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Kelly Services, Inc., also known as Kelly, is a global specialty talent solutions provider offering workforce solutions and consulting services. With operations in various sectors like financial services, IT, law, and more, the company is divided into five segments, including Professional & Industrial, Science, Engineering & Technology, Education, Outsourcing & Consulting, and International. Kelly recently acquired Motion Recruitment Partners, LLC, expanding its market-leading solutions portfolio and enhancing its focus on higher-margin, higher-growth specialty outcome-based and staffing services. The acquisition is part of Kelly's strategy to pursue inorganic investments, unlock significant capital, and optimize its operating model, aligning with its goal to provide top-quality talent solutions.
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%.
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 (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.
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