Every 8-K that Kelly Services Inc (KELYA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow KELYA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full KELYA filings page.
Kelly Services reported weaker Q2 2026 results while seeing underlying demand stabilize. Revenue was $1,038.2 million, down 5.8% year over year, with discrete impacts from reduced U.S. federal government and three large commercial customers totaling approximately 5.2%, leaving an underlying decline of about 0.6%. Operating earnings were $16.1 million and net earnings $11.4 million, with diluted EPS declining to $0.31 from $0.52. Adjusted EBITDA was $31.1 million with a 3.0% margin, 40 basis points below a year earlier.
For the first 26 weeks of 2026, revenue fell 8.3% to $2,078.9 million and diluted EPS dropped to $0.15 from $0.67; adjusted EBITDA decreased to $46.9 million with a 2.3% margin. Year‑to‑date free cash flow was $21.2 million versus $114.8 million a year ago, debt‑to‑capital was 7.4%, and working capital $429.9 million. The board declared a quarterly dividend of $0.075 per share. Management raised its 2026 revenue outlook to a low‑to‑mid single‑digit decline and still targets 10 to 20 basis points of adjusted EBITDA margin improvement, with Q4 2026 expected to show mid‑to‑upper single‑digit revenue growth and adjusted EBITDA margin around 4%.
Kelly Services, Inc. reported results of its May 7, 2026 annual meeting, where stockholders approved several corporate governance changes and routine annual items. Stockholders adopted an amendment to the Amended and Restated Certificate of Incorporation to permit stockholder action by written consent, broaden who may call special meetings to include the Board chair and holders of at least a majority of the voting power of Class B common stock, and allow stockholders to fill board vacancies or newly created directorships as permitted by Delaware law. The amended certificate became effective upon filing in Delaware on May 13, 2026, and conforming bylaw amendments took effect on May 7, 2026. All director nominees were elected, the advisory vote approved the Company’s executive compensation, the charter amendment itself was approved, and PricewaterhouseCoopers LLP was ratified as independent registered public accounting firm for the 2026 fiscal year.
Kelly Services reported a weak first quarter of 2026, swinging to a loss as revenue fell. Revenue from services was $1.04 billion, down 10.7% from the same quarter in 2025, or about 3.3% lower on an underlying basis after excluding previously disclosed customer impacts in federal government and three large commercial accounts.
The company posted an operating loss of $5.1 million versus prior-year operating earnings of $10.8 million, and a net loss of $5.9 million, or $0.17 per share, compared with earnings of $0.16 per share a year earlier. Adjusted EBITDA dropped to $15.8 million, with margin compressing to 1.5% from 3.0%, reflecting lower gross profit rates and segment margin pressure in Enterprise Talent Management, Science, Engineering & Technology, and Education despite double‑digit SG&A cuts.
Cash generation deteriorated, with free cash flow of negative $26.5 million compared with positive $21.4 million in the prior year, while debt-to-capital rose to 11.9%. Management reaffirmed its 2026 outlook, guiding to a smaller 7%–9% revenue decline and at least a 2.5% adjusted EBITDA margin in the second quarter, and modest year‑over‑year revenue growth with margin expansion in the second half of 2026. The board declared a quarterly dividend of $0.075 per share.
Kelly Services reported a challenging 2025 with softer revenue and much weaker earnings but stronger cash generation. Full-year revenue was $4.3 billion, down 1.9%, while adjusted EBITDA fell to $109.4 million with a 2.6% margin, reflecting gross margin pressure in Science, Engineering & Technology and Enterprise Talent Management. GAAP results swung to a larger net loss of $254.1 million, or $(7.24) per share, mainly due to a $197.6 million valuation allowance on tax credits and a $102.0 million goodwill impairment. On an adjusted basis, net earnings were $46.5 million and diluted EPS $1.26, both down from 2024. Free cash flow improved sharply to $114.1 million, supporting $158 million of capital deployment toward debt repayment, share repurchases and dividends. In the fourth quarter, revenue declined 11.9% to $1.1 billion, and adjusted EBITDA margin contracted to 2.0%, but operating performance improved versus a prior-year impairment-driven loss. Management expects continued revenue declines early in 2026 but modest organic growth and adjusted EBITDA margin expansion in the second half.
