Robert Half(RHI) Prnewswire·2025-04-23 20:05Core Insights - Robert Half Inc. reported a decline in revenues and net income for the first quarter of 2025 compared to the same period in 2024, with revenues of 17 million, down 73% year-over-year [1][2]. Financial Performance - For Q1 2025, net income was 0.17 per share, compared to 0.61 per share, in Q1 2024 [1][2]. - Total revenues for Q1 2025 were 1.476 billion in Q1 2024, representing an 8% decrease on a reported basis and a 6% decrease on an adjusted basis [2][13]. Operational Insights - The decline in business was attributed to moderated client confidence due to economic uncertainties, which elongated decision cycles and subdued hiring activity [2]. - The company remains optimistic about capitalizing on emerging opportunities through its strong brand, technology, and unique business model that includes both professional staffing and consulting services [2]. Employee Engagement and Recognition - Robert Half has received significant recognition in 2025, including being named one of America's Most Innovative Companies by Fortune and one of America's Best Large Employers by Forbes [3]. - High levels of employee engagement have led to both Robert Half and Protiviti being recognized as two of Fortune's 100 Best Companies to Work For [3]. Service Revenue Breakdown - Service revenues for contract talent solutions were 887.1 million in Q1 2024 [13]. - Permanent placement talent solutions generated 124.8 million in Q1 2024 [13]. - Protiviti's revenues were 464.1 million in Q1 2024 [13]. Selected Balance Sheet Information - As of March 31, 2025, cash and cash equivalents were 540.9 million a year earlier [13]. - Accounts receivable decreased to 861.5 million year-over-year [13]. - Total assets were 2.890 billion in the previous year [13]. Cash Flow Information - Depreciation for Q1 2025 was 13 million in Q1 2024 [13]. - Capital expenditures were 11.8 million in Q1 2024 [13].