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ROBERT HALF REPORTS FIRST-QUARTER FINANCIAL RESULTS

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1 year ago

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MENLO PARK, Calif., April 23, 2025 /CNW/ — Robert Half Inc. (NYSE: RHI) today reported revenues and earnings for the first quarter ended March 31, 2025.

For the three months ended March 31, 2025, net income was $17 million, or $0.17 per share, on revenues of $1.352 billion. For the three months ended March 31, 2024, net income was $64 million, or $0.61 per share, on revenues of $1.476 billion.

“For the first quarter of 2025, global enterprise revenues were $1.352 billion, down 8 percent from last year’s first quarter on a reported basis, and down 6 percent on an adjusted basis. Business confidence levels moderated during the quarter in response to heightened economic uncertainty over U.S. trade and other policy developments. Client and job seeker caution continues to elongate decision cycles and subdue hiring activity and new project starts,” said M. Keith Waddell, president and chief executive officer at Robert Half. “Despite the uncertain outlook, we are very well-positioned to capitalize on emerging opportunities and support our clients’ talent and consulting needs through the strength of our industry-leading brand, our people, our technology and our unique business model that includes both professional staffing and business consulting services.

“We’d like to thank our employees across the globe for their resilience and unwavering commitment to success. Their efforts have earned us significant recognition already in 2025, including being honored as one of America’s Most Innovative Companies by Fortune and one of America’s Best Large Employers by Forbes. We are particularly proud that high levels of employee engagement again earned both Robert Half and Protiviti recognition as two of Fortune’s 100 Best Companies to Work For,” Waddell concluded.

Robert Half management will conduct a conference call today at 5 p.m. EDT. The prepared remarks for this call are available now in the Investor Center of the Robert Half website (www.roberthalf.com/investor-center). Simply click on the Quarterly Conference Calls link. The dial-in number is 888-394-8218 (+1-323-994-2093 outside the United States and Canada). The confirmation code to access the call is 5634922.

A recording of this call will be available for audio replay beginning at approximately 8 p.m. EDT on April 23 and ending after 12 months. To access the replay, visit https://webcasts.com/RobertHalfQ12025. The conference call also will be archived in audio format on the Company’s website at roberthalf.com.

Robert Half is the world’s first and largest specialized talent solutions and business consulting firm, connecting highly skilled job seekers with rewarding opportunities at great companies. We offer contract talent and permanent placement solutions in the fields of finance and accounting, technology, marketing and creative, legal, and administrative and customer support, and we also provide executive search services. Robert Half is the parent company of Protiviti®, a global consulting firm that delivers internal audit, risk, business and technology consulting solutions. In the past 12 months, Robert Half, including Protiviti, has been named one of the Fortune® World’s Most Admired Companies™ and 100 Best Companies to Work For.

Certain information contained in this press release and its attachments may be deemed forward-looking statements regarding events and financial trends that may affect the future operating results or financial positions of Robert Half Inc. (the “Company”). Forward-looking statements are not guarantees or promises that goals or targets will be met. These statements may be identified by words such as “anticipate,” “potential,” “estimate,” “forecast,” “target,” “project,” “plan,” “intend,” “believe,” “expect,”  “should,” “could,” “would,” “may,” “might,” “will,” or variations or negatives thereof or by similar or comparable words or phrases. In addition, historical, current and forward-looking information about the Company’s corporate responsibility and compliance programs, including targets or goals, may not be considered material for the Securities and Exchange Commission (“SEC”) or other mandatory reporting purposes and may be based on standards for measuring progress that are still developing, on internal controls, diligence or processes that are evolving, on representations reviewed or provided by third parties, and on assumptions that are subject to change in the future. Forward-looking statements are estimates only and are based on management’s current expectations, currently available information and current strategy, plans or forecasts, and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict, often beyond our control and are inherently uncertain.  Forward-looking statements are subject to risks and uncertainties that could cause actual results and outcomes, or the timing of these results or outcomes, to differ materially from those expressed or implied in the statements.

