Slide 1: Q3 2024 Financial Results Conference Call
Q3 2024 Financial Results Conference Call Prepared Remarks From: M. Keith Waddell, President and Chief Executive Officer, Robert Half Inc. Michael C. Buckley, Chief Financial Officer, Robert Half Inc. October 22, 2024
Slide 2: Third-Quarter 2024 Financial Results Conference Call Prepared Remarks
Third-Quarter 2024 Financial Results Conference Call Prepared Remarks October 22, 2024 Disclaimer The statements made in the conference call speak only as of the date made, and listeners are cautioned that changes in general economic, business or other conditions or in the business condition, financ
Slide 3: Revenues
Net income per share in the third quarter was $0.64, compared to $0.90 in the third quarter one year ago. Revenues and earnings for the third quarter exceeded our expectations, driven by very strong results from Protiviti, which posted sequential and year-on-year revenue gains. While client budgets
Slide 4: Bill rates, Protiviti results and gross margin
Contract talent solutions bill rates for the third quarter increased 3.2 percent compared to one year ago, adjusted for changes in the mix of revenues by functional specialization, currency and country. This rate for the second quarter was 3.1 percent. Now let’s take a closer look at results for Pro
Slide 5: Segment income, tax rate and accounts receivable
Combined segment margin was 6.2 percent. Third-quarter segment income from our talent solutions divisions was $38 million, with a segment margin of 4.0 percent. Segment income for Protiviti in the third quarter was $52 million, with a segment margin of 10.2 percent. Income from investments held in e
Slide 6: Guidance
The major financial assumptions underlying the midpoint of these estimates are as follows: Revenue growth, year-over-year, as adjusted: Talent solutions: Down 9% to 13% Protiviti: Up 3% to 6% Overall: Down 4% to 8% Gross margin percentage: Contract talent: 38% to 40% Protiviti (as adjusted for the d
Slide 7: Market outlook and labor conditions
supply has eased somewhat, the unemployment rate in the United States for those with a college degree is still only 2.3 percent, with rates for many in-demand accounting, finance and IT positions even lower. With lower inflation and widespread expectations of further rate cuts, the NFIB’s Small Busi
Slide 8: Q&A Session
Now, Mike and I would be happy to answer your questions. Please ask just one question and a single follow-up, as needed. If there’s time, we’ll come back to you for additional questions. Q&A Session M. Keith Waddell, President and Chief Executive Officer, Robert Half: Thank you for joining us today.