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

Robert Half

Today 21:19

Corrects metric to EPS from adjusted EPS in second Overview bullet

Overview
US talent solutions provider's Q3 revenue was flat yr/yr and met analyst expectations
Q3 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: ID:nPn4K3K2ha

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

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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.)