Robert Half International
(RHI - Free Report
) is the $4.6 billion iconic staffing firm that had over $6 billion in revenues last year. Unfortunately, with the COVID-19 crisis and stay-at-home orders making unemployment skyrocket, RHI will see a big hit to both the top and bottom lines this year.
Founded in 1948, Robert Half is one of the world's largest providers of professional consulting and staffing services. The company's specialized staffing divisions include Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources — for temporary, full-time and senior-level project professionals, respectively, in the fields of accounting and finance; OfficeTeam — for highly skilled administrative support professionals; Robert Half Technology — for project and full-time technology professionals; Robert Half Legal — for project and full-time staffing of lawyers, paralegals and legal support personnel; and The Creative Group — for creative, digital, marketing, and advertising professionals.
The Downward Earnings Estimates Revisions
Currently, the full-year 2020 consensus for revenues have dropped to $5.7 billion for a 6.25% decline.
And the EPS picture is much starker with a 24% drop from $4.13 to $3.14. For next year, the new estimate consensus among fell 20% from $4.43 to $3.54.
While we know that many of the severe economic and earnings impacts for business are just a temporary shock, the fact that analysts also took down 2021 estimates signals a view of recession that is potentially more lasting.
In this sense, when more visibility about the depth and duration of the recession is available, perhaps these estimates will be some of the first to turn back up with the employment outlook. The Zacks Rank will let you know.
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