Press release
Kelly® Reports Third-Quarter 2021 Earnings and Announces Dividend
Financial Highlights Q3 revenue up 15.1%; 14.5% in constant currencyQ3 operating earnings of $9.0 million; up from a loss a year ago and up 25.9% on an
About this update from Kelly Services, Inc.
[{"type":"text","content":"Financial Highlights Q3 revenue up 15.1%; 14.5% in constant currencyQ3 operating earnings of $9.0 million; up from a loss a year ago and up 25.9% on an adjusted basisQ3 earnings per share of $0.87 up from $0.42 a year ago; adjusted EPS of $0.25 compared to $0.29 TROY, Mich., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Kelly® (Nasdaq: KELYA, KELYB), a leading specialty talent solutions provider, today announced results for the third quarter of 2021. Peter Quigley, president and chief executive officer, announced revenue for the third quarter of 2021 totaled $1.2 billion, a 15.1% increase compared to the corresponding quarter of 2020. Revenue improved year-over-year in the quarter reflecting increased customer demand compared to the COVID-19-impacted prior year period. Earnings from operations in the third quarter of 2021 totaled $9.0 million, compared to a loss of $2.4 million reported in the third quarter of 2020. Included in the third quarter of 2020 was a $9.5 million charge related to a customer dispute in Mexico. On an adjusted basis, earnings from operations improved 25.9%. Diluted earnings per share in the third quarter of 2021 were $0.87 compared to $0.42 per share in the third quarter of 2020. Included in the earnings per share is a non-cash gain per share, net of tax, on Kelly’s investment in Persol Holdings common stock of $0.62 in the third quarter of 2021 and $0.29 in the third quarter of 2020. On an adjusted basis, earnings per share were $0.25 in the third quarter of 2021 compared to $0.29 in the corresponding quarter of 2020. “We’re pleased that all five of our specialty operating segments delivered organic year-over-year gains in the third quarter, contributing to solid revenue and GP dollar growth for the company,” said Quigley, who noted that Kelly has already begun taking actions to better leverage top-line growth heading into 2022. “Demand for our solutions is strong, and we’re finding innovative ways to connect talent and clients in a tight labor market. We’re confident that Kelly’s specialty strategy will continue to deliver top and bottom-line growth throughout the recovery and into the post-COVID environment.” Kelly also reported that on November 10, its board of directors declared a dividend of $0.05 per share. The dividend is payable on December 8, 2021, to stockholders of record as of the close of business on No...