Overview
Robert Half Q2 global enterprise revenue of $1.37 bln beats analyst expectations, per LSEG data
The recruiter's net income for Q2 falls to $41 mln from $68 mln year-over-year
Company cites global economic uncertainty impacting client and job seeker behavior
Result Drivers
ECONOMIC UNCERTAINTY - Persistent global economic uncertainty led to cautious client and job seeker behavior, extending decision cycles and reducing hiring activity, per CEO M. Keith Waddell
REVENUE STABILIZATION - Revenue levels fell modestly in the first two months of Q2 but stabilized at lower levels in June, according to CEO M. Keith Waddell
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $1.37 bln | $1.35 bln (8 Analysts) |
Q2 EPS |
| $0.41 |
|
Q2 Pretax Profit |
| $61.43 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "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 $45.50, about 6.2% above its July 22 closing price of $42.67
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 19 three months ago
Press Release: ID:nPnb49qp2a