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Monday, February 22, 2021
Kelly Services Inc. (KELYA)
Raising to Outperform on Positive Trends, Favorable Risk/Reward
Kelly Services Inc is a provider of workforce solutions and consulting and staffing services. The company's operations are divided into three business segments namely Americas Staffing, Global Talent Solutions ("GTS") and International Staffing. It provides staffing solutions through its branch networks in Americas and International operations and also provides a suite of innovative talent fulfilment and outcome-based solutions through GTS segment. Americas Staffing generates maximum revenue from its operations.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
4Qtr Results. Kelly reported revenue of $1.24 billion in 4Q20, down 7.2% y-o-y. EPS was $0.59, and adjusted EPS was $0.41, compared to $0.43 and $0.71, respectively. Note, 4Q20 consisted of 53 weeks compared to 52 in 4Q19. We had forecast revenue of $1.15 billion and EPS of $0.28 while consensus called for revenue of $1.14B and EPS of $0.27.
Improving Trends — 1. While COVID continues to impact, particularly the Education market, Kelly saw positive trends over the quarter with each of Kelly's five operating segments reporting sequential revenue improvement during the quarter. The OCG segment actually reported y-o-y growth in revenue. We believe Kelly is well positioned to benefit from improving economic trends ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
