Kelly Svcs Inc Stock Price, News & Analysis

Kelly, a global specialty talent solutions provider, has announced its third-quarter 2024 earnings release and conference call schedule. The company will release earnings before market opening on Thursday, November 7, 2024, accompanied by a financial presentation on their Investor Relations webpage.

A conference call will be held at 9 a.m. ET the same day, accessible via kellyservices.com or by phone using access code 5728672. A recording will be available after 1:30 p.m. ET using access code 9480328#, accessible through both the website and phone numbers (866) 207-1041 (toll-free) or (402) 970-0847 (caller-paid).

Kelly Education and Elevate K-12 have announced a strategic partnership to address the teacher vacancy crisis in U.S. schools. This collaboration combines Kelly Education's network of classroom coaches with Elevate K-12's virtual teaching platform and certified teacher pool. The partnership aims to provide school districts with a seamless staffing solution that integrates LIVE virtual instruction with on-ground support, ensuring effective education without compromising quality.

Kelly Education, serving over 10,000 school partners, and Elevate K-12, having taught more than 350,000 students, will work together to offer a holistic educational experience. This initiative addresses the challenges of unfilled positions and expanding class sizes, providing schools with additional resources to maintain the continuity of learning.

Kelly has been recognized as a Leader in Everest Group's 2024 US Contingent Staffing PEAK Matrix® assessments for both business and professional as well as industrial staffing. The company received the highest marks for vision and capability among business and professional workforce providers. Kelly's leadership position is attributed to its:

• Diverse industry portfolio
• Statement-of-work-driven approach
• Expertise in contact center outsourcing through KellyConnect®
• Focus on resilient industrial segments
• Upskilling solutions
• Investments in technology, including the Kelly Now® digital staffing platform

Kelly's innovative solutions, such as Skilled Professional Solutions (SPS) and KellyConnect, offer clients flexible staffing options and provide enhanced benefits to workers. The company's recognition highlights its commitment to connecting job seekers with clients through creative staffing solutions.

Kelly Engineering® has been named a Leader and Star Performer on Everest Group's 2024 PEAK Matrix® Assessment for US Engineering Contingent Talent and Strategic Solutions, marking its third consecutive year as a Leader in the engineering category. Kelly earned the highest marks for vision and capability among evaluated providers.

The assessment is based on market impact, vision, and capability across seven categories. Kelly Engineering's success is attributed to its ability to cater to diverse industries, source in-demand engineering talent, and expand offerings in engineering managed services. The company specializes in recruiting expert engineering talent in industries such as semi-conductors, industrial automation, automotive, and medical devices, providing a full range of services from statementworX™ SOW solutions to direct hire.

Kelly (Nasdaq: KELYA, KELYB) has announced a significant leadership change. Troy R. Anderson will become the new executive vice president and chief financial officer designate, effective October 14, 2024. He will succeed Olivier Thirot, who announced his retirement on July 8, 2024. Anderson brings over 30 years of experience in finance and accounting, most recently serving as CFO at Universal Technical Institute, Inc.

Kelly's CEO, Peter Quigley, expressed confidence in Anderson's ability to align with the company's goals and accelerate growth. The transition is part of Kelly's strategy to enhance its position as a global specialty talent solutions provider and drive long-term value creation. Thirot will remain as a strategic advisor to ensure a smooth transition.

KellyOCG, part of Kelly (Nasdaq: KELYA, KELYB), has partnered with Brightfield to integrate TDX AI into its Kelly Helix technology platform. This integration provides clients with real-time contingent labor insights and access to Brightfield's AI-powered market intelligence platform. Key features include:

- In-depth extended workforce economics benchmarks
- Automated statement of work (SOW) analysis
- Improved rate card management
- On-demand data and job title recommendations
- SOW market rate comparisons

The partnership aims to enhance decision-making for procurement and HR teams, potentially saving companies 10-20% in vendor costs. Kelly Helix's advanced technology stack now offers real-time, customized data for better management of external workforces, including access to KellyOCG's Human Cloud solution for freelance talent management.

Kelly (Nasdaq: KELYA, KELYB) reported Q2 2024 earnings with operating earnings of $12.2 million, up from $6.2 million in Q2 2023. Adjusted earnings rose to $28.1 million, a 95% increase. Revenue decreased 13.1% to $1.06 billion, primarily due to the sale of European staffing operations. However, organic revenue grew 0.6%. The adjusted EBITDA margin improved by 170 basis points to 3.7%, driven by reduced operating expenses from business transformation initiatives. The acquisition of Motion Recruitment Partners (MRP) in May 2024 is expected to further expand EBITDA margins. Adjusted EPS increased significantly to $0.71 from $0.36 in Q2 2023. Kelly declared a dividend of $0.075 per share, payable on September 4, 2024.

Kelly Education has been approved by the Missouri Department of Elementary and Secondary Education (DESE) to provide substitute teacher training. This designation allows Kelly Education to offer a 20-hour comprehensive curriculum for individuals aspiring to become substitute teachers in Missouri. The program aims to address teacher shortages and support schools with qualified substitute educators.

Key points:

• Kelly Education is one of only three approved vendors in Missouri
• The training is offered at a reduced cost of $99.99
• Curriculum covers essential areas such as instructional strategies and managing student behavior
• Applicants have 90 days to complete the training once started
• Background checks are required for new certificates or new hires

Kelly (Nasdaq: KELYA, KELYB), a leading global specialty talent solutions provider, has announced its participation in the Sidoti Virtual Investor Conference on Wednesday, August 14, 2024. Key executives, including Peter Quigley (president and CEO), Olivier Thirot (EVP and CFO), and Scott Thomas (head of investor relations), will engage in one-on-one meetings during the event.

The company has made its investor presentation available on its official website, allowing interested parties to access important information about Kelly's financial performance and strategic direction. This participation in the Sidoti conference provides an opportunity for Kelly to showcase its position in the talent solutions market and engage with potential investors.