UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number 0-1088 KELLY SERVICES, INC. (Exact Name of Registrant as specified in its Charter) (State or other jurisdiction of incorporation o ...

Kelly Services Inc. (NASDAQ:KELYA) Q4 2023 Earnings Call Transcript February 15, 2024 9:00 AM ET Company Participants Peter Quigley - President, CEO & Director Olivier Thirot - Executive VP & CFO Conference Call Participants Joe Gomes - Noble Capital Kevin Steinke - Barrington Research Kartik Mehta - Northcoast Research Marc Riddick - Sidoti Operator Good morning, and welcome to Kelly Services Fourth Quarter Earnings Conference Call. All parties will be in a listen-only until the question and answer portion ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 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. --------------------------------------------------------------------- (Exact name of registrant as specified in its charter) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 1, 2023 (State or other jurisdi ...

Financial Data and Key Metrics Changes - For Q3 2023, revenue totaled $1.1 billion, down 4.3% from the prior year, with a 150 basis points favorable currency impact, resulting in a 5.8% decline in constant currency [95][130] - Adjusted EPS for Q3 2023 was $0.50, doubling from $0.25 in Q3 2022 on a like-for-like basis [11] - SG&A expenses decreased by 1.2% year-over-year, with a significant 9.1% decrease on an adjusted basis [10][39] - The company generated $7 million of free cash flow in Q3, totaling $21 million year-to-date [21] Business Line Data and Key Metrics Changes - In the OCG segment, revenue declined 4% year-over-year, with MSP revenue also declining year-over-year but flat sequentially [9] - The Education segment reported a significant year-over-year growth of 23%, driven by improved fill rates and strong demand [18] - The Professional and Industrial segment saw an 11% year-over-year revenue decline, with staffing product revenue down 15% [43] - The SET segment revenue decreased by 8%, with permanent placement fees declining by 39% [128] Market Data and Key Metrics Changes - International segment revenue increased by 2% on a nominal basis but decreased by 6% in constant currency, with performance varying by geography [129] - Accounts receivable decreased by 9% year-over-year, reflecting a decrease in revenue and improved DSO, which was 63 days [107] Company Strategy and Development Direction - The company is focused on a comprehensive strategy to deliver a full suite of offerings to large enterprise customers, transforming culture, capabilities, and technology [6] - A $50 million share repurchase program was completed, indicating a commitment to returning value to shareholders while also prioritizing reinvestment in the business [7] - The sale of the European staffing business is expected to unlock significant capital for organic and inorganic growth initiatives [135][124] Management's Comments on Operating Environment and Future Outlook - Management noted that macroeconomic headwinds in Q3 were more pronounced than anticipated, leading to cautious customer behavior and longer decision-making times [46][82] - The company expects Q4 nominal revenue to decline by 50 to 150 basis points year-over-year, with a GP rate expected to decrease to about 19.8% [46] - Management remains optimistic about the structural changes made across the enterprise, anticipating significant improvements in profitability as market conditions improve [15][47] Other Important Information - The company is actively pursuing high-margin, high-growth acquisition opportunities, particularly in technology and education sectors [127] - The transformation initiative is expected to yield a normalized adjusted EBITDA margin of 3.3% to 3.5% by the end of 2023, reflecting over 100 basis points improvement from historical levels [141] Q&A Session Summary Question: What is the outlook for growth initiatives? - Management highlighted that the transformation includes efficiency and growth components, with a focus on local branch initiatives and enhancing service delivery [144] Question: How is the competitive landscape affecting pricing? - Management noted that while some smaller regional players may adjust pricing, they maintain price discipline and have not seen widespread changes among larger competitors [158] Question: What impact will the sale of the European staffing business have? - The sale is expected to reduce revenue by about $820 million but will improve gross margin rates and free cash flow generation [118][64]

Kelly Services, Inc. (NASDAQ:KELYA) Q2 2023 Earnings Conference Call August 10, 2023 9:00 AM ET Company Participants Peter Quigley - President and CEO Olivier Thirot - CFO Conference Call Participants Kartik Mehta - Northcoast Research Joe Gomes - Noble Capital Kevin Steinke - Barrington Research Mitra Ramgopal - Sidoti Operator Good morning and welcome to Kelly Services' Second Quarter Earnings Conference Call. All parties will be in a listen-only mode until the question-and-answer session of the call. Tod ...

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 July 2, 2023 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. --------------------------------------------------------------------- (Exact name of registrant as specified in its charter) (248) 362-4444 ----------- ...

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 April 2, 2023 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. --------------------------------------------------------------------- (Exact name of registrant as specified in its charter) (State or other jurisdict ...

SAFE HARBOR STATEMENT Q1 2023 This release contains statements that are forward lookingin natureand,accordingly, are subjecttorisks and uncertainties. The principal important risk factors that could cause our actualperformanceand future eventsand actions to differ materially fromsuch forward-lookingstatements include, but are notlimited to, changing market and economic conditions, the impact ofthe novel coronavirus (COVID-19) outbreak, competitive market pressures including pricing and technology introducti ...

Kelly Services, Inc. (NASDAQ:KELYA) Q4 2022 Earnings Conference Call February 16, 2023 9:00 AM ET Company Participants Peter Quigley - President, CEO & Director Olivier Thirot - EVP & CFO Conference Call Participants Joseph Gomes - NOBLE Capital Markets Kevin Steinke - Barrington Research Associates Jack Boyle - Northcoast Research Mitra Ramgopal - Sidoti & Company Operator Good morning, and welcome to the Kelly Services' Fourth Quarter Full Year 2022 Earnings Conference Call. [Operator Instructions]. Today ...

t 【 ® Fourth Quarter 2022 Takeaways. demand continues while broader staffing demand decelerates amid inflationary pressures in constant currency(1) bps favorable impact from the acquisition of RocketPower and Pediatric Therapeutic unfavorable impact from the sale of our Russian operations gross profit growth reflecting a GP rate of 20.3% up 60 bps year- permanent placement fees decelerate Near-term steps to capitalize on continued demand for specialty talent and build Focused on high demand specialties and ...