Kelly Svcs Inc - KELYA STOCK NEWS

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.

Kelly has been named of the Year by the National Minority Supplier Development Council (NMSDC) in the category of companies with up to $10 billion in annual revenue. The recognition highlights Kelly's leadership in supplier and business diversity. Through its Supplier Diversity, Equity & Inclusion program, Kelly provides resources, mentorship, and networking opportunities to minority-owned and women-owned businesses. In 2023, the company achieved a 4% year-over-year revenue increase for its diverse suppliers and contributed to creating over 25,000 jobs through diverse suppliers.

Kelly has earned the 2025 Military Friendly® Employer and Military Friendly® Spouse Employer designations, marking its 10th year of recognition. The company achieved Gold category status among over 1,200 participating organizations. Through its Veteran Affinity Group, Kelly has hired more than 7,400 veterans in 2024 alone. The company partners with military bases, workforce centers, and organizations like Private Public Partnership and Hiring Our Heroes to connect service members with employment opportunities.

The evaluation process included public data sources and proprietary survey responses, with final ratings determined by combining survey scores and assessments of recruitment, retention, turnover, and advancement of military personnel.

Kelly (KELYA) reported Q3 2024 revenue of $1.04 billion, down 7.1% year-over-year, primarily due to the sale of European staffing operations. Excluding this sale and the MRP acquisition, organic revenue declined 0.2%. Q3 operating earnings were $2.6 million, with adjusted earnings at $11.7 million, down 24.5%. The company reported earnings per share of $0.02, compared to $0.18 in Q3 2023, with adjusted EPS at $0.21 versus $0.50. Education segment showed double-digit growth, while MSP and RPO revenue remained stable. The board declared a dividend of $0.075 per share, payable December 4, 2024.

Kelly, a global specialty talent solutions provider, has announced its third-quarter 2024 earnings release and conference call schedule. The company will release earnings before market opening on Thursday, November 7, 2024, accompanied by a financial presentation on their Investor Relations webpage.

A conference call will be held at 9 a.m. ET the same day, accessible via kellyservices.com or by phone using access code 5728672. A recording will be available after 1:30 p.m. ET using access code 9480328#, accessible through both the website and phone numbers (866) 207-1041 (toll-free) or (402) 970-0847 (caller-paid).

Kelly Education and Elevate K-12 have announced a strategic partnership to address the teacher vacancy crisis in U.S. schools. This collaboration combines Kelly Education's network of classroom coaches with Elevate K-12's virtual teaching platform and certified teacher pool. The partnership aims to provide school districts with a seamless staffing solution that integrates LIVE virtual instruction with on-ground support, ensuring effective education without compromising quality.

Kelly Education, serving over 10,000 school partners, and Elevate K-12, having taught more than 350,000 students, will work together to offer a holistic educational experience. This initiative addresses the challenges of unfilled positions and expanding class sizes, providing schools with additional resources to maintain the continuity of learning.