Movers and SHAKERS
Kelly Services Inc. (KELYA)
How Does COVID Impact the Rest of the Year?
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.
2Q20 Results. Second quarter revenue declined 28.7% to $975.3 million, driven by the COVID crisis. On a constant currency basis, revenue dropped 27.7%. Operating earnings totaled $11.1 million, down from $34.8 million in the year ago period. Diluted EPS was $1.04 versus $2.21 in the second quarter of 2019. On an adjusted basis EPS was $0.51 in 2Q20 compared to $0.81 in 2Q19. We had forecast revenue of $1.025 billion and a loss of $0.17 per share.
Positives in the Quarter. There were some bright spots in the quarter, such as the Outcomes Based business, which actually grew in the quarter, Russia, also up, and some of the Company's specialty offerings, like Life Sciences. Although 2Q revenues were off 28.7% overall, the June exit rate improved to ...
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.