Every 8-K that Kelly Services Inc (KELYB) 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 KELYB 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 KELYB 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. (Nasdaq: KELYB) filed a Form 8-K dated 7 Aug 2025 announcing two reportable events.
Item 2.02: The company issued a press release (Ex. 99.1) and slide deck (Ex. 99.2) containing summary financial information for the three- and six-month periods ended 29 Jun 2025. Specific revenue, profit or guidance figures are not included in the filing itself; investors must consult the attached exhibits for details.
Item 5.02: Kelly appointed Nicholas A. Zuhlke (45) as Vice President, Controller & Chief Accounting Officer effective 11 Aug 2025. Zuhlke was previously CAO of DexKo Global Holdings (2022-25) and brings more than two decades of accounting leadership experience. Compensation terms include: (i) $365,000 annual base salary, (ii) 50 % target cash bonus under the AIP, (iii) $50,000 cash sign-on bonus, (iv) $130,000 sign-on equity grant vesting over three years, and (v) future annual equity awards starting with the 2026 grant cycle, plus standard benefit and severance eligibility.
No other material transactions, financial restatements, or changes in control were disclosed.
Appointment: On August 7, 2025, Kelly Services, Inc. announced that Christopher Layden will become President and Chief Executive Officer effective September 2, 2025, succeeding Peter Quigley, who will remain a Board member and strategic advisor through the 2026 Annual Meeting. The Board will expand to nine directors and Mr. Layden will join the Board on his start date.
Compensation & severance: Base salary $1,000,000; STIP target 125% of salary with a guaranteed 2025 STIP of at least $450,000; LTIP target 250% of salary (0%–200% payout range by performance) beginning 2026. One-time cash sign-on $450,000 (recoverable if voluntarily departing within two years or terminated for cause). Sign-on restricted stock award valued at $4,000,000 vesting 15%/35%/50% over three years. Severance for qualified termination: 24 months base salary and prorated incentive; change-in-control severance equals 2x(base+target incentive) plus prorated incentive. Exhibit 10.1 and press release included.