Movers and SHAKERS
Kelly Services Inc. (KELYA)
Improving Operating Environment; Raising PT
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.
1Q21. Revenue of $1.21 billion was down 4.4% year-over-year as the impact from COVID continued to moderate. Kelly reported operating earnings of $10.6 million compared to a loss in 1Q20 which was impacted by a goodwill impairment charges and a gain on the sale of assets. GAAP EPS for 1Q21 was $0.64 compared to an EPS loss of $3.91 in 1Q20. Adjusted EPS for the first quarter was $0.12 versus $0.20 last year. We had projected revenue of $1.18 billion and adjusted EPS of $0.16.
Improving Demand. Kelly saw strong demand across all of its operating segments in the quarter. OCG reported positive 9.5% revenue growth in the quarter and the SET, Education, and International segments all reported sequential revenue improvement. P&I is seeing improved revenue growth rates ...
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.