Core Insights - The company reported a decline in Talent Solutions revenue, with a 9% year-over-year decrease in the fourth quarter, although sequential trends showed improvement [1][4] - Global enterprise revenues for the fourth quarter were $1.302 billion, reflecting a 6% year-over-year decline, with net income per share at $0.32 compared to $0.53 in the previous year [3][7] - The company anticipates a revenue range of $1.26 billion to $1.36 billion for Q1 2026, indicating a potential 5% adjusted year-over-year decline [5][12] Revenue and Earnings - Talent Solutions revenues were $623 million in the U.S. (down 9%) and $200 million internationally (down 8%) [1][6] - Protiviti's revenues for the fourth quarter were $479 million, with U.S. revenues down 6% and non-U.S. revenues up 9% [7] - The company achieved an operating cash flow of $183 million, marking an 18% increase from the prior year's fourth quarter [2] Margins and Costs - The gross margin for contract Talent Solutions was 39.2%, slightly above the previous year's 39.1% [8] - Protiviti's gross margin declined to 21.9% from 24.9% a year earlier, indicating pressure on profitability [9] - Enterprise SG&A increased to 35.9% of global revenues, up from 34.1% in the previous year [10] Management Commentary - The CEO noted that the company is "very well positioned" to meet clients' talent and consulting needs, with improving sequential revenue trends [3][4] - Management highlighted a supportive macro environment, with indicators such as the NFIB Small Business Optimism Index trending higher [15] - The company expects to return to positive year-over-year revenue growth by Q3 2026 if current trends continue [16] AI and Hiring Trends - The impact of AI on hiring has been minimal so far, but it has increased the complexity of the hiring process [17] - Job openings remain above historical averages, suggesting a pent-up demand for skilled professionals [15] Capital Allocation - The fourth-quarter free cash flow performance supported the dividend payment of $0.59 per share, amounting to a $59 million cash outlay [2][18] - The company benefited from a $20 million tax-related item that positively impacted its financials [18]

Company Overview - Robert Half's 2024 service revenues reached $5.80 billion[6] - The company boasts a 20-year average return on invested capital of 26%[6] - Robert Half has a global presence in 32 countries[5] - The company's full-time internal staff totals 14,700 as of December 31, 2024[6] Revenue Mix & Performance - In Q1 2025, contract talent solutions accounted for 57% of global revenues[20] - Permanent placement talent solutions represented 8% of Q1 2025 global revenues[20] - Protiviti contributed 35% to the company's Q1 2025 global revenues[20] - The United States accounts for 77% of talent solutions revenue mix[17] Financial Strength - The company maintains a strong balance sheet with zero debt[76] - As of March 31, 2025, Robert Half's cash reserves stood at $342 million[76]