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Kelly Services, Inc. - KELYA STOCK NEWS

Welcome to our dedicated page for Kelly Services news (Ticker: KELYA), a resource for investors and traders seeking the latest updates and insights on Kelly Services stock.

Kelly Services Inc, founded in 1946, is a global specialty talent solutions provider with a focus on investing in people. Offering workforce solutions, consulting, and staffing services worldwide, Kelly operates in five business segments, including Professional & Industrial, Science, Engineering & Technology, Education, Outsourcing & Consulting, and International. With recent acquisitions like Motion Recruitment Partners, Kelly continues to expand its market-leading solutions portfolio, enhancing revenue growth potential and accelerating EBITDA margin expansion. The company's strategic focus on specialty outcome-based services and global RPO and MSP solutions underscores its commitment to delivering tailored staffing solutions to meet evolving workforce challenges.

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Kelly, a global specialty talent solutions provider, has announced its second-quarter 2024 earnings release and conference call schedule. The company will release its earnings before the market opens on Thursday, August 8, 2024. Kelly will also publish a financial presentation on its Investor Relations webpage.

The conference call is set for 9 a.m. ET on the same day. Investors can access the call via the internet at kellyservices.com or by phone using the toll-free number (877) 692-8955 or caller-paid number (234) 720-6979, with access code 5728672.

A recording of the call will be available after 1:30 p.m. ET on August 8, 2024, accessible by phone or on the company's website.

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Kelly (Nasdaq: KELYA, KELYB) has finalized the sale of Ayers Group, a division of KellyOCG, to Keystone Partners. Ayers Group specializes in outplacement, executive coaching, and leadership development. The financial terms of the transaction were not disclosed. This sale is part of KellyOCG’s strategy to focus on global recruitment process outsourcing (RPO) and managed service provider (MSP) solutions. The move aligns with Kelly's broader goal to optimize its operations and reallocate capital towards higher-margin, growth-oriented specialties. Recent strategic actions by Kelly include divesting European staffing operations, monetizing non-core assets, and reducing ownership in PersolKelly.

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Keystone Partners announced the acquisition of The Ayers Group from Kelly Services on June 12, 2024. This strategic move aims to enhance Keystone's offerings in career management and leadership transformation within the New York metropolitan area. Founded in 1975, The Ayers Group is recognized for its expertise in executive coaching and organizational development. The integration of Ayers' experienced team and strong client relationships is expected to bolster Keystone's capabilities. Tim Baldwin, CEO of Keystone Partners, emphasized the synergy between the companies' values and missions. Larry Fisher of The Ayers Group also expressed enthusiasm for the merger's potential benefits for clients.

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The 2024 Kelly Global Re:work Report reveals that poor workforce planning is hindering business growth, with 54% of executives identifying it as a primary issue. Despite turning to AI and automation, many organizations struggle to implement these technologies effectively and neglect proper employee training. The report shows 47% of executives miss business opportunities due to a lack of talent, and 42% fail to unlock their workforce's full potential. Employees cite a lack of skills development and career progression as main frustrations, with women and minority groups notably disadvantaged. While 64% of organizations invest in AI to boost productivity, only 36% of employees feel positive about it. The survey introduces the Workforce Resilience Index, highlighting Resilience Leaders who excel in revenue, profitability, customer satisfaction, recruitment, and retention, with Norway, Sweden, and Germany leading the way.

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Kelly has completed its acquisition of Motion Recruitment Partners (MRP), a move expected to boost EBITDA margins. MRP will continue operating under its existing brands. The acquisition aims to enhance Kelly's staffing and consulting solutions in technology, telecommunications, and government sectors in North America, as well as its global RPO solutions. The purchase price was $425 million, with an additional $60 million contingent on certain performance criteria by March 2025. A webcast detailing the acquisition will be held on June 18, 2024.

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Kelly reported Q1 2024 revenue of $1.05 billion, a 17.6% decrease due to sale of European staffing operations. Operating earnings were $26.8 million, up 34% on an adjusted basis. Adjusted EBITDA margin increased to 3.2%. Expect further margin expansion from acquiring MRP in Q2 2024. EPS improved to $0.70 from $0.29 in Q1 2023. Declared dividend of $0.075 per share.

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Kelly (Nasdaq: KELYA, KELYB) will be participating in the 18th Annual Barrington Research Virtual Spring Investment Conference on May 16, 2024. The company's key executives will engage in one-on-one meetings, and their investor presentation is accessible on their website.

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Kelly (Nasdaq: KELYA, KELYB) has entered into an agreement to acquire Motion Recruitment Partners, for $425 million in cash plus $60 million earnout potential. This transformational acquisition aims to enhance Kelly's staffing and consulting solutions, especially in technology, telecommunications, government specialties, and recruitment process outsourcing (RPO) globally. The deal is expected to close in the second quarter of 2024, subject to regulatory approvals.

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KellyOCG has partnered with Upwork Enterprise to offer clients access to global independent talent pools through Helix UX. This strategic partnership allows KellyOCG clients to source, hire, and collaborate with skilled professionals on Upwork through Kelly's Human Cloud solution.

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Kelly, a global specialty talent solutions provider, will release its first-quarter 2024 earnings on May 9, 2024. The company will host a conference call at 9 a.m. ET and provide a financial presentation on its website. Investors can access the call and recording through various channels.
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FAQ

When was Kelly Services Inc founded?

Kelly Services Inc was founded in 1946.

What are the key business segments of Kelly Services Inc?

Kelly operates in five business segments including Professional & Industrial, Science, Engineering & Technology, Education, Outsourcing & Consulting, and International.

What recent acquisitions has Kelly Services Inc made?

Kelly Services Inc recently acquired Motion Recruitment Partners, LLC.

What is the strategic focus of Kelly Services Inc?

Kelly Services Inc is focused on specialty outcome-based services and global RPO and MSP solutions to address evolving workforce challenges.

Kelly Services, Inc.

Nasdaq:KELYA

KELYA Rankings

KELYA Stock Data

803.86M
31.97M
3.22%
93.3%
2.08%
Human Resources Consulting Services
Professional, Scientific, and Technical Services
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United States of America
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