Kelly Services, Inc. (NASDAQ:KELYA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Kelly Services, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 2.94% to $0.33 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 0.07% to $1.37 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kelly Services, Inc. reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.26. It beat the average revenue estimate of $1.36 billion.
Quoting Management: “We’re pleased with our second quarter performance in each operating segment, given the uneven and generally subpar global economic growth,” said Camden. “The Americas delivered solid results that were in line with our expectations, considering both our investment strategy and the lower volume we’re experiencing. In EMEA and APAC, we’re proud of our efforts in recalibrating our operations to bring costs in line with revenue in a tough environment. In addition, the growth we are seeing in KellyOCG’s revenue and fees confirms that our solutions are meeting market demand for outsourced talent management programs, and we believe the investments we’re making will support our long-term growth in that segment.”
Key Stats (on next page)…
Revenue increased 3.97% from $1.31 billion in the previous quarter. EPS decreased 2.94% from $0.34 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.45 and has not changed. For the current year, the average estimate is a profit of $1.46, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)