Kelly Services ( (KELYA) ) has released its Q4 earnings. Here is a breakdown of the information Kelly Services presented to its investors.
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Kelly Services, Inc. is a prominent player in the staffing industry, specializing in connecting skilled workers with companies across various sectors including science, engineering, technology, and more. Headquartered in Troy, Michigan, the company operates globally, serving over 400,000 people annually.
In its latest financial report for the fourth quarter and full year of 2024, Kelly Services announced a slight decrease in revenue compared to the previous year, primarily due to the sale of its European staffing operations. However, on an organic basis, the company reported growth, reflecting its strategic focus on higher-margin markets.
Key financial highlights from the report include a fourth-quarter revenue of $1.2 billion and a full-year revenue of $4.3 billion. Although the company faced an operating loss due to non-cash impairment charges, it achieved significant growth in adjusted earnings and EBITDA, with a 34% increase in fourth-quarter adjusted EBITDA compared to the prior year.
Looking ahead, Kelly Services is optimistic about fiscal 2025, expecting incremental organic revenue growth and an expansion in adjusted EBITDA margins. Additionally, the company announced the upcoming retirement of its CEO, Peter Quigley, signaling a forthcoming leadership transition as it continues its strategic growth journey.
Overall, Kelly Services enters 2025 with a streamlined and focused operational model, poised to capitalize on improving market demands and deliver sustained growth in its core business areas.
