Movers and SHAKERS
Kelly Services Inc. (KELYA)
Better Than Expected 3Q EPS But End Markets Remain Fluid
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.
Refer to the full report for the price target, fundamental analysis, and rating.
3Q Results. Revenue declined 18.1% to $1.04 billion, as COVID-related demand declines persist. GAAP EPS of $0.42 versus a loss of $0.27 last year. Adjusted EPS of $0.29 for 3Q20 versus $0.43 in 3Q19. We had projected revenue of $1.05 billion and EPS of $0.09. Consensus called for $1.047 billion and $0.10, respectively.
Positives, But Covid Continues to Negatively Impact. Kelly experienced sequential improvement across each of its business segments, with the September 2020 revenue exit rates better than the overall quarter average. Certain higher margin specialties have proved particularly resilient. Kelly continues to win new business, even in such depressed segments as Education. However, the impact of COVID ...
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.