Robert Half(RHI)2025-04-23 20:01Financial Performance - For Q1 2025, Robert Half reported net income of 0.17 per share, on revenues of 1.476 billion in Q1 2024[2][3]. - Global enterprise revenues decreased by 8% on a reported basis and 6% on an adjusted basis compared to the previous year, attributed to moderated business confidence amid economic uncertainty[3]. - Service revenues for contract talent solutions totaled 887.1 million in Q1 2024, with finance and accounting services declining from 562.9 million[17]. - Gross margin for Q1 2025 was 562.8 million in Q1 2024, reflecting a decrease in profitability[15]. - Total stockholders' equity decreased to 1.519 billion year-over-year, indicating a decline in the company's net worth[18]. - Cash and cash equivalents fell to 540.9 million in the previous year, highlighting liquidity challenges[18]. - For the three months ended March 31, 2025, total revenue reported was 562,797,000 in the same period of 2024[25]. - The gross margin for total talent solutions was 46.7% in 2025, down from 47.0% in 2024, while Protiviti's gross margin decreased from 20.7% to 18.1%[25]. - Selling, General and Administrative Expenses (SG&A) totaled 521,899,000 in 2024[28]. - Adjusted operating income for total talent solutions was 61,973,000 in 2024, reflecting a decrease of 83.4%[30]. - The company reported an adjusted gross margin of 36.6% for total revenue in 2025, compared to 38.7% in 2024[25]. - Contract talent solutions generated 18,982,000 in 2024, indicating a growth of 9.2%[30]. - The adjusted SG&A expenses for total talent solutions were 413,145,000 in 2024, reflecting a decrease of 3.5%[28]. - Protiviti's operating income decreased to 13,944,000 in 2024, a decline of 10.8%[30]. - The company’s total talent solutions revenue was 475,118,000 in 2024, representing a decrease of 14.0%[25]. - The adjusted operating income margin for total revenue was 1.4% in 2025, compared to 5.7% in 2024, indicating a significant decline in profitability[30]. Market Trends and Challenges - Forward-looking statements indicate potential risks including economic conditions, competition, and regulatory changes that may impact future performance[9][10]. - Total revenue growth for Q4 2023 reported at -14.7%, with an adjusted growth rate of -15.2%[39]. - Finance and accounting segment reported a year-over-year decline of -17.2% in Q4 2023, adjusted to -17.8%[39]. - Technology segment experienced a significant decline of -21.7% in Q4 2023, adjusted to -21.8%[39]. - Permanent placement talent solutions saw a decline of -22.0% in Q4 2023, adjusted to -22.6%[39]. - Protiviti segment reported a year-over-year decline of -7.1% in Q4 2023, adjusted to -7.5%[39]. - Total contract talent solutions reported a decline of -17.2% in Q4 2023, adjusted to -17.7%[39]. - Administrative and customer support segment reported a decline of -18.7% in Q4 2023, adjusted to -19.4%[39]. - The billing days impact on revenue growth rates was minimal, with adjustments ranging from 0.1% to 1.4% across segments[39]. - Currency impact on revenue growth rates varied, with adjustments from -0.9% to 1.0% across segments[39]. - Future outlook indicates continued challenges, with expected declines in various segments for Q1 2024[39]. - In Q4 2023, the year-over-year revenue growth for total talent solutions in the United States was reported at -16.8% as reported and -16.7% as adjusted[41]. - The company anticipates continued challenges in revenue growth, with projections indicating a decline of -10.3% for total talent solutions in the United States by Q1 2025[41]. Company Strategy and Recognition - The company emphasized its strong positioning to capitalize on emerging opportunities despite the uncertain outlook, leveraging its brand, technology, and business model[3]. - Robert Half was recognized as one of America's Most Innovative Companies by Fortune and one of America's Best Large Employers by Forbes in 2025[4]. - The company plans to continue focusing on its dual model of professional staffing and business consulting services to meet client needs[3]. - The overall trend indicates a gradual improvement in the Protiviti segment, contrasting with the declining performance in other talent solutions[41]. - The Protiviti segment in the United States showed a significant recovery with a reported growth of 9.3% in Q3 2024 and 6.6% in Q4 2024[41]. - For international contract talent solutions, the year-over-year revenue growth was -4.4% in Q4 2023, worsening to -20.7% by Q1 2025 as reported[43]. - The permanent placement talent solutions in the international segment reported a decline of -20.6% in Q4 2023, with an adjusted figure of -22.8% in Q1 2024[43]. - The total talent solutions in the international market reported a year-over-year decline of -6.9% in Q4 2023, adjusting to -9.8% in Q1 2025[43]. - The billing days impact on total talent solutions in the United States was minimal, with a maximum positive impact of 1.1 days in Q1 2025[41]. - Currency impacts were noted in the international segment, with a negative impact of -3.2% in Q4 2023 for contract talent solutions[43]. - The adjusted revenue growth for Protiviti in the international segment showed a recovery with a growth of 4.4% in Q1 2025[43].