Today, February 14, Kelly Services (KELYA) released its fourth quarter and full year 2021 earnings report. The staffing company’s earnings for the quarter exceeded estimates, which appears to have to some investors. Shares of KELYA jumped 7.25% before market this morning.
Fourth quarter 2021 results
Kelly Services posted a profit of $71.7 million for its fourth quarter. Earnings were $1.80 per share. Adjusted earnings were $0.65 per share. Forecasters were only expecting earnings in the range of $0.28 per share. Revenue for the year 2021 was $156.1 million, or $3.91 per share, based on $4.91 billion in revenue.
CEO Comments: COVID-19 and Economic Recovery
In a press release, CEO Peter Quigley explained that the company’s fourth-quarter 2021 revenue of $1.3 billion was a 0.7% year-over-year increase. He also noted that quarterly revenue reflected growing customer demand compared to the prior year period affected by COVID-19. “Our fourth quarter results reflect that the economic recovery continues,” Quigley noted. “While our revenue growth in the quarter was impacted by the supply of talent, we are pleased with our ability to leverage growth to deliver strong gross profit and earnings improvements.”
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