The following is a summary of the Robert Half Inc. (RHI) Q1 2024 Earnings Call Transcript:
Financial Performance:
Robert Half reported Q1 2024 revenues of $1.476 billion, down 14% from Q1 2023. The net income per share stood at $0.61, lower than the $1.14 in Q1 last year.
The company distributed a $0.53 per share cash dividend to shareholders, costing $58 million. Around 750,000 Robert Half shares were also purchased during the quarter at a total of $60 million.
The return on invested capital was 16% for the quarter. The SG&A costs for the enterprise, talent solutions, and Protiviti were 35.3%, 44.3%, and 15.8% of their respective revenues.
Business Progress:
The company anticipates higher sequential earnings for the second quarter, driven by Protiviti, indicating stabilization trends.
Robert Half continues to invest in technology advances like large language models in its AI matching algorithms to differentiate itself.
Despite a dip in Q1 revenues, the company remains optimistic about future growth prospects, attributing this to its leading brands, modern technology, and distinctive business model. The company plans on capitalizing on improving macroeconomic conditions.
More details: Robert Half IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.