Slide 1: Q4 2023 Financial Results Conference Call
Q4 2023 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. January 30, 2024 Robert Half Q4 2023 Financial Results Conference Call, Prepared Remarks, January 3
Slide 2: Disclaimer and Introduction
Fourth-Quarter 2023 Financial Results Conference Call, Prepared Remarks January 30, 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, fina
Slide 3: Fourth-quarter results and CFO remarks
We delivered above-consensus top- and bottom-line results for the fourth quarter, with Protiviti leading the way. Global labor demand continues to be resilient, and talent shortages persist, although both are modestly below their peaks. Ongoing economic uncertainty continues to impact client and can
Slide 4: Currency effects and Protiviti results
Currency exchange rate fluctuations during the fourth quarter had the effect of increasing reported year-over-year total revenues by $11 million — $8 million for talent solutions and $3 million for Protiviti. Contract talent solutions bill rates for the fourth quarter increased 3.7 percent compared
Slide 5: Protiviti SG&A, segment income, tax rate and receivables
Fourth-quarter SG&A costs for Protiviti were 14.5 percent of Protiviti revenues, compared to 13.6 percent of revenues last year. Segment Income Operating income for the quarter was $67 million. Adjusted for deferred compensation- related classification impacts, combined segment income was $114 milli
Slide 6: Guidance Assumptions
Guidance Assumptions Midpoint revenues of $1.490 billion are 13 percent lower than the same period in 2023 on an as adjusted basis. The major financial assumptions underlying the midpoint of these estimates are as follows: Revenue growth, year-over-year, as adjusted: Talent solutions: Down 14% to 19
Slide 7: CEO closing remarks on demand and outlook
Now I’ll turn the call back over to Keith. M. Keith Waddell, President and CEO, Robert Half: Thank you, Mike. While job-opening demand continues to be above historical levels and candidate supply remains tight, the velocity of hiring remains impacted and there is less churn in the labor force. The G
Slide 8: Closing remarks and Q&A Session
We begin the new year energized by our time-tested corporate purpose — to connect people to meaningful and exciting work and provide clients with the talent and consulting expertise they need to confidently compete and grow. We’d also like to thank our people across the globe, whose commitment to su