These risks and uncertainties include, but are not limited to, the following: changes to or new interpretations of United States of America (“U.S.”) or international tax regulations; the global financial and economic situation; changes in levels of unemployment and other economic conditions in the U.S. or foreign countries where the Company does business, or in particular regions or industries; reduction in the supply of candidates for contract employment or the Company’s ability to attract candidates; the development, proliferation and adoption of artificial intelligence (“AI”) by the Company and the third parties it serves; the entry of new competitors into the marketplace or expansion by existing competitors; the ability of the Company to maintain existing client relationships and attract new clients in the context of changing economic or competitive conditions; the impact of competitive pressures, including any change in the demand for the Company’s services, or the Company’s ability to maintain its margins; the possibility of the Company incurring liability for its activities, including the activities of its engagement professionals, or for events impacting its engagement professionals on clients’ premises; the possibility that adverse publicity could impact the Company’s ability to attract and retain clients and candidates; the success of the Company in attracting, training and retaining qualified management personnel and other staff employees; the Company’s ability to comply with governmental regulations affecting personnel services businesses in particular or employer/employee relationships in general; whether there will be ongoing demand for Sarbanes-Oxley or other regulatory compliance services; the Company’s reliance on short-term contracts for a significant percentage of its business; litigation relating to prior or current transactions or activities, including litigation that may be disclosed from time to time in the Company’s SEC filings; the impact of extreme weather conditions on the Company and its candidates and clients; the ability of the Company to manage its international operations and comply with foreign laws and regulations; the impact of fluctuations in foreign currency exchange rates; the possibility that the additional costs the Company will incur as a result of health care or other reform legislation may adversely affect the Company’s profit margins or the demand for the Company’s services; the possibility that the Company’s computer and communications hardware and software systems could be damaged or their service interrupted or that the Company could experience a cybersecurity breach; and the possibility that the Company may fail to maintain adequate financial and management controls, and as a result suffer errors in its financial reporting.

Additionally, with respect to Protiviti, other risks and uncertainties include the fact that future success will depend on its ability to retain employees and attract clients; there can be no assurance that there will be ongoing demand for broad-based consulting, regulatory compliance, technology services, public sector or other high-demand advisory services; failure to produce projected revenues could adversely affect financial results; and there is the possibility of involvement in litigation relating to prior or current transactions or activities.

A summary of additional risks and uncertainties can be found in the Annual Report on Form 10-K for the year ended December 31, 2024, and in the Company’s other filings with the U.S. Securities and Exchange Commission.

Because long-term contracts are not a significant part of the Company’s business, future results cannot be reliably predicted by considering past trends or extrapolating past results. Except as required by law, the Company undertakes no obligation to update information in this report, whether as a result of new information, future events, or otherwise, and notwithstanding any historical practice of doing so.

A copy of this release is available at www.roberthalf.com/investor-center. 

ATTACHED: 

Summary of Operations

 

Supplemental Financial Information

 

Non-GAAP Financial Measures

 

ROBERT HALF INC.

SUMMARY OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended
March 31,

2025

2024

(Unaudited)

Service revenues

$  1,351,907

$  1,475,937

Costs of services

852,862

913,140

Gross margin

499,045

562,797

Selling, general and administrative expenses

460,163

521,899

Operating income

38,882

40,898

(Income) loss from investments held in employee deferred compensation trusts (which is
     completely offset by related costs and expenses)

20,171

(43,376)

Interest income, net

(3,572)

(6,413)

Income before income taxes

22,283

90,687

Provision for income taxes

4,933

26,986

Net income

$       17,350

$       63,701

Diluted net income per share

$           0.17

$           0.61

Weighted average shares:

Basic

100,666

103,787

Diluted

101,015

104,399

 

ROBERT HALF INC.

SUPPLEMENTAL FINANCIAL INFORMATION

(in thousands)

Three Months Ended
March 31,

2025

2024

(Unaudited)

SERVICE REVENUES INFORMATION

Contract talent solutions

 Finance and accounting

$    562,933

$    641,970

 Administrative and customer support

165,627

199,932

 Technology

152,542

157,970

 Elimination of intersegment revenues (1)

(117,897)

(112,814)

 Total contract talent solutions

763,205

887,058

Permanent placement talent solutions

112,091

124,767

Protiviti

476,611

464,112

 Total service revenues

$ 1,351,907

$ 1,475,937

(1)

Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to the Company’s Protiviti segment in connection with the Company’s blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line.

