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Robert Half Q3 revenue flat despite improved hiring activity, stronger demand

By Reuters News


Overview

  • US talent solutions provider's Q3 revenue was flat yr/yr and met analyst expectations

  • Q3 adjusted EPS rose to $0.49 from $0.43 a year ago

  • Company saw improved hiring activity and higher demand for risk and compliance consulting


Outlook

  • Robert Half did not provide specific financial guidance for upcoming quarters or full year in its press release


Result Drivers

  • TALENT SOLUTIONS GROWTH - Co said talent solutions segment saw adjusted yr/yr revenue growth for first time since 2022

  • IMPROVED HIRING ACTIVITY - Co said hiring activity improved during the qtr, supported by better market conditions

  • RISK & COMPLIANCE DEMAND - Co said demand for risk and compliance consulting services improved in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Meet

$1.36 bln

$1.36 bln (8 Analysts)

Q3 EPS

$0.49

Q3 Net Income

$49.87 mln

Q3 Pretax Profit

$74.67 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and 4 "sell" or "strong sell"

  • The average consensus recommendation for the employment services peer group is "buy."

  • Wall Street's median 12-month price target for Robert Half Inc is $31.00, about 10.5% below its October 21 closing price of $34.64

  • The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 18 three months ago


Reuters Recommended Reads

  • Oct 21 - US-based Circle8 gets second deadline extension for SThree takeover bid

  • Oct 21 - Randstad soars 20% as key labour markets improve, driving revenue and earnings

  • Oct 20 - Amazon to recruit over 300,000 workers for holiday season in first hiring jump in three years


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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