Robert Half (RHI) came out with quarterly earnings of $0.66 per share, missing the Zacks Consensus Estimate of $0.71 per share. This compares to earnings of $1 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -7.04%. A quarter ago, it was expected that this staffing firm would post earnings of $0.60 per share when it actually produced earnings of $0.61, delivering a surprise of 1.67%. Over the last four quarters, the company ha ...

MENLO PARK, Calif., July 24, 2024 /PRNewswire/ -- Robert Half Inc. (NYSE: RHI) today reported revenues and earnings for the second quarter ended June 30, 2024. For the three months ended June 30, 2024, net income was $68 million, or $0.66 per share, on revenues of $1.473 billion. For the three months ended June 30, 2023, net income was $106 million, or $1.00 per share, on revenues of $1.639 billion. For the six months ended June 30, 2024, net income was $132 million, or $1.27 per share, on revenues of $2.94 ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) [Summary of Q2 2024 Results](index=1&type=section&id=Summary%20of%20Q2%202024%20Results) Robert Half reported Q2 and H1 2024 revenue and net income declines, with Protiviti showing strong growth despite macroeconomic caution Q2 & H1 2024 Financial Performance | Period | Metric | 2024 | 2023 | | :--- | :--- | :--- | :--- | | **Q2 (Three Months)** | Revenues | $1.473 billion | $1.639 billion | | | Net Income | $68 million | $106 million | | | Diluted EPS | $0.66 | $1.00 | | **H1 (Six Months)** | Revenues | $2.948 billion | $3.356 billion | | | Net Income | $132 million | $228 million | | | Diluted EPS | $1.27 | $2.14 | - CEO M. Keith Waddell noted that client and candidate caution continues to impact hiring and new project starts due to persistent macroeconomic and interest rate uncertainty[22](index=22&type=chunk) - The Protiviti segment delivered strong results, with U.S. revenues and segment income growing on both a sequential and year-over-year basis[22](index=22&type=chunk) - The company received several accolades, including being ranked No. 1 on Forbes' list of America's Best Professional Recruiting Firms and being named one of Fortune's Best Workplaces for Millennials[22](index=22&type=chunk) [Financial Statements](index=3&type=section&id=Financial%20Statements) [Consolidated Statements of Operations](index=3&type=section&id=SUMMARY%20OF%20OPERATIONS) Consolidated operations show year-over-year decreases in service revenues, gross margin, and net income for Q2 and H1 2024 Consolidated Statements of Operations (in thousands, except per share amounts) | Account | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | :--- | :--- | | **Service revenues** | **$1,472,524** | **$1,639,478** | **$2,948,461** | **$3,355,813** | | Gross margin | $576,679 | $660,169 | $1,139,476 | $1,349,901 | | Income before income taxes | $96,462 | $151,211 | $187,149 | $320,109 | | **Net income** | **$68,156** | **$106,292** | **$131,857** | **$228,297** | | **Diluted net income per share** | **$0.66** | **$1.00** | **$1.27** | **$2.14** | [Supplemental Financial Information](index=4&type=section&id=SUPPLEMENTAL%20FINANCIAL%20INFORMATION) Supplemental data shows year-over-year revenue declines across segments, except Protiviti, with decreases in cash and stockholders' equity Service Revenues by Segment (in thousands) | Segment | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | | :--- | :--- | :--- | | Total contract talent solutions | $854,897 | $999,383 | | Permanent placement talent solutions | $131,063 | $149,254 | | Protiviti | $486,564 | $490,841 | | **Total service revenues** | **$1,472,524** | **$1,639,478** | Business Segment Income (in thousands) | Segment | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | | :--- | :--- | :--- | | Contract talent solutions | $38,146 | $81,316 | | Permanent placement talent solutions | $16,148 | $21,730 | | Protiviti | $37,286 | $43,566 | Selected Balance Sheet Information (in thousands) | Account | June 30, 2024 | June 30, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $547,370 | $722,763 | | Total assets | $2,937,749 | $3,067,641 | | Total stockholders' equity | $1,480,155 | $1,625,271 | [Non-GAAP Financial Measures](index=5&type=section&id=Non-GAAP%20Financial%20Measures) [Explanation of Non-GAAP Measures](index=5&type=section&id=Explanation%20of%20Non-GAAP%20Measures) The company uses non-GAAP measures like adjusted gross margin, SG&A, and revenue growth to provide a clearer view of operational trends - The company supplements GAAP results with non-GAAP measures to help readers understand financial performance[12](index=12&type=chunk) - Key non-GAAP measures include: adjusted gross margin, adjusted selling, general and administrative (SG&A) expenses, combined segment income, and as-adjusted revenue growth rates[12](index=12&type=chunk) - As-adjusted revenue growth rates remove the impacts of billing days and foreign currency exchange rates to better show underlying operational