We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Robert Half's Q3 Earnings Surpass Estimates, Decline Y/Y
Read MoreHide Full Article
Robert Half International Inc. (RHI - Free Report) reported better-than-expected third-quarter 2024 results.
Quarterly earnings of 64 cents per share beat the consensus mark by 1.6% but declined 28.9% year over year. Revenues of $1.47 billion beat the consensus mark by 1.7% but decreased 6.3% year over year.
The company’s shares have depreciated 25.3% year to date compared with the 18.8% decline of the industry.
Robert Half Inc. Price, Consensus and EPS Surprise
RHI’s Talent Solutions Revenues Down, Protiviti Up
Talent Solutions’ revenues of $954 million decreased 13% year over year on an as-adjusted basis and came in above our estimate of $947.9 million. U.S. Talent Solutions’ revenues of $725 million were down 13% year over year. Non-U.S. Talent Solutions revenues also decreased 13% year over year on an adjusted basis to $229 million.
Protiviti revenues came in at $511 million, up 5% year over year on an as-adjusted basis and above our expectation of $490.2 million. The U.S. Protiviti revenues of $411 million increased 8% year over year on an adjusted basis. Non-U.S. Protiviti revenues of $90 million declined 8% year over year on an as-adjusted basis.
Currency exchange rate movements had an insignificant impact on revenues in the quarter. The quarter had 64.1 billing days compared with 63.1 billing days in the year-ago quarter.
RHI’s Margins Contract
Adjusted gross profit in the quarter was $577.8 million, down 9.5% year over year. The adjusted gross profit margin of 39.4% declined 140 basis points year over year.
RHI’s Key Balance Sheet and Cash Flow Figures
Robert Half ended the quarter with a cash and cash equivalent balance of $570.5 million compared with $547.4 million witnessed at the previous quarter end. Operating cash in the quarter was $130 million and capital expenditures were $17.8 million. RHI paid out $54 million in dividends and repurchased shares worth $49 million in the reported period.
Robert Half’s Q4 Guidance
For the fourth quarter of 2024, Robert Half expects revenues of $1.34-$1.44 billion. The midpoint ($1.39 billion) of the guided range is below the current Zacks Consensus Estimate of $1.41 billion.
EPS is expected between 47 cents and 61 cents. The current Zacks Consensus Estimate is pegged at 61 cents.
Omnicom (OMC - Free Report) reported impressive third-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.
OMC’s earnings of $2 per share beat the consensus estimate by 3.1% and increased 9.1% year over year. Total revenues of $3.9 billion surpassed the consensus estimate by 2.3% and increased 8.5% year over year.
Equifax (EFX - Free Report) reported mixed third-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate while revenues missed the same.
EFX’s adjusted earnings were $1.8 per share, beating the Zacks Consensus Estimate by a slight margin and increasing by 5.1% from the year-ago quarter’s actual. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 9.3% from the year-ago quarter.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Robert Half's Q3 Earnings Surpass Estimates, Decline Y/Y
Robert Half International Inc. (RHI - Free Report) reported better-than-expected third-quarter 2024 results.
Quarterly earnings of 64 cents per share beat the consensus mark by 1.6% but declined 28.9% year over year. Revenues of $1.47 billion beat the consensus mark by 1.7% but decreased 6.3% year over year.
The company’s shares have depreciated 25.3% year to date compared with the 18.8% decline of the industry.
Robert Half Inc. Price, Consensus and EPS Surprise
Robert Half Inc. price-consensus-eps-surprise-chart | Robert Half Inc. Quote
RHI’s Talent Solutions Revenues Down, Protiviti Up
Talent Solutions’ revenues of $954 million decreased 13% year over year on an as-adjusted basis and came in above our estimate of $947.9 million. U.S. Talent Solutions’ revenues of $725 million were down 13% year over year. Non-U.S. Talent Solutions revenues also decreased 13% year over year on an adjusted basis to $229 million.
Protiviti revenues came in at $511 million, up 5% year over year on an as-adjusted basis and above our expectation of $490.2 million. The U.S. Protiviti revenues of $411 million increased 8% year over year on an adjusted basis. Non-U.S. Protiviti revenues of $90 million declined 8% year over year on an as-adjusted basis.
Currency exchange rate movements had an insignificant impact on revenues in the quarter. The quarter had 64.1 billing days compared with 63.1 billing days in the year-ago quarter.
RHI’s Margins Contract
Adjusted gross profit in the quarter was $577.8 million, down 9.5% year over year. The adjusted gross profit margin of 39.4% declined 140 basis points year over year.
RHI’s Key Balance Sheet and Cash Flow Figures
Robert Half ended the quarter with a cash and cash equivalent balance of $570.5 million compared with $547.4 million witnessed at the previous quarter end. Operating cash in the quarter was $130 million and capital expenditures were $17.8 million. RHI paid out $54 million in dividends and repurchased shares worth $49 million in the reported period.
Robert Half’s Q4 Guidance
For the fourth quarter of 2024, Robert Half expects revenues of $1.34-$1.44 billion. The midpoint ($1.39 billion) of the guided range is below the current Zacks Consensus Estimate of $1.41 billion.
EPS is expected between 47 cents and 61 cents. The current Zacks Consensus Estimate is pegged at 61 cents.
Currently, Robert Half carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Results From Some Other Service Providers
Omnicom (OMC - Free Report) reported impressive third-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.
OMC’s earnings of $2 per share beat the consensus estimate by 3.1% and increased 9.1% year over year. Total revenues of $3.9 billion surpassed the consensus estimate by 2.3% and increased 8.5% year over year.
Equifax (EFX - Free Report) reported mixed third-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate while revenues missed the same.
EFX’s adjusted earnings were $1.8 per share, beating the Zacks Consensus Estimate by a slight margin and increasing by 5.1% from the year-ago quarter’s actual. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 9.3% from the year-ago quarter.