foreign currency fluctuations, (xi) availability of temporary workers with appropriate skills required by customers, (xii) cyberattacks or other breaches of network or information technology security, and (xiii) other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release and we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

About Kelly®

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect approximately 375,000 people with work every year. Our suite of outsourcing and consulting services and solutions ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2025 was $4.3 billion. Learn more at kellyservices.com.

KLYA-FIN

ANALYST & MEDIA CONTACT:
Scott Thomas
(248) 251-7264
[email protected]

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Research News and Market Data on KELYA

July 23, 2026

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TROY, Mich., July 23, 2026 (GLOBE NEWSWIRE) — Kelly, a global workforce strategy and solutions provider, will release its second-quarter earnings before the market opens on Thursday, August 6, 2026. In conjunction with its earnings release, Kelly will publish a financial presentation and host a live webcast of a conference call with financial analysts at 9 a.m. ET on August 6 to review the results from the quarter and answer questions.

The presentation and a link to the live webcast will be accessible through the Company’s public website on the Investor Relations page under Events & Presentations. The webcast will be recorded, and a replay will be available within one hour of completion of the event through the same link as the live webcast.

About Kelly

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect approximately 375,000 people with work every year. Our suite of outsourcing and consulting services and solutions ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2025 was $4.3 billion. Learn more at kellyservices.com.

KLYA-FIN

Analyst & Media Contacts:
Scott Thomas
(248) 251-7264
[email protected]

Research News and Market Data on Kelya

July 6, 2026

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Industry veteran brings more than 25 years of technology and digital leadership to newly created role

TROY, Mich., July 06, 2026 (GLOBE NEWSWIRE) — Kelly (Nasdaq: KELYA, KELYB), a global workforce strategy and solutions provider, has appointed Alan Stukalsky as chief product and technology officer, effective July 13. Stukalsky joins the Kelly senior leadership team, reporting to CEO Chris Layden, and will be responsible for overseeing the company’s product strategy, technology capabilities, and digital innovation efforts across its portfolio of specialty businesses.

“The workforce solutions industry is at an inflection point. Companies who successfully embed AI into their operations to better serve clients and candidates are going to pull away from the field,” Layden said. “That work is already underway at Kelly. Alan will scale it, drive operational excellence across the enterprise, and accelerate the pace at which we’re launching products that will help clients build tech-enabled workforces. He’s done it before and we’re excited to see the impact he’ll bring.”

Stukalsky brings more than 25 years of technology leadership and digital transformation experience to the newly created role. Throughout his career, he has led large-scale modernization efforts, enterprise platform transformations, cloud migrations, AI-enabled innovation, and the development of new digital business models. He is widely recognized for aligning technology, product, and business strategy to create industry-leading talent solutions and deliver measurable outcomes for customers, employees, and shareholders.

Most recently, Stukalsky served as chief digital and information officer at LHH, part of the Adecco Group. Prior to LHH, Stukalsky spent more than 16 years at Randstad, holding dual executive roles as chief digital officer and chief information officer for North America.

“This is an exciting time to join Kelly. The company is investing in the technology and products that will define how it competes in an AI-driven market,” Stukalsky said. “I’m passionate about making it easier for clients and candidates to work with us, embedding AI into the fabric of how we operate, and ensuring the people we place are equipped with the tools they need to succeed. I look forward to partnering with the talented Kelly team to build on a strong foundation and accelerate growth.”

Stukalsky is a passionate advocate for inspiring future STEM professionals and active with Junior Achievement, Georgia State University’s CIS program, and STE(A)M Truck. He has served on numerous industry and community boards and has been recognized as Georgia CIO of the Year for Large Enterprises. He holds a Bachelor of Science in Mechanical Engineering from Georgia Tech and a Bachelor of Science in Mathematics from Emory University.

About Kelly^®
Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect approximately 375,000 people with work every year. Our suite of outsourcing and consulting services and solutions ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2025 was $4.3 billion.

Media Contact
Christian Taske
248-561-8823
[email protected]

This press release was published by a CLEAR® Verified individual.

Thursday, June 04, 2026

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.

Labor Market Sustained Momentum? U.S. private employers added 122,000 jobs in May, according to ADP, exceeding the 120,000 consensus estimate and up from April’s 105,000 revised number. ADP noted, “The labor market continues to show sustained momentum going into the summer hiring season.” While still early, these improving green shoots provide encouragement for the second half improvement in Kelly’s business, in our view.

Broad-Based. ADP noted the hiring was more broad-based in May than in the last few years, with eight of the ten supersectors ADP tracks posting positive momentum. Gains were led by the education and health care sectors.

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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. 

Thursday, May 21, 2026

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.

Letter. In a letter to the members of Kelly’s Board of Directors, Chris Hunt, CEO of Hunt Companies and Chairman of Kelly’s Board, requested, on behalf of Hunt Companies, that Kelly form a special committee of independent and disinterested directors so that Kelly may be prepared to discuss and evaluate new potential opportunities for Kelly involving Hunt and its affiliates if and when presented without delay.

Letter Agreement. The formation of such a committee is a requirement of the Letter Agreement between Hunt and Kelly. In its letter, Hunt states, “We want to emphasize that any potential transaction would be pursued only in accordance with the terms of the Letter Agreement,” which contains a 1-year standstill on a going private transaction, which we believe provides protection to A shareholders as management continues to transform the Company. As a reminder, in January Hunt acquired approximately 92.2% of the controlling B shares.

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. 

Tuesday, May 12, 2026

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.

Income Statement. Our note yesterday reviewing Kelly’s first quarter operating results and updated projections went out with the incorrect updated income statement projections table. The numbers in the body of the report are correct. We have attached the correct updated model.

Maintaining Outperform. We are maintaining our Outperform rating and $17 price target. While it will take some time to see what changes Hunt will bring to Kelly, we believe the shares are oversold and present a positive risk/reward opportunity. Diversification into higher growth, higher margin specialties, and the benefits acquired from the expansion are significant assets that have repositioned the Company, in our view.

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. 

Monday, May 11, 2026

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. First quarter revenue exceeded management expectations, and adjusted EBITDA was in line with the outlook, driven by sequential improvement in ETM and pockets of growth in SET. More than offsetting these items are continued lower demand in the other specialties within the SET segment, largely the technology specialty, and a decline in the Education segment driven by delayed contract decisions, elevated weather-related school closures, and declines in student enrollment in key markets. Nonetheless, we believe management is taking the right steps to position Kelly to capitalize on any upturn.

1Q26 Results. Net revenue for 1Q26 was $1.0 billion, down 10.7% y-o-y. Discrete impacts associated with the previously disclosed reduced demand for U.S. federal government contractors in the SET segment and from three large commercial customers in the ETM segment totaled approximately 7.4%, resulting in an underlying revenue decline of approximately 3.3%. Adjusted EBITDA was $15.8 million, or a margin of 1.5%, versus $34.9 million and 3.0%, respectively, a year ago. Adjusted EPS declined to $0.03 from $0.39.

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.