performance[12](index=12&type=chunk) [Adjusted Gross Margin Reconciliation](index=6&type=section&id=Adjusted%20Gross%20Margin%20Reconciliation) Q2 2024 total adjusted gross margin was **39.4%**, down from **40.6%** in Q2 2023, with Protiviti's adjusted margin at **23.2%** Adjusted Gross Margin Reconciliation - Q2 2024 vs Q2 2023 (As a % of Revenue) | Segment | As Reported Q2 2024 | As Adjusted Q2 2024 | As Reported Q2 2023 | As Adjusted Q2 2023 | | :--- | :--- | :--- | :--- | :--- | | Contract talent solutions | 39.3% | 39.3% | 39.9% | 39.9% | | Permanent placement talent solutions | 99.8% | 99.8% | 99.8% | 99.8% | | Protiviti | 22.5% | 23.2% | 22.9% | 24.0% | | **Total** | **39.2%** | **39.4%** | **40.3%** | **40.6%** | [Adjusted SG&A Expenses Reconciliation](index=7&type=section&id=Adjusted%20SG%26A%20Expenses%20Reconciliation) Q2 2024 adjusted SG&A expenses were **$488.3 million** (**33.2%** of revenue), increasing as a percentage of revenue year-over-year Adjusted SG&A Reconciliation - Q2 2024 vs Q2 2023 (in thousands) | | As Reported Q2 2024 | As Adjusted Q2 2024 | As Reported Q2 2023 | As Adjusted Q2 2023 | | :--- | :--- | :--- | :--- | :--- | | Total talent solutions | $425,171 | $412,668 | $467,588 | $444,565 | | Protiviti | $75,661 | $75,661 | $74,316 | $74,316 | | **Total** | **$500,832** | **$488,329** | **$541,904** | **$518,881** | [Combined Segment Income Reconciliation](index=8&type=section&id=Combined%20Segment%20Income%20Reconciliation) Q2 2024 combined segment income was **$91.6 million** (**6.2%** of revenue), a significant decrease from **$146.6 million** in Q2 2023 Combined Segment Income Reconciliation (in thousands) | Account | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | | :--- | :--- | :--- | | Income before income taxes | $96,462 | $151,211 | | Interest income, net | ($5,186) | ($5,320) | | Amortization of intangible assets | $304 | $721 | | **Combined segment income** | **$91,580** | **$146,612** | [Revenue Growth Rate Reconciliation](index=9&type=section&id=Revenue%20Growth%20Rate%20Reconciliation) Q2 2024 total revenue declined **10.1%** adjusted year-over-year, with significant declines in talent solutions and near-flat Protiviti performance Q2 2024 Year-Over-Year Revenue Growth (%) | Segment | As Reported | As Adjusted | | :--- | :--- | :--- | | Total talent solutions | -14.2% | -14.0% | | Protiviti | -0.9% | -0.9% | | **Total** | **-10.2%** | **-10.1%** | [Global Revenue Growth](index=10&type=section&id=Global%20Revenue%20Growth) Globally, all talent solutions sub-segments experienced double-digit adjusted revenue declines in Q2 2024, while Protiviti's decline was minimal Global Year-Over-Year Revenue Growth (%) - Q2 2024 | Segment | As Reported | As Adjusted | | :--- | :--- | :--- | | Finance and accounting | -13.6% | -13.5% | | Administrative and customer support | -9.8% | -9.8% | | Technology | -13.1% | -13.1% | | Total contract talent solutions | -14.5% | -14.4% | | Permanent placement talent solutions | -12.2% | -12.0% | | Protiviti | -0.9% | -0.9% | [U.S. Revenue Growth](index=11&type=section&id=U.S.%20Revenue%20Growth) In the U.S., talent solutions saw a **15.3%** adjusted revenue drop in Q2 2024, while U.S. Protiviti showed positive adjusted growth of **3.1%** U.S. Year-Over-Year Revenue Growth (%) - Q2 2024 | Segment | As Reported | As Adjusted | | :--- | :--- | :--- | | Total talent solutions | -15.2% | -15.3% | | Protiviti | 3.3% | 3.1% | | **Total U.S.** | **-9.6%** | **-9.7%** | [International Revenue Growth](index=12&type=section&id=International%20Revenue%20Growth) International operations faced significant headwinds in Q2 2024, with both talent solutions and Protiviti segments posting double-digit adjusted revenue declines International Year-Over-Year Revenue Growth (%) - Q2 2024 | Segment | As Reported | As Adjusted | | :--- | :--- | :--- | | Total talent solutions | -10.7% | -10.0% | | Protiviti | -16.2% | -15.9% | | **Total International** | **-12.2%** | **-11.6%** | [Risk Factors](index=2&type=section&id=Risk%20Factors) [Forward-Looking Statements and Risks](index=2&type=section&id=Forward-Looking%20Statements%20and%20Risks) The report contains forward-looking statements subject to risks including global economic conditions, AI adoption, competition, and cybersecurity breaches - The company's performance is subject to various risks and uncertainties that could cause actual results to differ materially from expectations[3](index=3&type=chunk)[7](index=7&type=chunk) - Key risks include: - The global financial and economic situation and unemployment levels - The development and adoption of Artificial Intelligence (AI) - Entry of new competitors or expansion by existing ones - Ability to attract and retain clients and candidates - Reliance on short-term contracts - Cybersecurity breaches[3](index=3&type=chunk) - For the Protiviti segment, specific risks include retaining employees, attracting clients, and ensuring ongoing demand for consulting and advisory services[3](index=3&type=chunk)

