Slide 1: Q2 2023 Conference Call
Q2 2023 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. July 25, 2023
Slide 2: Second-Quarter 2023 Financial Results Conference Call, Prepared Remarks
SECOND-QUARTER 2023 FINANCIAL RESULTS CONFERENCE CALL, PREPARED REMARKS JULY 25, 2023 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, financi
Slide 3: Prepared remarks: second quarter results overview
For your convenience, our prepared remarks for today’s call are available in the Investor Center of our website, roberthalf.com. Second quarter results for talent solutions were impacted by elongated client hiring cycles resulting from ongoing global macro uncertainty. Protiviti was much less impact
Slide 4: Bill rates and Protiviti results
Contract talent solutions bill rates for the quarter increased 6.0 percent compared to one year ago, adjusted for changes in the mix of revenues by functional specialization, currency and country. This rate for the first quarter was 6.9 percent. Now let’s take a closer look at results for Protiviti.
Slide 5: SG&A, segment income and tax rate
return to more normal pre-pandemic levels. Second quarter Protiviti SG&A costs also included $400 thousand of severance costs related to employee headcount reductions. Segment Income Operating income for the quarter was $118 million. This includes severance charges of $8 million or $.05 per share. A
Slide 6: Third-quarter guidance
Revenue growth, year-over-year, as adjusted: Talent solutions: Down 17% to 22% Protiviti: Down 4% to 7% Overall: Down 13% to 18% Gross margin percentage: Contract talent: 39% to 41% Protiviti: 25% to 27% Overall: 39% to 41% SG&A as percent of revenues, excluding deferred compensation classification
Slide 7: Closing remarks: outlook and structural tailwinds
We have weathered many economic cycles in the past, each time emerging to achieve higher peaks. Aging workforce demographics and clients’ desire for flexible resources and variable costs are structural tailwinds that are expected to continue for many years to come. Protiviti’s regulatory risk and co
Slide 8: © 2023 Robert Half Inc. An Equal Opportunity Employer M/F/Disability/Veterans.
© 2023 Robert Half Inc. An Equal Opportunity Employer M/F/Disability/Veterans. Robert Half Q2 2023 Financial Results Conference Call, Prepared Remarks, July 25, 2023 7 © 2023 Robert Half Inc. An Equal Opportunity Employer M/F/Disability/Veterans.