Company Recognition - Robert Half has been named one of Fortune's Best Workplaces for Women and one of Forbes' World's Top Companies for Women 2024, highlighting its commitment to creating an inclusive workplace for women [1] - The company has also been recognized as one of the Fortune® Most Admired Companies™ and 100 Best Companies to Work For in the past 12 months [5] Methodology and Criteria - Fortune's Best Workplaces for Women is based on a survey of approximately 600,000 women, evaluating workplace culture, benefits, and advancement opportunities with a focus on women's development [2] - Forbes' World's Top Companies for Women uses insights from over 100,000 women across 37 countries, assessing women's perceptions of their employers, public sentiment on gender equity, and female representation in leadership roles [2] Commitment to Women's Success - Robert Half is dedicated to fostering an inclusive workplace where women can thrive, offering comprehensive benefits and creating a culture of belonging [3] - The company plans to introduce new family planning benefits and services for mothers in 2025, including expanded adoption assistance, greater access to family planning coverage, and resources for new mothers returning to work [3] - Robert Half's Global Women's Employee Network (GWEN) provides opportunities for connection and professional development for women worldwide [3] Programs and Benefits - The company offers leadership development programs, mentorship opportunities, and enhanced benefits to support new mothers returning to work [4] - These initiatives are part of Robert Half's broader commitment to empowering women to build rewarding, long-term careers [4] About Robert Half - Robert Half is the world's first and largest specialized talent solutions and business consulting firm, connecting skilled job seekers with opportunities in finance, accounting, technology, marketing, creative, legal, and administrative fields [5] - The company also provides executive search services and is the parent company of Protiviti, a global consulting firm offering internal audit, risk, business, and technology consulting solutions [5]

