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.