Kelly Services disclosed a change in control and broad governance changes tied to Hunt Equity Opportunities. On January 30, 2026, Hunt acquired beneficial ownership of 3,039,940 Class B shares for an aggregate purchase price of $106,000,000, representing about 92.2% of the company’s outstanding voting stock, with potential additional cash of $15,199,700 if market capitalization reaches $1.2 billion within 48 months.
The company amended its stockholder rights plan so Hunt’s purchase and future agreed acquisitions do not trigger it and so the rights expire immediately before closing. Credit and receivables facilities were also amended so the transaction does not constitute a change in control under those agreements. The board was reconstituted to add four Hunt-designated directors, with James Christopher Hunt becoming chairman, and committee memberships were realigned. Kelly Services noted it may now use Nasdaq’s “controlled company” exemptions, which could mean fewer independent directors on the board and key committees.
Kelly Services, Inc. adopted a stockholder rights plan and declared a dividend of one Right for each outstanding share of its Class A and Class B common stock to stockholders of record at 5:15 p.m. Eastern Time on January 11, 2026. Each Right allows the holder to buy a Fractional Share Bundle, consisting of 0.9833 shares of Class A common stock and 0.0167 shares of Class B common stock, at an exercise price of $44.00 per Right, subject to adjustment.
The Rights are attached to the common shares, are not separately tradable or exercisable until a specified Distribution Time, and expire at the earliest of several events, including January 10, 2027 or redemption. If a person or group becomes an Acquiring Person, holders other than that Acquiring Person can, upon exercise, receive securities valued at twice the exercise price through flip-in or flip-over features. The Board may redeem the Rights for $0.001 per Right or exchange them on defined terms, and may amend the plan subject to protections for Right holders after a stock acquisition date.
Kelly Services, Inc. discloses a severance agreement for Daniel H. Malan, Senior Vice President and President Science, Engineering & Technology, following his separation effective November 28, 2025.
Under the agreement, effective December 10, 2025, Mr. Malan will receive $468,000 in severance pay, equal to 52 weeks of his current base salary, paid on the regular payroll schedule. Kelly Services will subsidize his COBRA health insurance premiums for up to 12 months if he elects coverage, provide up to 12 months of outplacement services capped at $10,000, and pay a prorated annual incentive under its senior executive, equity, and short-term incentive plans. In return, he provides a general release of claims and accepts non-disparagement and confidentiality obligations.
Kelly Services filed an 8-K/A detailing a Separation and Transition Advisory Services Agreement with former CEO Peter Quigley. Quigley’s employment terms and compensation remain unchanged through October 31, 2025. From November 1, 2025 through April 30, 2026, he will serve as an employee providing transition advisory services at $25,000 per month with continued benefits. Equity awards will vest through the separation date, with unvested awards forfeited afterward, and the 2025 Short-Term Incentive Plan payment, if any, will be based on the first ten months of his 2025 base salary.
Kelly previously named Christopher Layden as President and CEO effective September 2, 2025, while Quigley continues as a strategic advisor and as a director until the next Annual Shareholders Meeting in May 2026. The agreement includes expense reimbursement, certain benefit continuations, standard restrictive covenants, a general release by Quigley, and ongoing indemnification for acts taken while providing services.
Kelly Services announced that Daniel H. Malan, Senior Vice President and President of its Science, Engineering & Technology segment, will separate from the company effective November 28, 2025. The company stated that the material terms of his separation arrangements will be reported when finalized. Mr. Malan is one of the named executive officers listed in Kelly’s 2025 proxy statement.
Kelly has engaged a nationally recognized firm to conduct a comprehensive search for a successor with experience in enhancing go-to-market strategies, capitalizing on opportunities created by artificial intelligence, and driving profitable growth. In the interim, Chief Executive Officer Chris Layden will be closely involved in managing the Science, Engineering & Technology segment to maintain service levels and keep strategic initiatives on track.
Kelly Services, Inc. furnished an update on its recent performance by releasing financial information with highlighted data for the three and nine months ended September 28, 2025. This information was provided through a press release and related presentation materials.
The company attached a press release as Exhibit 99.1 and presentation materials for a same-day conference call as Exhibit 99.2, offering more detail on its operating results and financial condition over that period.