Core Viewpoint - Robert Half International Inc. (RHI) is expected to report a decline in revenues and earnings for the second quarter of 2024, with significant year-over-year decreases anticipated across various segments [1][2][3]. Revenue Expectations - Total revenues for RHI are projected at $1.5 billion, reflecting an 8.7% year-over-year decline [8]. - Talent Solutions revenues are expected to be $1 billion, indicating a 12.2% decrease year-over-year [2]. - Contract Talent Solutions is estimated at $879.2 million, showing a substantial increase of 58.7% from the previous year [2]. - Permanent Placement Talent Solutions revenues are anticipated to be $129.8 million, which represents a 13.1% decrease year-over-year [2]. - Revenues from Protiviti are estimated at $487.9 million, suggesting a slight decline from the year-ago quarter [9]. Earnings Expectations - The consensus estimate for RHI's earnings is set at 71 cents per share, indicating a 29% decline from the same quarter last year [3]. - RHI has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold), suggesting limited potential for an earnings beat this quarter [13]. Historical Performance - RHI has surpassed the Zacks Consensus Estimate in three of the past four quarters, with an average surprise of 1% [7].

MENLO PARK, Calif., July 19, 2024 /PRNewswire/ -- Global talent solutions and business consulting firm Robert Half (NYSE: RHI) has achieved a top score of 100 on the 2024 Disability Equality Index®, earning the distinction of being a 2024 Best Place to Work for Disability Inclusion. Robert Half's consulting subsidiary, Protiviti, is also among the honorees with a top score. As a global organization, Robert Half embraces diverse backgrounds, perspectives and experiences and promotes inclusion through a varie ...

Global talent solutions and business consulting firm recognized for being a millennial-friendly workplace. To determine the companies for this prestigious list, Great Place To Work®analyzed survey responses from nearly 510,000 millennial professionals employed at Great Place To Work Certified™ companies. Respondents answered more than 60 questions designed to reflect a comprehensive picture of the workplace experience. The survey also assessed each organization's ability to offer a positive outcome for mill ...

MENLO PARK, Calif., July 17, 2024 /PRNewswire/ -- Robert Half Inc. (NYSE: RHI) today announced it expects to release second-quarter 2024 earnings results on Wednesday, July 24, 2024, at approximately 4:05 p.m. EDT. Robert Half management will conduct a conference call at 5 p.m. EDT on July 24, following the release. The dial-in number is 888-394-8218 (+1-323-994-2093 outside the United States and Canada). It is recommended that participants dial in 15 minutes before the call begins. The confirmation code to ...

"At Protiviti, we are intentional about fostering an empowering, people-centric workplace culture that reflects the communities we serve and where every member of our team feels valued and respected," said Protiviti President and CEO Joseph Tarantino. "This recognition speaks directly to our value of inclusion, which pushes us to continue to raise the bar when it comes to meeting the needs of our diverse workforce." To learn more about Protiviti's focus on workplace culture, visit its Diversity, Equity & In ...

TIME's list, developed in partnership with Statista, highlights the top-performing midsize companies that are leading the way for American business. Robert Half's inclusion underscores its commitment to fostering a positive work environment, driving sustainable growth, and being a responsible corporate citizen. 1. Employee Satisfaction: Based on survey data from approximately 170,000 U.S. employees from 500 companies over the last three years. Respondents were asked to evaluate image, atmosphere, working co ...

I li t t I i I III] Robert Half Paper Boat Creative Find lebs. 3 candidates with the in-demand skills and experience looking for Search candidate Robert Half Homepage - July 13th, 2024 Undervaluation Argument With the S&P 500, Dow Industrials, and NASDAQ 100 large caps trading at all-time highs this past week, it's getting harder to find real value propositions in the bluechip area of the market. Yet, the mid-cap and small-cap sectors do offer greater opportunities to achieve decent investment performance. ...