 

March 31,

2025

2024

(Unaudited)

SELECTED BALANCE SHEET INFORMATION:

Cash and cash equivalents

$    342,473

$    540,939

Accounts receivable, net

$    786,560

$    861,450

Total assets

$ 2,696,953

$ 2,889,702

Total current liabilities

$ 1,190,356

$ 1,179,540

Total stockholders’ equity

$ 1,313,222

$ 1,519,245

 

Three Months Ended March 31,

2025

2024

(Unaudited)

SELECTED CASH FLOW INFORMATION:

Depreciation

$        13,006

$         13,004

Capitalized cloud computing implementation costs

$          6,160

$           8,391

Capital expenditures

$        12,394

$         11,780

Open market repurchases of common stock (shares)

668

761

ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES

The financial results of Robert Half Inc. (the “Company”) are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the SEC. To help readers understand the Company’s financial performance, the Company supplements its GAAP financial results with the following non-GAAP measures: adjusted gross margin; adjusted selling, general and administrative expenses; adjusted operating income; and adjusted revenue growth rates.

The following measures: adjusted gross margin, adjusted selling, general and administrative expenses and adjusted operating income, include gains and losses on investments held to fund the Company’s obligations under employee deferred compensation plans. The Company provides these measures because they are used by management to review its operational results.

Adjusted revenue growth rates represent year-over-year revenue growth rates after removing the impacts on reported revenues from the changes in the number of billing days and foreign currency exchange rates. The Company provides this data because it focuses on the Company’s revenue growth rates attributable to operating activities and aids in evaluating revenue trends over time. The impacts from the changes in billing days and foreign currency exchange rates are calculated as follows:

Billing days impact is calculated by dividing each comparative period’s reported revenues by the number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based on the per billing day amounts. Management calculates a global, weighted-average number of billing days for each reporting period based upon inputs from all countries and all functional specializations and segments.Foreign currency impact is calculated by retranslating current period international revenues, using foreign currency exchange rates from the prior year’s comparable period.

The non-GAAP financial measures provided herein may not provide information that is directly comparable to that provided by other companies in the Company’s industry, as other companies may calculate such financial results differently. The Company’s non-GAAP financial measures are not measurements of financial performance under GAAP and should not be considered as alternatives to amounts presented in accordance with GAAP. The Company does not consider these non-GAAP financial measures to be a substitute for, or superior to, the information provided by GAAP financial results. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is provided on the following pages.

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

ADJUSTED GROSS MARGIN (UNAUDITED):

(in thousands)

Three Months Ended March 31,

Relationships

As Reported

As Adjusted

As Reported

As Adjusted

2025

2024

2025

2024

2025

2024

2025

2024

Gross Margin

 Contract talent solutions

$   296,933

$   350,570

$   296,933

$   350,570

38.9 %

39.5 %

38.9 %

39.5 %

 Permanent placement talent solutions

111,861

124,548

111,861

124,548

99.8 %

99.8 %

99.8 %

99.8 %

 Total talent solutions

408,794

475,118

408,794

475,118

46.7 %

47.0 %

46.7 %

47.0 %

 Protiviti

90,251

87,679

86,212

96,036

18.9 %

18.9 %

18.1 %

20.7 %

 Total

$   499,045

$   562,797

$   495,006

$   571,154

36.9 %

38.1 %

36.6 %

38.7 %

The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the three months ended March 31, 2025 and 2024:

Three Months Ended March 31, 2025

Three Months Ended March 31, 2024

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

Gross Margin

As Reported

$    296,933

38.9 %

$  111,861

99.8 %

$    408,794

46.7 %

$   90,251

18.9 %

$   499,045

36.9 %

$    350,570

39.5 %

$  124,548

99.8 %

$    475,118

47.0 %

$     87,679

18.9 %

$     562,797

38.1 %

  Adjustments (1)

—

—

—

—

—

—

(4,039)

(0.8 %)

(4,039)

(0.3 %)

—

—

—

—

—

—

8,357

1.8 %

8,357

0.6 %

As Adjusted

$    296,933

38.9 %

$  111,861

99.8 %

$    408,794

46.7 %

$   86,212

18.1 %

$   495,006

36.6 %

$    350,570

39.5 %

$  124,548

99.8 %

$    475,118

47.0 %

$     96,036

20.7 %

$     571,154

38.7 %

(1)

Changes in the Company’s employee deferred compensation plan obligations related to Protiviti operations are included in costs of services, while the related investment (income) loss is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment (income) loss from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.

