Revenue for Q3 2024 totalled $1.04bn (£810m), a 7.1% decrease compared to the corresponding quarter of 2023 resulting primarily from the sale of the company’s European staffing operations on 2 January 2024, and partially offset by the May 2024 acquisition of Motion Recruitment Partners. 

Excluding the impact of both transactions, revenue was down 0.2% on an organic basis, reflecting a stabilisation of year-over-year revenues for the second consecutive quarter. This was despite the continued effects of customers’ more guarded approach to hiring, initiating new projects, and backfilling open roles, Kelly said in a statement. MRP revenue added 11.2% to reported Q3 year-over-year revenue growth.

Kelly reported operating earnings in Q3 2024 of $2.6m (£2.02m), compared to earnings of $0.1m reported in Q3 2023. Adjusted earnings were $11.7m in Q3 2024. The $9.1m increase from reported earnings includes costs related to MRP integration and further aligning processes and technology across the company, as well as charges related to the acquisition of MRP and the sale of the European staffing operations. The acquisition of MRP added $2m of earnings from operations in the third quarter of 2024. 

Adjusted earnings in Q3 2023 were $15.5m. The $15.4 from reported earnings included transformation-related charges. The European staffing operations produced $0.8m of earnings from operations on an adjusted basis in Q3 2023.

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