Financial Data and Key Metrics - Revenue for Q2 2024 totaled $1.06 billion, down 13.1% YoY, primarily due to the sale of the European staffing business, partially offset by the acquisition of MRP [6] - On an organic basis, YoY revenue improved 0.6%, reflecting strong growth in Education and stabilization in other businesses [7] - Adjusted EBITDA margin improved 180 basis points to 3.8%, driven by transformation efforts and the MRP acquisition [14] - Adjusted EPS for Q2 2024 was $0.71, nearly doubling from $0.36 in Q2 2023 [15] - Free cash flow for the quarter was $55 million, up from $32 million in the prior year period [16] Business Segment Performance - Education segment revenue grew 22% YoY, driven by new customer wins and increased demand [7] - SET segment revenue was up 10% on a reported basis but down 3% organically, with stable sequential trends [7] - OCG segment revenue improved 3%, driven by PPO specialty growth, while RPO and MSP revenues declined YoY [8] - Professional & Industrial segment revenue declined 9% YoY but stabilized sequentially [8] Market Performance - The company saw stabilization in demand across most businesses, with positive signs in Technology & Life Sciences [3] - The acquisition of MRP strengthened the company's position in technology, financial services, and healthcare markets [20] Strategy and Industry Competition - The company's strategy to deliver a full suite of offerings to large customers is gaining traction, improving share of wallet [4] - Kelly increased its position among the top 20 staffing firms in the U.S. by the widest margin from 2022 to 2023 [4] - The acquisition of MRP is expected to enhance revenue growth potential and EBITDA margin expansion [20] Management Commentary on Operating Environment and Future Outlook - Management expects modest sequential revenue improvement in P&I, SET, and OCG segments in H2 2024 [17] - Organic revenue growth for H2 2024 is expected to be 2.5% to 3.5%, with MRP adding $260-$270 million in revenue [17] - Adjusted EBITDA margin for H2 2024 is expected to be 3.2% to 3.3%, with MRP contributing an additional 30 basis points [19] Other Important Information - The company's debt to capital ratio is 14.1%, with $210 million of debt outstanding [16] - Global DSO improved to 57 days, down 4 days from Q2 2023 [16] - The company expects to sustain efficiency improvements from transformation-related actions, with adjusted SG&A expenses expected to decline 3.5% to 4.5% YoY organically [18] Q&A Session Summary Question: MRP Business Trends and Outlook - MRP revenue for H1 2024 was $260 million, with H2 expected to be flat to slightly down YoY [23][24] - Long-term optimism remains high for MRP due to its complementary nature with Kelly's business [25] Question: Pricing Trends Across Segments - Pricing trends remain stable, with no significant pressure on spreads observed in P&I, SET, or Education segments [26][27] Question: Future Acquisition Plans - The company is focused on integrating MRP but remains open to future acquisitions, particularly in high-margin, high-growth businesses in Science, Engineering, Technology, and Telecom or Education [28] Question: Organic Growth Drivers - Organic growth in Q2 was attributed to transformation-related initiatives, omnichannel strategy, and focus on large enterprise customers [29] Question: SG&A Expense Trends - Adjusted SG&A expenses are expected to decline 3.5% to 4.5% YoY organically in H2 2024, with MRP adding $60 million in expenses [18][33] Question: MRP Integration Progress - Integration of MRP is progressing well, with collaboration between teams and early signs of market and customer benefits [36][37] Question: Acquisition Pipeline - The acquisition pipeline remains active, with a focus on high-quality, high-growth, high-margin businesses [38] Question: Kelly Arc Update - Interest in Kelly Arc remains high, with a dozen-plus customers and hundreds of AI automation professionals on the platform [39][40] Question: Leverage and Future Acquisitions - The company's debt to EBITDA ratio is 1.7, with progress in deleveraging expected to continue [43][44] Question: Technology Investments - Annual CapEx is expected to be $20-$25 million, with potential increases due to MRP technology integration [45][46]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-1088 KELLY SERVICES, INC. --------------------------------------------------------------------- | --- | --- | --- | |----------------------------------------------------------- ...