 

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

ADJUSTED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED):

(in thousands)

Three Months Ended March 31,

Relationships

As Reported

As Adjusted

As Reported

As Adjusted

2025

2024

2025

2024

2025

2024

2025

2024

Selling, General and

  Administrative Expenses

 Contract talent solutions

$   276,212

$   331,588

$   290,242

$   300,452

36.2 %

37.4 %

38.0 %

33.9 %

 Permanent placement talent solutions

106,135

116,576

108,237

112,693

94.7 %

93.4 %

96.6 %

90.3 %

 Total talent solutions

382,347

448,164

398,479

413,145

43.7 %

44.3 %

45.5 %

40.8 %

 Protiviti

77,816

73,735

77,816

73,735

16.3 %

15.9 %

16.3 %

15.9 %

 Total

$   460,163

$   521,899

$   476,295

$   486,880

34.0 %

35.4 %

35.2 %

33.0 %

The following tables provide reconciliations of the non-GAAP adjusted selling, general and administrative expenses to reported selling, general and administrative expenses for the three months ended March 31, 2025 and 2024:

Three Months Ended March 31, 2025

Three Months Ended March 31, 2024

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

Selling, General and

  Administrative Expenses

  As Reported

$ 276,212

36.2 %

$   106,135

94.7 %

$  382,347

43.7 %

$     77,816

16.3 %

$   460,163

34.0 %

$ 331,588

37.4 %

$ 116,576

93.4 %

$ 448,164

44.3 %

$     73,735

15.9 %

$   521,899

35.4 %

    Adjustments (1)

14,030

1.8 %

2,102

1.9 %

16,132

1.8 %

—

—

16,132

1.2 %

(31,136)

(3.5 %)

(3,883)

(3.1 %)

(35,019)

(3.5 %)

—

—

(35,019)

(2.4 %)

  As Adjusted

$ 290,242

38.0 %

$   108,237

96.6 %

$  398,479

45.5 %

$     77,816

16.3 %

$   476,295

35.2 %

$ 300,452

33.9 %

$ 112,693

90.3 %

$ 413,145

40.8 %

$     73,735

15.9 %

$   486,880

33.0 %

(1)

Changes in the Company’s employee deferred compensation plan obligations related to talent solutions operations are included in selling, general and administrative expenses, while the related investment (income) loss is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment (income) loss from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.

 

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

ADJUSTED OPERATING INCOME (UNAUDITED):

(in thousands)

Three Months Ended March 31,

Relationships

As Reported

As Adjusted

As Reported

As Adjusted

2025

2024

2025

2024

2025

2024

2025

2024

Operating income

 Contract talent solutions

$     20,721

$     18,982

$       6,691

$     50,118

2.7 %

2.1 %

0.9 %

5.6 %

 Permanent placement talent solutions

5,726

7,972

3,624

11,855

5.1 %

6.4 %

3.2 %

9.5 %

 Total talent solutions

26,447

26,954

10,315

61,973

3.0 %

2.7 %

1.2 %

6.1 %

 Protiviti

12,435

13,944

8,396

22,301

2.6 %

3.0 %

1.8 %

4.8 %

 Total

$     38,882

$     40,898

$     18,711

$     84,274

2.9 %

2.8 %

1.4 %

5.7 %

The following tables provide reconciliations of the non-GAAP adjusted operating income to reported operating income for the three months ended March 31, 2025 and 2024:

Three Months Ended March 31, 2025

Three Months Ended March 31, 2024

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

Contract talent

solutions

Permanent
placement talent
solutions

Total talent
solutions

Protiviti

Total

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

$

% of
Revenue

Operating income

As Reported

$  20,721

2.7 %

$     5,726

5.1 %

$     26,447

3.0 %

$   12,435

2.6 %

$      38,882

2.9 %

$   18,982

2.1 %

$     7,972

6.4 %

$   26,954

2.7 %

$     13,944

3.0 %

$      40,898

2.8 %

  Adjustments (1)

(14,030)

(1.8 %)

(2,102)

(1.9 %)

(16,132)

(1.8 %)

(4,039)

(0.8 %)

(20,171)

(1.5 %)

31,136

3.5 %

3,883

3.1 %

35,019

3.4 %

8,357

1.8 %

43,376

2.9 %

As Adjusted

$    6,691

0.9 %

$     3,624

3.2 %

$     10,315

1.2 %

$     8,396

1.8 %

$      18,711

1.4 %

$   50,118

5.6 %

$     11,855

9.5 %

$   61,973

6.1 %

$     22,301

4.8 %

$      84,274

5.7 %

(1)

Changes in the Company’s employee deferred compensation plan obligations related to talent solutions operations are included in operating income. The non-GAAP financial adjustments shown in the table above are to reclassify investment (income) loss from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.