Revenue Performance - Revenue for the first three quarters of 2024 was $4.41 billion, a decrease of 10.3% compared to the prior year[60] - The company's total revenues for Q3 2024 were $1.47 billion, a 6.3% decrease compared to $1.56 billion in Q3 2023[71] - Total revenues for the nine months ended September 30, 2024, were $4.41 billion, a 10.3% decrease compared to $4.92 billion in the same period in 2023[90] Net Income and Earnings - Net income for the first three quarters of 2024 was $197 million, with diluted net income per share of $1.91[60] - Total income before income taxes for Q3 2024 was $95 million, or 6.5% of revenues, down from $136 million, or 8.7% of revenues, in Q3 2023[84] - Combined segment income for Q3 2024 was $90 million, or 6.2% of revenues, down from $130 million, or 8.3% of revenues, in Q3 2023[84] - Total income before income taxes was $282 million, or 6.4% of revenues, for the nine months ended September 30, 2024[101] - Combined segment income was $266 million, or 6.0% of revenues, for the nine months ended September 30, 2024[102] Contract Talent Solutions - Contract talent solutions revenues decreased by 11.9% to $831 million in Q3 2024, driven by a 12.8% decrease in hours worked[71] - Contract talent solutions revenues decreased by 14.5% to $2.57 billion for the nine months ended September 30, 2024, compared to $3.01 billion in the same period in 2023[90] - Contract talent solutions gross margin dollars decreased by 13.9% to $323 million in Q3 2024 from $375 million in Q3 2023, with gross margin percentage dropping to 38.9% from 39.8%[73][75] - Contract talent solutions gross margin dollars decreased by 15.7% to $1.01 billion in 2024 from $1.20 billion in 2023, with gross margin percentage dropping to 39.3% from 39.8%[92] - Contract talent solutions selling, general and administrative expenses increased by 3.7% to $318 million in Q3 2024 from $307 million in Q3 2023, representing 38.3% of revenues compared to 32.5% in Q3 2023[78][79] - Contract talent solutions selling, general and administrative expenses decreased by 2.8% to $958 million in 2024 from $986 million in 2023, with the expense ratio rising to 37.2% from 32.8%[96] Permanent Placement Talent Solutions - Permanent placement talent solutions revenues decreased by 11.9% to $123 million in Q3 2024, due to a 13.6% decrease in placements[72] - Permanent placement talent solutions revenues decreased by 15.0% to $379 million for the nine months ended September 30, 2024, compared to $446 million in the same period in 2023[90] - Permanent placement talent solutions gross margin dollars declined by 11.9% to $123 million in Q3 2024 from $140 million in Q3 2023[74][75] - Permanent placement talent solutions gross margin dollars fell by 15.0% to $378 million in 2024 from $445 million in 2023, maintaining a gross margin percentage of 99.8%[92] - Permanent placement talent solutions selling, general and administrative expenses decreased by 5.0% to $113 million in Q3 2024 from $119 million in Q3 2023, but increased as a percentage of revenues to 92.0% from 85.3%[78][79] - Permanent placement talent solutions selling, general and administrative expenses decreased by 9.8% to $346 million in 2024 from $384 million in 2023, with the expense ratio increasing to 91.3% from 86.1%[97] Protiviti Performance - Protiviti revenues increased by 6.4% to $511 million in Q3 2024, driven by a 4.4% increase in average hourly bill rates and a 2.0% increase in billable hours[72] - Protiviti revenues decreased by 0.3% to $1.46 billion for the nine months ended September 30, 2024, compared to $1.47 billion in the same period in 2023[90] - Protiviti's gross margin dollars remained flat at $126 million in Q3 2024 compared to Q3 2023, but gross margin percentage decreased to 24.6% from 26.2%[74][75] - Protiviti's gross margin dollars decreased by 7.3% to $323 million in 2024 from $348 million in 2023, with reported gross margin percentage dropping to 22.1% from 23.8%[92] - Protiviti's selling, general and administrative expenses increased by 12.4% to $80 million in Q3 2024 from $71 million in Q3 2023, representing 15.6% of revenues compared to 14.7% in Q3 2023[78][79] - Protiviti's selling, general and administrative expenses increased by 3.6% to $229 million in 2024 from $221 million in 2023, with the expense ratio rising to 15.6% from 15.1%[97] Gross Margin Analysis - Total gross margin dollars decreased by 10.8% to $572 million in Q3 2024 from $641 million in Q3 2023, with gross margin percentage dropping to 39.0% from 41.0%[73][75] - Gross margin for the three months ended September 30, 2024 was $571.7 million, or 39.0% of revenue, compared to $640.9 million, or 41.0% of revenue, for the same period in 2023[76] - Adjusted gross margin for the three months ended September 30, 2024 was $577.7 million, or 39.4% of revenue, compared to $638.1 million, or 40.8% of revenue, for the same period in 2023[76] - Total gross