Q4 2024 Robert Half Inc Earnings Call Transcript
Key Points
- Protiviti reported year-on-year revenue growth for the second consecutive quarter, with a 5% increase globally.
- Cash flow from operations was strong at $155 million, and the company distributed a $0.53 per share cash dividend, marking a 10.4% increase from the previous year.
- Robert Half Inc (RHI) repurchased approximately 1 million shares during the quarter, indicating confidence in the company's valuation.
- The company maintained a return on invested capital of 15% in the fourth quarter.
- Protiviti's collaboration with talent solutions has been a significant competitive advantage, with contractor-sourced revenues up 18%.
- Global enterprise revenues decreased by 6% on a reported basis and 7% on an adjusted basis compared to the previous year.
- Net income per share dropped to $0.53 from $0.83 in the same quarter last year.
- U.S. talent solutions revenues fell by 11%, and non-U.S. talent solutions revenues decreased by 14% year over year.
- Contract talent solutions gross margin declined to 39.1% from 39.7% in the previous year.
- The company experienced a decrease in permanent placement revenues, which were down 6% in December compared to the previous year.
Hello and welcome to the Robert Half fourth-quarter 2024 conference call. Today's conference call is being recorded. (Operator Instructions)
Our hosts for today's call are Mr. Keith Waddell, President and Chief Executive Officer of Robert Half; and Mr. Michael Buckley, Chief Financial Officer.
Mr. Waddell, you may begin.
Hello, everyone. We appreciate your time today. Before we get started, I'd like to remind you that the comments made on today's call contain forward-looking statements, including predictions and estimates about our future performance. These statements represent our current judgment of what the future holds. However, they're subject to risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties are described in today's press release and at our recent 10-K and 10-Q filed with the SEC. We assume no obligation to update the statements made on today's call.
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