 

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATES (%) (UNAUDITED): 

Year-Over-Year Growth Rates

(As Reported)

Non-GAAP Year-Over-Year Growth Rates

(As Adjusted)

2023

2024

2025

2023

2024

2025

Q4

Q1

Q2

Q3

Q4

Q1

Q4

Q1

Q2

Q3

Q4

Q1

Global

Finance and accounting

-17.2

-17.5

-13.6

-9.2

-9.5

-12.3

-17.8

-17.0

-13.5

-10.5

-9.8

-10.0

Administrative and customer
     support

-18.7

-8.9

-9.8

-9.2

-8.8

-17.2

-19.4

-8.3

-9.8

-10.8

-9.4

-15.2

Technology

-21.7

-18.6

-13.1

-6.1

-3.5

-3.4

-21.8

-17.8

-13.1

-7.6

-4.1

-1.3

Elimination of intersegment
     revenues (1)

-26.6

-10.3

1.4

21.6

18.9

4.5

-27.2

-9.9

1.3

19.4

17.8

6.8

Total contract talent solutions

-17.2

-16.7

-14.5

-11.9

-11.5

-14.0

-17.7

-16.2

-14.4

-13.2

-11.8

-11.8

Permanent placement talent
     solutions

-22.0

-20.4

-12.2

-11.9

-11.1

-10.2

-22.6

-19.8

-12.0

-13.2

-11.4

-7.8

Total talent solutions

-17.8

-17.2

-14.2

-11.9

-11.4

-13.5

-18.3

-16.7

-14.0

-13.2

-11.7

-11.3

Protiviti

-7.1

-6.1

-0.9

6.4

5.3

2.7

-7.5

-5.4

-0.9

4.5

4.5

4.7

Total

-14.7

-14.0

-10.2

-6.3

-6.1

-8.4

-15.2

-13.4

-10.1

-7.7

-6.6

-6.2

United States

Contract talent solutions

-20.5

-19.1

-15.7

-12.4

-10.3

-11.8

-20.3

-18.6

-15.8

-13.7

-11.2

-10.7

Permanent placement talent
     solutions

-22.6

-19.3

-11.5

-9.0

-9.6

-8.5

-22.5

-18.7

-11.7

-10.4

-10.4

-7.3

Total talent solutions

-20.7

-19.1

-15.2

-12.0

-10.2

-11.4

-20.6

-18.6

-15.3

-13.3

-11.1

-10.3

Protiviti

-7.3

-4.8

3.3

9.3

6.6

2.3

-7.2

-4.2

3.1

7.6

5.6

3.6

Total

-16.8

-14.9

-9.6

-5.2

-4.7

-6.9

-16.7

-14.3

-9.7

-6.7

-5.7

-5.7

International

Contract talent solutions

-4.4

-8.4

-10.0

-10.6

-15.2

-20.7

-7.5

-7.5

-9.4

-11.7

-13.9

-16.2

Permanent placement talent
     solutions

-20.6

-23.2

-13.8

-18.6

-14.7

-14.5

-22.8

-22.1

-13.0

-19.8

-13.7

-10.1

Total talent solutions

-7.2

-10.8

-10.7

-11.9

-15.1

-19.8

-10.1

-9.9

-10.0

-13.0

-13.9

-15.3

Protiviti

-6.1

-11.3

-16.2

-5.6

0.2

4.4

-8.9

-10.1

-15.9

-8.1

-0.4

7.9

Total

-6.9

-10.9

-12.2

-10.2

-10.9

-13.6

-9.8

-10.0

-11.6

-11.7

-10.2

-9.4

(1)

Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to Protiviti in connection with the Company’s blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line item.

The non-GAAP financial measures included in the table above adjust for the following items:

Billing Days. The “As Reported” revenue growth rates are based upon reported revenues. Management calculates the billing day impact by dividing each comparative period’s reported revenues by the number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based on the per billing day amounts. Management calculates a global, weighted-average number of billing days for each reporting period based upon input from all countries and all functional specializations and segments.

