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Robert Half(RHI) - 2019 Q2 - Quarterly Report
2019-08-02 19:12
Revenue Performance - Net service revenues for the first half of 2019 were $2.98 billion, a 5% increase from the prior year, with net income rising 9% to $224 million[64]. - The Company's revenues for the three months ended June 30, 2019, were $1.52 billion, up 4.1% from $1.46 billion in the same period of 2018[80]. - Temporary and consultant staffing revenues were $1.10 billion for the three months ended June 30, 2019, increasing by 1.4% compared to the same period in 2018[81]. - Permanent placement staffing revenues increased by 4.3% to $141 million for the three months ended June 30, 2019, compared to $135 million in the same period of 2018[82]. - Risk consulting and internal audit services revenues rose by 16.6% to $273 million for the three months ended June 30, 2019, compared to $234 million in the same period of 2018[83]. - Total revenues for the six months ended June 30, 2019, were $2.98 billion, a 4.6% increase from $2.85 billion in the same period in 2018[96]. - Temporary and consultant staffing revenues were $2.19 billion for the first half of 2019, a 1.5% increase from $2.15 billion in the first half of 2018[97]. - Permanent placement staffing revenues increased by 6.2% to $272 million for the first half of 2019 compared to $256 million in the same period in 2018[99]. - Risk consulting and internal audit services revenues rose by 18.9% to $525 million for the first half of 2019 from $442 million in the first half of 2018[100]. Gross Margin - The gross margin dollars for the three months ended June 30, 2019, were $638 million, a 5% increase from $607 million in the same period of 2018[85]. - Gross margin dollars for temporary and consultant staffing were $421 million for Q2 2019, a 3.1% increase from $408 million in Q2 2018, with a gross margin percentage of 38.2%[86]. - Gross margin dollars for permanent placement staffing were $141 million for Q2 2019, up 4.3% from $135 million in Q2 2018[87]. - Gross margin dollars for risk consulting and internal audit services increased by 19.0% to $76 million in Q2 2019 from $64 million in Q2 2018, with a gross margin percentage of 27.9%[88][89]. - Gross margin dollars were $1.25 billion for the six months ended June 30, 2019, a 5.6% increase from $1.18 billion for the same period in 2018[101]. Operating Income - The company's total operating income was $159 million for Q2 2019, or 10.5% of revenues, compared to $150 million, or 10.3% of revenues, in Q2 2018[94]. - Operating income for the six months ended June 30, 2019, was $306 million, or 10.2% of revenues, up from $284 million, or 10.0% of revenues, for the same period in 2018[110]. Expenses - Selling, general and administrative expenses were $478 million for Q2 2019, a 4.5% increase from $458 million in Q2 2018, representing 31.5% of revenues[90]. - Selling, general and administrative expenses for the temporary and consultant staffing division were $316 million for Q2 2019, up 3.5% from $305 million in Q2 2018[91]. - Selling, general and administrative expenses were $939 million for the six months ended June 30, 2019, a 4.9% increase from $896 million for the same period in 2018[106]. Cash Flow and Capital Expenditures - Cash and cash equivalents were $269 million as of June 30, 2019, down from $309 million in 2018[113]. - Net cash provided by operating activities for the six months ended June 30, 2019, was $248 million, compared to $264 million for the same period in 2018[113]. - Net cash used in financing activities for the six months ended June 30, 2019, was $208 million, compared to $207 million for the same period in 2018[116]. - The Company repurchased 1.8 million shares at a cost of $111 million during the six months ended June 30, 2019[117]. - The Company expects capital expenditures for 2019 to range from $60 million to $70 million, including $35 million to $45 million for software initiatives and technology infrastructure[70]. - Capital expenditures for the six months ended June 30, 2019, totaled $41 million, with approximately 58% allocated to software initiatives and technology infrastructure[70]. Tax and Working Capital - The provision for income taxes was 27.0% for the six months ended June 30, 2019, down from 27.8% for the same period in 2018[111]. - The Company's working capital at June 30, 2019, included $269 million in cash and cash equivalents, expected to support its working capital needs[118]. - The Company expects that internally generated cash will be sufficient to support its working capital needs and other obligations on both a short-term and long-term basis[118]. Market Conditions - The unemployment rate in the U.S. declined from 3.9% in December 2018 to 3.7% at the end of Q2 2019, contributing to a robust labor market[65]. Shareholder Returns - A quarterly dividend of $0.31 per share was announced on August 1, 2019, to be paid on September 16, 2019[120].
Robert Half(RHI) - 2019 Q2 - Earnings Call Transcript
2019-07-23 23:36
Robert Half International Inc. (NYSE:RHI) Q2 2019 Earnings Conference Call July 23, 2019 5:00 PM ET Company Participants Max Messmer - Chairman & Chief Executive Officer Keith Waddell - Vice Chairman, President & Chief Financial Officer Conference Call Participants Mark Marcon - R.W. Baird Michael Cho - JPMorgan Dan Dolev - Nomura Jeff Silber - BMO Capital Markets Kevin McVeigh - Credit Suisse Gary Bisbee - Bank of America Merrill Lynch Timothy McHugh - William Blair Ryan Leonard - Barclays Capital Tobey So ...
Robert Half(RHI) - 2019 Q1 - Quarterly Report
2019-05-06 20:24
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2019 OR ¨ 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 1-10427 ROBERT HALF INTERNATIONAL INC. (Exact name of registrant as specified in its charter) Delaware 94-1648752 (State ...
Robert Half(RHI) - 2019 Q1 - Earnings Call Transcript
2019-04-24 03:18
Robert Half International Inc. (NYSE:RHI) Q1 2019 Earnings Conference Call April 23, 2019 5:00 PM ET Company Participants Max Messmer - Chairman and CEO Keith Waddell - CFO Conference Call Participants Mark Marcon - R.W. Baird Dan Dolev - Nomura Jeff Silber - BMO Capital Markets Andrew Steinerman - JPMorgan Gary Bisbee - Bank of America Merrill Lynch Kevin McVeigh - Credit Suisse Joseph Thompson - SunTrust Tim McHugh - William Blair Ryan Leonard - Barclays Blake Johnson - Goldman Sachs Seth Weber - RBC Capi ...
Robert Half(RHI) - 2018 Q4 - Annual Report
2019-02-15 20:40
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 __________________________________________ Commission file number 1-10427 ROBERT HALF INTERNATIONAL INC. (Exact name of registrant as specified in its charter) DELAWARE 94-1648752 (State or other jurisdict ...
Robert Half(RHI) - 2018 Q4 - Earnings Call Transcript
2019-01-30 02:01
Robert Half International Inc. (NYSE:RHI) Q4 2018 Earnings Conference Call January 29, 2019 5:00 PM ET Company Participants Max Messmer - Chairman & Chief Executive Officer Keith Waddell - Vice Chairman, President & Chief Financial Officer Conference Call Participants Mark Marcon - R.W. Baird & Company Andrew Steinerman - JPMorgan Dan Dolev - Nomura Jeff Silber - BMO Capital Markets Gary Bisbee - Bank of America Merrill Lynch Ryan Leonard - Barclays Kevin McVeigh - Credit Suisse Tobey Sommer - SunTrust Tim ...