margin dollars decreased by 14.0% to $1.71 billion for the nine months ended September 30, 2024, compared to $1.99 billion in 2023[92] - Gross margin for the nine months ended September 30, 2024, was $1,711,132, representing 38.8% of revenue, compared to $1,990,840, or 40.5% of revenue, for the same period in 2023[95] - Adjusted gross margin for the nine months ended September 30, 2024, was $1,728,809, or 39.2% of revenue, compared to $1,998,091, or 40.6% of revenue, for the same period in 2023[95] Selling, General, and Administrative Expenses - Selling, general and administrative expenses increased by 2.8% to $511 million in Q3 2024 from $497 million in Q3 2023, representing 34.9% of revenues compared to 31.8% in Q3 2023[78][79] - Adjusted selling, general and administrative expenses decreased by 4.0% to $488 million in Q3 2024 from $508 million in Q3 2023, representing 33.3% of revenues compared to 32.5% in Q3 2023[78][79] - Selling, general and administrative expenses for the nine months ended September 30, 2024, were $1.53 billion, down 3.6% from $1.59 billion in 2023, with the expense ratio increasing to 34.7% from 32.3%[96] - Adjusted selling, general, and administrative expenses for the nine months ended September 30, 2024, were $1.46 billion, down 6.1% from $1.56 billion in the same period in 2023[96] U.S. and International Operations - U.S. operations accounted for 78.2% of total revenue in Q3 2024, while international operations contributed 21.8%[71] - U.S. operations contributed $1.15 billion (78.2% of total revenue) in Q3 2024, a 5.2% decrease from $1.21 billion (77.3% of total revenue) in Q3 2023[71] - International operations generated $319 million (21.8% of total revenue) in Q3 2024, a 10.2% decrease from $355 million (22.7% of total revenue) in Q3 2023[71] - Revenues from U.S. operations decreased by 10.0% to $3.44 billion for the nine months ended September 30, 2024, compared to $3.82 billion in the same period in 2023[90] - Revenues from international operations decreased by 11.1% to $976 million for the nine months ended September 30, 2024, compared to $1.10 billion in the same period in 2023[90] Economic and Labor Market Conditions - U.S. real GDP increased by 2.8% during the first three quarters of 2024, while the unemployment rate rose from 3.7% to 4.1%[61] - The unemployment rate for college-educated individuals in the U.S. remained low at 2.3%, with even lower rates for in-demand accounting, finance, and IT positions[61] Headcount and Workforce Strategy - The company decreased headcount for contract and permanent placement talent solutions segments but increased full-time headcount for Protiviti compared to prior year-end levels[61] - The company's proprietary "Recruiters plus award-winning AI" strategy continues to add significant value to clients[61] Income Taxes and Investments - The provision for income taxes was 31.2% for Q3 2024, up from 29.9% in Q3 2023, primarily due to nondeductible expenses[88] - The Company's (income) loss from investments held in employee deferred compensation trusts was income of $29 million for Q3 2024, compared to a loss of $14 million in Q3 2023[83] - Income from investments held in employee deferred compensation trusts was $88 million for the nine months ended September 30, 2024[101] Cash Flow and Capital Expenditures - Cash and cash equivalents were $570 million at September 30, 2024[104] - Operating activities provided cash flows of $255 million during the nine months ended September 30, 2024[104] - Capital expenditures totaled $65 million for the nine months ended September 30, 2024, with $23 million for cloud computing arrangements[105] - The company expects 2024 capital expenditures to range from $80 million to $90 million, with $45 million to $55 million for software initiatives and technology infrastructure[105] - Cash and cash equivalents decreased to $570 million as of September 30, 2024, from $729 million in 2023[104] - Operating activities provided cash flows of $255 million in the nine months ended September 30, 2024, compared to $522 million in the same period in 2023[104] - Capital expenditures for the nine months ended September 30, 2024, totaled $65 million, with 58% allocated to software initiatives and technology infrastructure[105] - The company repurchased 2.5 million shares at a cost of $171 million during the nine months ended September 30, 2024[105] - The company announced a quarterly dividend of $0.53 per share, payable on December 13, 2024[105] Financial Obligations and Credit Facilities - Employee deferred compensation plan obligations totaled $664 million as of September 30, 2024[107] - The company reported current and long-term operating lease liabilities of $66 million and $173 million, respectively, as of September 30, 2024[107] - The company has an unsecured revolving credit facility of $100.0 million, maturing in May 2026, with no borrowings as of September 30, 2024[105]