Foreign Currency Translation. The “As Reported” revenue growth rates are based upon reported revenues, which include the impact of changes in foreign currency exchange rates. The foreign currency impact is calculated by retranslating current period international revenues, using foreign currency exchange rates from the prior year’s comparable period.

The term “As Adjusted” means that the impact of different billing days and constant currency fluctuations are removed from the revenue growth rate calculation. A reconciliation of the non-GAAP year-over-year revenue growth rates to the “As Reported” year-over-year revenue growth rates is included herein, on Pages 10-12.

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):

Year-Over-Year Revenue Growth – GLOBAL

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Q4 2024

 Q1 2025

Finance and accounting

As Reported

-17.2

-17.5

-13.6

-9.2

-9.5

-12.3

Billing Days Impact

0.1

0.7

-0.3

-1.5

-0.8

1.3

Currency Impact

-0.7

-0.2

0.4

0.2

0.5

1.0

As Adjusted

-17.8

-17.0

-13.5

-10.5

-9.8

-10.0

Administrative and customer support

As Reported

-18.7

-8.9

-9.8

-9.2

-8.8

-17.2

Billing Days Impact

0.2

0.8

-0.3

-1.5

-0.8

1.3

Currency Impact

-0.9

-0.2

0.3

-0.1

0.2

0.7

As Adjusted

-19.4

-8.3

-9.8

-10.8

-9.4

-15.2

Technology

As Reported

-21.7

-18.6

-13.1

-6.1

-3.5

-3.4

Billing Days Impact

0.1

0.7

-0.3

-1.5

-0.7

1.4

Currency Impact

-0.2

0.1

0.3

0.0

0.1

0.7

As Adjusted

-21.8

-17.8

-13.1

-7.6

-4.1

-1.3

Elimination of intersegment revenues

As Reported

-26.6

-10.3

1.4

21.6

18.9

4.5

Billing Days Impact

0.1

0.7

-0.3

-1.9

-1.0

1.6

Currency Impact

-0.7

-0.3

0.2

-0.3

-0.1

0.7

As Adjusted

-27.2

-9.9

1.3

19.4

17.8

6.8

Total contract talent solutions

As Reported

-17.2

-16.7

-14.5

-11.9

-11.5

-14.0

Billing Days Impact

0.2

0.6

-0.3

-1.4

-0.7

1.3

Currency Impact

-0.7

-0.1

0.4

0.1

0.4

0.9

As Adjusted

-17.7

-16.2

-14.4

-13.2

-11.8

-11.8

Permanent placement talent solutions

As Reported

-22.0

-20.4

-12.2

-11.9

-11.1

-10.2

Billing Days Impact

0.1

0.7

-0.3

-1.4

-0.7

1.3

Currency Impact

-0.7

-0.1

0.5

0.1

0.4

1.1

As Adjusted

-22.6

-19.8

-12.0

-13.2

-11.4

-7.8

Total talent solutions

As Reported

-17.8

-17.2

-14.2

-11.9

-11.4

-13.5

Billing Days Impact

0.2

0.6

-0.2

-1.4

-0.7

1.2

Currency Impact

-0.7

-0.1

0.4

0.1

0.4

1.0

As Adjusted

-18.3

-16.7

-14.0

-13.2

-11.7

-11.3

Protiviti

As Reported

-7.1

-6.1

-0.9

6.4

5.3

2.7

Billing Days Impact

0.2

0.7

-0.3

-1.7

-0.8

1.5

Currency Impact

-0.6

0.0

0.3

-0.2

0.0

0.5

As Adjusted

-7.5

-5.4

-0.9

4.5

4.5

4.7

Total

As Reported

-14.7

-14.0

-10.2

-6.3

-6.1

-8.4

Billing Days Impact

0.1

0.7

-0.3

-1.4

-0.8

1.4

Currency Impact

-0.6

-0.1

0.4

0.0

0.3

0.8

As Adjusted

-15.2

-13.4

-10.1

-7.7

-6.6

-6.2

 

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):

