Kelly Svcs Inc - KELYA STOCK NEWS

Kelly (KELYA) reported Q4 2024 results with revenue of $1.2 billion, down 3.3% year-over-year but up 4.4% on an organic basis. The company posted a Q4 operating loss of $56.7 million due to $80.8 million in non-cash impairment charges, while adjusted EBITDA increased 34% to $43.5 million with a margin of 3.7%.

Full-year 2024 revenue was $4.3 billion, down 10.4% as reported but up 0.5% organically. The company reported a full-year operating loss of $15.1 million due to impairment charges, while adjusted EBITDA grew 31% to $143.5 million with a 3.3% margin.

The company announced CEO Peter Quigley's planned retirement by the end of 2025. For first half 2025, Kelly expects approximately 10% revenue growth due to the Motion Recruitment Partners acquisition, with modest organic growth and adjusted EBITDA margin improvement of 10 basis points to 3.6%.

Robert Abel, Chief of Human Capital for Dallas Independent School District, has been awarded the 2025 Distinguished Service Award by the Council of the Great City Schools, sponsored by Kelly Education. The award recognizes Abel's exceptional contributions to urban education management services.

Since becoming Chief of Human Capital in 2021, Abel has achieved notable improvements, including a 44% reduction in overall grievances and a 90% decrease in complex Level 3 grievances. Under his leadership, Dallas ISD's teacher applicant pool has grown by 14%.

Abel's two decades of educational leadership experience and his commitment to improving student outcomes have been praised by both Willie Burroughs, the Council's director of management services, and Nicola Soares, President of Kelly Education.

Kelly has announced it will release its fourth-quarter and full-year 2024 earnings before market opening on Thursday, February 13, 2025. The global specialty talent solutions provider will accompany this release with a financial presentation and host a conference call with financial analysts at 9 a.m. ET on the same day.

The presentation and live webcast will be available on the company's website's Investor Relations page under Events & Presentations. For those unable to attend the live event, a recording will be accessible within an hour after the webcast's completion through the same link.

Kelly (KELYA) has been recognized on FlexJobs' Top 100 Companies to Watch for Remote Jobs list for the 12th consecutive year, ranking fourth in 2025. The company is among only six employers to maintain this recognition since the list's inception in 2014. The ranking is based on an analysis of approximately 60,000 companies and their remote job posting history throughout 2024.

Kelly introduced its Kelly Anywhere program nine years ago, enabling corporate employees to work from home. The company has been offering at-home call center positions since 2009 through KellyConnect®, currently employing over 3,100 remote agents in its contact center outsourcing business.

Kelly Education, the largest provider of education talent and workforce solutions in the US, has launched a new podcast called 'Wake Up and Teach'. Hosted by Kelly Education President Nicola Soares, the bi-weekly series will feature conversations with education experts and thought leaders, focusing on critical topics such as teacher shortages, workforce planning, and talent retention strategies.

The first season will explore various subjects including the current education workforce landscape, building-level challenges, recruitment approaches, district culture revitalization, and classroom technology. The podcast aims to provide practical solutions and innovative approaches for education leaders nationwide, drawing from real-life success stories that schools can adapt to their specific workforce needs.

Kelly (Nasdaq: KELYA) announced a new share repurchase program of up to $50 million of its Class A common stock, effective through December 2, 2026. CEO Peter Quigley highlighted the company's strategy of monetizing non-core assets, focusing on higher-margin specialties, and achieving EBITDA margin expansion. The repurchases may be executed through open market, private transactions, or other means, including Rule 10b5-1 trading plans. The program will be funded through available cash, working capital, credit facility capacity, or operational cash flows, and can be suspended at any time.

Kelly (KELYA) announced the completion of its CFO transition, with Troy Anderson, who joined in October 2024, succeeding Olivier Thirot effective December 2, 2024. Thirot will continue serving as a strategic advisor after retiring as an officer. Anderson expressed commitment to accelerating growth, expanding EBITDA margins, and creating shareholder value. The company also announced its participation in the Sidoti Virtual Investor Conference on December 4, 2024, where executives will conduct one-on-one meetings.

KellyOCG has secured the top position in HRO Today's 2024 Total Workforce Solutions Baker's Dozen Customer Satisfaction Ratings. The company ranked highest in 'Quality of Service' and 'Size of Deal' categories, demonstrating excellence in managed services provider (MSP) and recruitment process outsourcing (RPO) solutions.

The ranking is based on customer satisfaction surveys from nearly 500 companies. KellyOCG's success is attributed to significant investments in MSP and RPO offerings, their advanced technology platform Helix, and expert team delivery. The company further expanded its global presence through the acquisition of Sevenstep as part of Kelly's purchase of Motion Recruitment Partners.

Kelly (KELYA) has acquired Children's Therapy Center (CTC), a Minnesota-based provider of occupational, physical, and speech therapy for children. CTC will be integrated into Kelly Education's Pediatric Therapy Services (PTS) portfolio, expanding services to Minnesota school districts. The acquisition enhances Kelly's presence in the high-margin therapeutic services segment and offers therapists flexibility to practice in both clinical and school settings. CTC operates from Eagan and Apple Valley, MN, serving children from birth to eighteen years old. The acquisition terms were not disclosed.