Quarterly ResultMay 7, 2026, 03:23 PM
Kelly Services Q1 Net Loss $(5.9)M; Revenue Down 10.7% to $1.04B
AI Summary
Kelly Services reported a significant financial downturn in the first quarter of 2026, posting a net loss of $(5.9) million, a sharp contrast to the $5.8 million net profit in the prior year. Revenue from services also declined by 10.7% to $1.04 billion. The company experienced an operating loss and a substantial decrease in cash generated from operating activities, alongside an asset impairment charge and increased long-term debt.
Key Highlights
- Kelly Services reported a Q1 2026 net loss of $(5.9) million, a significant decline from a $5.8 million net profit in Q1 2025.
- Basic earnings per share fell to $(0.17) in Q1 2026 from $0.16 in Q1 2025.
- Revenue from services decreased by 10.7% to $1,040.7 million in Q1 2026 from $1,164.9 million in Q1 2025.
- The company recorded an operating loss of $(5.1) million in Q1 2026, compared to an operating profit of $10.8 million in Q1 2025.
- Integration and realignment costs decreased to $4.7 million in Q1 2026 from $10.7 million in Q1 2025.
- An asset impairment charge of $2.2 million was recognized in Q1 2026.
- Net cash used in operating activities was $(25.4) million in Q1 2026, a decrease from $23.9 million generated in Q1 2025.
- Long-term debt increased to $130.5 million as of March 29, 2026, from $101.9 million at year-end 2025.
Price Impact
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