World – Robert Half revenue up in the third quarter, international revenue up

October 24, 2022

Robert Half International Inc. (NYSE: RHI) reported Thursday that third-quarter revenue grew 7.1% year-over-year, or 9.9% adjusted for currency and trading days. billing.

“We are pleased to report revenue growth of 7% (10% currency-adjusted) in the third quarter year-on-year, on top of the very strong growth of 44% in the same quarter last year,” said President and CEO Mr. Keith. Waddell said. “Permanent placement led the way, with growth of 17% (20% adjusted for currency), and Protiviti’s revenues reached new all-time highs. Return on investment for the business was 45% in the third trimester.

At the same time, Robert Half’s international revenues increased 9.1%, adjusted for the impact of currencies and billing days. US revenue increased 10.0% in the third quarter.

Permanent placement revenue in the third quarter represented 13.8% of consolidated talent management solutions revenue, compared to 12.9% a year ago.

(in thousands of dollars) Q3 2022 Q3 2021 % change % change adjusted
Service revenue 1,833,455 1,712,566 7.1% 9.9%
Gross margin 787 609 725 327 8.6%
Gross margin percentage 43.0% 42.4%
Net revenue 166 206 170,871 -2.7%

Service revenue

(in thousands of dollars) Q3 2022 Q3 2021 % change % change adjusted
Finance and accounting 805 229 732,365 9.9% 12.8%
Administrative and customer support 250,531 279 370 -10.3% -7.8%
Technology 216,735 215,500 0.6% 2.5%
Elimination of inter-segment revenue (132,745) (172,534)
Total Contract Talent Solutions 1,139,750 1,054,701 8.1% 10.7%
Permanent placement 182,329 156,444 16.5% 20.3%
Protiviti 511 376 501 421 2.0% 4.8%

Contracts and Talent Solutions exited the third quarter with September revenue up 6% while first week of October revenue was up 5% from the third quarter of 2021. permanent increased by 17% compared to September 2021 and by 2% for the first two weeks. of October. With that in mind, the company’s forecast for Q4 2021 is revenue of $1.775 billion.

Shares of Robert Half closed Thursday at $79.84, down 1.22% on the day. The company has a market capitalization of $8.00 billion.

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