Year-Over-Year Revenue Growth – UNITED STATES

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Q4 2024

 Q1 2025

Contract talent solutions

As Reported

-20.5

-19.1

-15.7

-12.4

-10.3

-11.8

Billing Days Impact

0.2

0.5

-0.1

-1.3

-0.9

1.1

Currency Impact

―

―

―

―

―

―

As Adjusted

-20.3

-18.6

-15.8

-13.7

-11.2

-10.7

Permanent placement talent solutions

As Reported

-22.6

-19.3

-11.5

-9.0

-9.6

-8.5

Billing Days Impact

0.1

0.6

-0.2

-1.4

-0.8

1.2

Currency Impact

―

―

―

―

―

―

As Adjusted

-22.5

-18.7

-11.7

-10.4

-10.4

-7.3

Total talent solutions

As Reported

-20.7

-19.1

-15.2

-12.0

-10.2

-11.4

Billing Days Impact

0.1

0.5

-0.1

-1.3

-0.9

1.1

Currency Impact

―

―

―

―

―

―

As Adjusted

-20.6

-18.6

-15.3

-13.3

-11.1

-10.3

Protiviti

As Reported

-7.3

-4.8

3.3

9.3

6.6

2.3

Billing Days Impact

0.1

0.6

-0.2

-1.7

-1.0

1.3

Currency Impact

―

―

―

―

―

―

As Adjusted

-7.2

-4.2

3.1

7.6

5.6

3.6

Total

As Reported

-16.8

-14.9

-9.6

-5.2

-4.7

-6.9

Billing Days Impact

0.1

0.6

-0.1

-1.5

-1.0

1.2

Currency Impact

―

―

―

―

―

―

As Adjusted

-16.7

-14.3

-9.7

-6.7

-5.7

-5.7

 

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):

Year-Over-Year Revenue Growth – INTERNATIONAL

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Q4 2024

 Q1 2025

Contract talent solutions

As Reported

-4.4

-8.4

-10.0

-10.6

-15.2

-20.7

Billing Days Impact

0.1

1.5

-1.1

-1.6

-0.4

0.6

Currency Impact

-3.2

-0.6

1.7

0.5

1.7

3.9

As Adjusted

-7.5

-7.5

-9.4

-11.7

-13.9

-16.2

Permanent placement talent solutions

As Reported

-20.6

-23.2

-13.8

-18.6

-14.7

-14.5

Billing Days Impact

0.1

1.3

-1.0

-1.6

-0.4

0.6

Currency Impact

-2.3

-0.2

1.8

0.4

1.4

3.8

As Adjusted

-22.8

-22.1

-13.0

-19.8

-13.7

-10.1

Total talent solutions

As Reported

-7.2

-10.8

-10.7

-11.9

-15.1

-19.8

Billing Days Impact

0.2

1.4

-1.0

-1.6

-0.5

0.6

Currency Impact

-3.1

-0.5

1.7

0.5

1.7

3.9

As Adjusted

-10.1

-9.9

-10.0

-13.0

-13.9

-15.3

Protiviti

As Reported

-6.1

-11.3

-16.2

-5.6

0.2

4.4

Billing Days Impact

0.2

1.4

-1.0

-1.7

-0.4

0.7

Currency Impact

-3.0

-0.2

1.3

-0.8

-0.2

2.8

As Adjusted

-8.9

-10.1

-15.9

-8.1

-0.4

7.9

Total

As Reported

-6.9

-10.9

-12.2

-10.2

-10.9

-13.6

Billing Days Impact

0.1

1.3

-1.0

-1.6

-0.5

0.6

Currency Impact

-3.0

-0.4

1.6

0.1

1.2

3.6

As Adjusted

-9.8

-10.0

-11.6

-11.7

-10.2

-9.4

 

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Products That Count Announces the Winners of the 2026 CPO Awards, Honoring the Product Leaders Redefining Their Craft in the AI Era

Published

2 minutes ago

on

May 1, 2026

By

The annual Awards recognize Chief Product Officers whose scope, influence, and impact have expanded dramatically as AI reshapes every organization.

SAN FRANCISCO, May 1, 2026 /PRNewswire-PRWeb/ — Products That Count, the world’s largest nonprofit community of product managers with over 600,000 members, today announced the winners of the 2026 CPO Awards. The Awards, produced in partnership with Mighty Capital, celebrate the Chief Product Officers whose leadership is shaping how products are built, shipped, and scaled in a moment of unprecedented change.

“The CPO mandate has fundamentally expanded,” said SC Moatti, Founder and Managing Partner of Products That Count. “Our winners this year are setting the standard for what the role becomes when AI is woven into every layer of the business. They are the builders other builders learn from.”

