Robert Half Inc. announced its third-quarter 2024 financial results, reporting net income of $65 million, or $0.64 per share, on revenues of $1.465 billion. This compares to net income of $96 million, or $0.90 per share, on revenues of $1.564 billion in the prior year's third quarter. Global revenues were down 6% on a reported basis and 8% on an adjusted basis year-over-year.
The company's Protiviti consulting segment delivered strong results, posting sequential and year-on-year revenue gains, which exceeded management's expectations. Despite this, client budgets remained constrained and decision cycles were extended, though business confidence levels showed signs of improvement, supported by progress on inflation and anticipated rate cuts.
For the fourth quarter of 2024, Robert Half provided guidance projecting revenues between $1.31 billion and $1.41 billion, with a midpoint of $1.39 billion, representing a 7% adjusted year-over-year decline. Diluted earnings per share are expected to be between $0.47 and $0.61, which is below the analyst consensus of $0.64. The company also reported $130 million in cash flow from operations and repurchased approximately 800,000 shares for $49 million during the quarter.
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