Robert Half: Weak Margins Weigh On Results Even As Revenue Nears A Floor
RHI's fourth-quarter 2024 revenues and earnings decrease year over year.
Robert Half Inc. (NYSE:RHI ) Q4 2024 Earnings Conference Call January 29, 2025 5:00 PM ET Company Participants Keith Waddell - President and Chief Executive Officer Michael Buckley - Chief Financial Officer Conference Call Participants Mark Marcon - Baird Andrew Steinerman - JPMorgan Trevor Romeo - William Blair Manav Patnaik - Barclays Stephanie Moore - Jefferies George Tong - Goldman Sachs Kevin Mcveigh - UBS Jeff Silber - BMO Capital Markets Kartik Mehta - Northcoast Research Tobey Sommer - Truist Securities Operator Please standby. Hello, and welcome to the Robert Half Fourth Quarter 2024 Conference Call.
The headline numbers for Robert Half (RHI) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Robert Half (RHI) came out with quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.83 per share a year ago.
The RHI stock is benefiting from the rise in Protiviti's revenues and shareholder-friendly policies.
Robert Half faces declining revenues and increasing operational costs as skilled labor demand higher compensation and more flexible working arrangements. The Protiviti business unit shows promise for future growth with a focus on advanced technology skills. Robert Half offers a 3.2% dividend yield growing at 11.3% annually, appealing to income-seeking investors.
Robert Half's stock is benefiting from Protiviti's ability for AI adoption and implementation of Azure-based solutions.
I reiterate my sell rating for Robert Half Inc. due to poor near-term earnings outlook and lackluster topline performance. RHI's 3Q24 results showed a 6.3% revenue decline and a 29.2% drop in adjusted EPS, highlighting ongoing challenges. With high market expectations and a forward PE of ~21x, I advise against investing now.
RHI's third-quarter 2024 revenues decrease year over year.
Robert Half Inc. (NYSE:RHI ) Q3 2024 Earnings Conference Call October 22, 2024 5:00 PM ET Company Participants Keith Waddell - President and Chief Executive Officer Michael Buckley - Chief Financial Officer Conference Call Participants Andrew Steinerman - JPMorgan Mark Marcon - Robert W. Baird Company Princy Thomas - Barclays Trevor Romeo - William Blair Tobey Sommer - Truist George Tong - Goldman Sachs Stephanie Moore - Jefferies Operator Hello, and welcome to the Robert Half Third Quarter 2024 Conference Call.
Although the revenue and EPS for Robert Half (RHI) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.