Kelly Services (KELYA) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 33.96%. A quarter ago, it was expected that this staffing company would post earnings of $0.46 per share when it actually produced earnings of $0.56, delivering a surprise of 21.74%. Over the last four quarters, t ...

Exhibit 99.1 Kelly Reports Second-Quarter 2024 Earnings • Q2 operating earnings of $12.2 million; $28.1 million on an adjusted basis, up 95% • Q2 revenue down following sale of European staffing operations; up 0.6% on an organic basis • Q2 adjusted EBITDA margin increased 170 basis points to 3.7% driven by meaningful reduction in operating expenses resulting from business transformation initiatives and sale of European staffing operations • Company expects further expansion of EBITDA margin from the May 31, ...

Q2 operating earnings of $12.2 million; $28.1 million on an adjusted basis, up 95% Q2 revenue down following sale of European staffing operations; up 0.6% on an organic basis Q2 adjusted EBITDA margin increased 170 basis points to 3.7% driven by meaningful reduction in operating expenses resulting from business transformation initiatives and sale of European staffing operations Company expects further expansion of EBITDA margin from the May 31, 2024 acquisition of Motion Recruitment Partners, LLC ("MRP") TR ...

Q2 operating earnings of $12.2 million; $28.1 million on an adjusted basis, up 95% Q2 revenue down following sale of European staffing operations; up 0.6% on an organic basis Q2 adjusted EBITDA margin increased 170 basis points to 3.7% driven by meaningful reduction in operating expenses resulting from business transformation initiatives and sale of European staffing operations Company expects further expansion of EBITDA margin from the May 31, 2024 acquisition of Motion Recruitment Partners, LLC ("MRP") TR ...

Company Participation in Investor Conference - Kelly will participate in the Sidoti Virtual Investor Conference on August 14, 2024 [1] - Key executives including the president, CEO, CFO, and head of investor relations will engage in one-on-one meetings [2] - The investor presentation is available on the company's website [2] Company Overview - Kelly Services is a global specialty talent solutions provider, helping companies recruit and manage skilled workers while assisting job seekers in finding employment [3] - The company invented the staffing industry in 1946 and has since become an expert in various industries and markets [3] - Kelly connects over 500,000 people with work annually through a global network of suppliers and partners [3] - The company offers outsourcing and consulting services to ensure businesses have the right talent when and where needed [3] - Headquartered in Troy, Michigan, Kelly operates in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy [3] - Revenue for 2023 was $4.8 billion [3] Contact Information - Scott Thomas is the primary contact for analysts and media, reachable at (248) 251-7264 or scott.thomas@kellyservices.com [4]

TROY, Mich., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Kelly (Nasdaq: KELYA, KELYB), a leading global specialty talent solutions provider, today announced it will participate in the Sidoti Virtual Investor Conference on Wednesday, August 14, 2024. Peter Quigley, president and chief executive officer, Olivier Thirot, executive vice president and chief financial officer, and Scott Thomas, head of investor relations, will participate in one-on-one meetings. Kelly's investor presentation is available on the company's w ...

The call may be accessed in one of the following ways: About Kelly Via the telephone: (877) 692-8955 (toll free) or (234) 720-6979 (caller paid) Enter access code 5728672 After the prompt, please enter "#" KLYA-FIN TROY, Mich., July 25, 2024 (GLOBE NEWSWIRE) -- Kelly, a leading global specialty talent solutions provider, will release its second-quarter earnings before the market opens on Thursday, August 8, 2024. In conjunction with its second-quarter earnings release, Kelly will publish a financial present ...

Via the internet: kellyservices.com A recording of the conference call will be available after 1:30 p.m. ET on August 8, 2024, at (866) 207-1041 (toll-free) and (402) 970-0847 (caller-paid). The access code is 2784290#. The recording will also be available at kellyservices.com during this period. Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the man ...