Dividend Announcement - The board of directors of Robert Half Inc has approved a quarterly cash dividend of $0 53 per share [1] - The cash dividend will be paid on Dec 13, 2024, to all shareholders of record as of Nov 25, 2024 [1] Company Overview - Robert Half is the world's first and largest specialized talent solutions and business consulting firm [2] - The company connects highly skilled job seekers with rewarding opportunities at great companies [2] - Robert Half offers contract talent and permanent placement solutions in various fields including finance and accounting, technology, marketing and creative, legal, and administrative and customer support [2] - The company also provides executive search services [2] - Robert Half is the parent company of Protiviti®, a global consulting firm that delivers internal audit, risk, business, and technology consulting solutions [2] Industry Recognition - In 2024, Robert Half, including Protiviti, has been named one of the Fortune® Most Admired Companies™ and 100 Best Companies to Work For [2] - The company has also been recognized as a Forbes Best Employer for Diversity [2]

Company Achievements - Robert Half's mobile app has been honored with five prestigious w3 Awards, including gold awards for excellence in user experience and user interface, and recognition for visual design, recruitment sites, and best practices for mobile app sites [1] - This marks the third consecutive year the Robert Half Mobile App has been honored by the Academy of Interactive and Visual Arts (AIVA) [2] Mobile App Features - The Robert Half Mobile App is a top-ranked app in North America for job seekers, offering a unique and customizable digital experience that supports users through every step of the hiring journey [3] - The app allows candidates to receive interview requests and instantly schedule them, reducing the length of the interview process [3] - Users can quickly create an account by uploading their resume, enabling them to easily apply for jobs with a single tap, track application status, manage interview requests and job offers, and send feedback directly to Robert Half [3] Company Overview - Robert Half is the world's first and largest specialized talent solutions and business consulting firm, connecting highly skilled job seekers with rewarding opportunities at great companies [4] - The company offers contract talent and permanent placement solutions in various fields, including finance and accounting, technology, marketing and creative, legal, and administrative and customer support, and provides executive search services [4] - Robert Half is the parent company of Protiviti, a global consulting firm that delivers internal audit, risk, business, and technology consulting solutions [4] - In the past 12 months, Robert Half, including Protiviti, has been named one of the Fortune® Most Admired Companies™ and 100 Best Companies to Work For [4]

Core View - The analyst recommended a sell rating for Robert Half Inc (NYSE: RHI) due to near-term uncertainties and the lack of positive catalysts, expecting the share price to remain under pressure [1] Investment Criteria - An ideal investment should operate in a sector projected to experience structural (organic) growth exceeding GDP growth over the next 5-10 years [1] - The company should generate profits from sustainable competitive advantages that translate into attractive unit economics [1] - The investment should be managed by competent, ethical, and long-term thinkers [1] - The valuation should be fair [1]

Robert Half International Inc. (RHI) 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.RHI’s Talent Solutions Revenues Down, Protiviti UpTalent Solutions’ revenues of $954 million decreased 13% year o ...

Robert Half Inc. (NYSE:RHI) Q3 2024 Earnings Conference Call October 22, 2024 5:00 PM ET Company Participants Keith Waddell - President and Chief Executive Officer Michael Buckley - Chief Financial Officer Conference Call Participants Andrew Steinerman - JPMorgan Mark Marcon - Robert W. Baird Company Princy Thomas - Barclays Trevor Romeo - William Blair Tobey Sommer - Truist George Tong - Goldman Sachs Stephanie Moore - Jefferies Operator Hello, and welcome to the Robert Half Third Quarter 2024 Conference C ...

For the quarter ended September 2024, Robert Half (RHI) reported revenue of $1.47 billion, down 6.3% over the same period last year. EPS came in at $0.64, compared to $0.90 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.44 billion, representing a surprise of +1.74%. The company delivered an EPS surprise of +1.59%, with the consensus EPS estimate being $0.63.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stree ...

Robert Half (RHI) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.59%. A quarter ago, it was expected that this staffing firm would post earnings of $0.71 per share when it actually produced earnings of $0.66, delivering a surprise of -7.04%.Over the last four quarters, the company ...

MENLO PARK, Calif., Oct. 22, 2024 /PRNewswire/ -- Robert Half Inc. (NYSE: RHI) today reported revenues and earnings for the third quarter ended September 30, 2024.For the three months ended September 30, 2024, net income was $65 million, or $0.64 per share, on revenues of $1.465 billion. For the three months ended September 30, 2023, net income was $96 million, or $0.90 per share, on revenues of $1.564 billion.For the nine months ended September 30, 2024, net income was $197 million, or $1.91 per share, on ...