Slide 1: Q4 2024 Financial Results Conference Call
Q4 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. January 29, 2025 1
Slide 2: Disclaimer
Fourth-Quarter 2024 Financial Results Conference Call Prepared Remarks January 29, 2025 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, finan
Slide 3: Fourth-quarter 2024 enterprise results, cash flow and dividends
For your convenience, our prepared remarks for today’s call are available in the Investor Center of our website, roberthalf.com. For the fourth quarter of 2024, global enterprise revenues were $1.382 billion, down 6 percent from last year’s fourth quarter on an as reported basis, and down 7 percent
Slide 4: Talent solutions revenues and billing days
On an as adjusted basis, fourth-quarter talent solutions revenues were down 12 percent year over year. U.S. talent solutions revenues were $686 million, down 11 percent from the prior year’s fourth quarter. Non-U.S. talent solutions revenues were $208 million, down 14 percent year over year. We cond
Slide 5: Gross margin and SG&A costs
When combined with contract talent solutions gross margin, overall gross margin for talent solutions was 46.4 percent, compared to 46.9 percent of applicable revenues in the fourth quarter one year ago. For Protiviti, gross margin was 24.9 percent of Protiviti revenues, compared to 23.9 percent of P
Slide 6: Deferred compensation income, tax rate, receivables and guidance
Income from investments held in employee deferred compensation trusts Our fourth-quarter 2024 income statement includes $6 million as income from investments held in employee deferred compensation trusts. This is completely offset by an equal amount of additional employee deferred compensation costs
Slide 7: Guidance Assumptions
Guidance Assumptions Midpoint revenues of $1.40 billion are 3 percent lower than the same period in 2024 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 7% to 10% P
Slide 8: Protiviti outlook and labor market commentary
the 4-7 point decline experienced in most of the last 10 years. On a year-over- year basis, at the midpoint, Protiviti’s first-quarter revenues and earnings are expected to grow by 9 percent and 20 percent, respectively. All estimates we provide on this call are subject to the risks mentioned in tod
Slide 9: Q&A Session
enterprise-wide competitive advantage. Protiviti’s prospects and pipeline remain very strong, and we expect continued year-on-year revenue growth in the first quarter. Protiviti was recently recognized on Glassdoor’s Best Places to Work list for a second consecutive year and honored by Seramount as
Slide 10: Conference call replay details
roberthalf.com. You also can dial the conference call replay. Dial-in details and the confirmation code are contained in the Company’s press release issued earlier today. Robert Half Q4 2024 Financial Results Conference Call, Prepared Remarks, January 29, 2025 10 © 2025 Robert Half Inc. An Equal Opp