Robert Half Full Year 2024 Earnings: In Line With Expectations

Robert Half (NYSE:RHI) Full Year 2024 Results

Key Financial Results

• Revenue: US$5.80b (down 9.3% from FY 2023).
• Net income: US$251.6m (down 39% from FY 2023).
• Profit margin: 4.3% (down from 6.4% in FY 2023). The decrease in margin was driven by lower revenue.
• EPS: US$2.45 (down from US$3.90 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Robert Half Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

The primary driver behind last 12 months revenue was the Contract Talent Solutions segment contributing a total revenue of US$3.83b (66% of total revenue). Notably, cost of sales worth US$3.55b amounted to 61% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$2.00b (100% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$10.1m. Explore how RHI's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Professional Services industry in the US.

Performance of the American Professional Services industry.

The company's shares are down 8.4% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Robert Half that you should be aware of.

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