Slide 1: Q2 2024 Financial Results Conference Call
Q2 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. July 24, 2024 Robert Half Q2 2024 Financial Results Conference Call, Prepared Remarks, July 24, 202
Slide 2: Second-Quarter 2024 Financial Results Conference Call, Prepared Remarks
Second-Quarter 2024 Financial Results Conference Call, Prepared Remarks July 24, 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, financi
Slide 3: CEO remarks and CFO revenues review
Net income per share in the second quarter was $0.66, compared to $1.00 in the second quarter one year ago. Client and candidate caution continues to impact hiring activity and new project starts as macroeconomic and interest rate uncertainty persist. Second-quarter revenues and earnings were within
Slide 4: Protiviti results and gross margin
Now let’s take a closer look at results for Protiviti. Global revenues in the second quarter were $487 million: $399 million of that is from the United States, and $88 million is from outside the United States. On an as adjusted basis, global second-quarter Protiviti revenues were down 1 percent ver
Slide 5: Protiviti segment income, tax rate and guidance
Segment income for Protiviti in the second quarter was $37 million, with a segment margin of 7.7 percent. Income from investments held in employee deferred compensation trusts Our second-quarter 2024 income statement includes $16 million as income from investments held in employee deferred compensat
Slide 6: Third-quarter guidance assumptions
The major financial assumptions underlying the midpoint of these estimates are as follows: Revenue growth, year-over-year, as adjusted: Talent solutions: Down 12% to 16% Protiviti: Down 1% to up 2% Overall: Down 7% to 11% Gross margin percentage: Contract talent: 38% to 41% Protiviti (as adjusted fo
Slide 7: Market outlook and demand commentary
Client budgets remain constrained, and candidates are reluctant to change jobs. This subdues short-term demand and elongates sales cycles. However, job openings are well above historical highs and indicative of pent-up future demand. As business confidence improves, hiring urgency returns, project d
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: That was our last question. Tha