KELLY SERVICES Reports Second Quarter Fiscal Year 2023 Earnings Results
August 23, 2023
🌥️Earnings Overview
KELLY SERVICES ($NASDAQ:KELYA) announced on June 30, 2023 that their total revenue for the second quarter of fiscal year 2023 remained at USD 1217.2 million, the same as it was in the same quarter of the previous year. Additionally, their net income for the quarter was also unchanged, at USD 7.5 million.
Price History
The stock opened at $18.1 and closed at $17.5, down by 4.5% from the previous closing price of 18.3. These strong results were driven by increased demand in the job placement and staffing services as well as a favorable exchange rate. Looking ahead, Kellys Services remains optimistic about their outlook for the remainder of the fiscal year and expects to continue to deliver strong year-over-year growth. The company is also committed to continuing to invest in new technologies and services that will enable them to better meet customer needs in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kelly Services. More…
| Total Revenues | Net Income | Net Margin |
| 4.89k | 0.9 | 0.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kelly Services. More…
| Operations | Investing | Financing |
| 54.4 | -15.8 | -62.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Kelly Services. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.6k | 1.35k | 35.09 |
Key Ratios Snapshot
Some of the financial key ratios for Kelly Services are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.3% | -11.1% | 0.1% |
| FCF Margin | ROE | ROA |
| 0.7% | 0.2% | 0.1% |
Analysis
GoodWhale has assessed the wellbeing of KELLY SERVICES to be quite healthy. Using the Star Chart, we can see that KELLY SERVICES has a high health score of 8/10, indicating its ability to pay off debt and fund future operations. We can also observe that when it comes to different aspects of the company’s performance, it is strong in asset and dividend, medium in profitability, but weak in growth. Based on these findings, we classify KELLY SERVICES as a ‘cow’, which is a type of company that has a track record of paying out consistent and sustainable dividends. As such, this type of company may be attractive to those looking for a steady, passive income. Investors who prioritize stability and income over capital appreciation may also find the stock interesting. More…
Peers
In the staffing industry, there is intense competition between Kelly Services Inc and its competitors Pasona Group Inc, Beijing Career International Co Ltd, and Staffing 360 Solutions Inc. All four companies are vying for a larger share of the market, and each has its own strengths and weaknesses.
– Pasona Group Inc ($TSE:2168)
Pasona Group Inc is a Japanese staffing company. The company matches workers with employers in a wide range of industries. Pasona Group Inc has a market cap of 79.76B as of 2022, a Return on Equity of 25.98%. The company has a long history and is a well-known brand in Japan.
– Beijing Career International Co Ltd ($SZSE:300662)
Beijing Career International Co Ltd is a Chinese company that operates in the education industry. The company offers a range of services including educational consulting, overseas study placement, and language training. Beijing Career International Co Ltd has a market cap of 8.58B as of 2022, a Return on Equity of 13.51%. The company has a strong focus on the Chinese education market and has a significant presence in the country. Beijing Career International Co Ltd is a publicly traded company listed on the Shenzhen Stock Exchange.
– Staffing 360 Solutions Inc ($NASDAQ:STAF)
Staffing 360 Solutions Inc is a publicly traded company with a market cap of 6.66M as of 2022. The company provides staffing and consulting services to a variety of industries, including healthcare, information technology, and finance. The company has a Return on Equity of 2.48%.
Summary
KELLY SERVICES investors may be disappointed with the company’s reported earnings for the second quarter of 2023, as total revenue and net income stayed the same as the previous year, at USD 1217.2 million and USD 7.5 million respectively. Despite no growth in terms of revenue and income, stock price moved down the same day, suggesting that investors remain unconvinced of KELLY SERVICES’ potential for future growth. Therefore, investors should continue to exercise caution when considering an investment in KELLY SERVICES.
Related Posts
Recent Posts