The role of the Chief Product Officer has never been broader. Today’s CPOs are architecting the systems, teams, and decisions that determine whether their companies win in the AI era.

The 2026 CPO Award Winners, by category:

President / CEO: Former CPOs who have elevated to the top role.

Eglae Recchia, CPO, Keyway

Maria Thomas, CEO (promoted from CPO), Rebrandly

Nabil Bukhari, President, Extreme Networks

Shiven Ramji, President & Chief Product Officer, Okta

Investor Mindset: Treating product like a portfolio of bets, with M&A as a strategic lever.

Achuth Rao, CPO, New York Life Insurance Company

Andrew Tsao, CPO & Analytics Officer, Audible

Dane Glasgow, CPO, Paramount/Skydance

Diana Benli, Chief Product Officer, Cognizant

Diego Dugatkin, Chief Product Officer, Box

Mike Bidgoli, CPO & CTO, Tubi

Vasu Murthy, CPO, Cohesity

Vrushali Paunikar, CPO, Carta

Ambrish Verma, Chief Product Officer, Ingram Micro

Enterprise Scale: Operating in complexity. Not speed alone, but transformation at scale.

Carla Guzzetti, Chief Product Officer, Cloud Applications, Extreme Networks

Eddie Garcia, Chief Product Officer, eBay

Gautam Shah, Chief Product Officer, Carelon

Ghazal Badiozamani, SVP of Product Management, Cengage

Kelli Fielding, Chief Product Officer, Europe, TransUnion

Mikhail Vaysbukh, Chief Product Officer, Elsevier

Monica Ugwi, GM, Copilot + Agents for Manufacturing & Mobility, formerly Microsoft

Randall Hounsell, SVP Connected Living Product, Comcast

Rita Khan, Chief Consumer & Digital Officer, formerly Optum

Ryan Bergstrom, Chief Product Officer, Paychex

Tim Simmons, Chief Product Officer, formerly Walmart International

Tina Tarquinio, Chief Product Officer, IBM Z and LinuxONE, IBM

Todd Garner, CPO, Sam’s Club

Trey Courtney, Global Chief Product & Partnerships Officer, Mood Media

Wyatt Jenkins, SVP Product, Intuit

Shayani Roy, SVP Product Management and Design, OpenTable

Scale Up: Growth-stage leaders putting the scale in place.

Aaron Seevers, Chief Product Officer, Noom

Avijit Sinha, SVP Corporate Development, EDB

Hannah Park, Chief Product Officer, Planned Parenthood

Joe Futty, CPO & CTO, Pipedrive

Jonathan Shottan, Chief Product Officer, Tonal

Kimberly Bloomston, CPO, 6sense

Kousthub Raghavan, Chief Product & Digital Officer, CLEAR

Natalia Williams, Chief Product Officer, Qonto

Nikita Miller, Chief Product Officer, Perk

Nilesh Khandelwal, Chief Product Officer, Rakuten Rewards

Paul Burke, CPO, Reveleer

Randhir Vieira, CPO, formerly Healthify

Renn Turiano, CPO, Gannett – USA Today Network

Sarah Turrin, CPO, Color

Emerging: On an amazing trajectory, regardless of tenure.

Adam Kelsey, EVP, Product Management, SignalWire

Apurva Garware, SVP, Head of Product, Invisible Technologies

Chai Atreya, Chief Product Officer, ActiveCampaign

Jack Brody, Chief Product Officer, Suno

John Barrus, VP of Product Management, Niobium

Kevin Swint, former Co-Founder & CPO, RemixAI

Nirmal Kumar, CPO, Aliaswire

Rafael Flores, Chief Product Officer, Treasure Data.ai

Sarah Jacob Singh, CPO & CTO, Medbridge

Sarosh Waghmar, CPO & Co-Founder, Spotnana

Vanessa Davis, CPO, LegalOn

Vikas Seth, CPO, ARIS

Platform: Multiplying impact beyond their own product by leveraging the ecosystem at scale.

Arnab Bose, CPO, Asana

Kishan Chetan, EVP & GM, Agentforce Service Cloud, Salesforce

Shardul Vikram, Chief Product Officer, SAP Application AI, SAP

Tom Occhino, Chief Product Officer, Vercel

Rohit Badlaney, CPO & General Manager, IBM Cloud Platform, IBM

Terre Layton, former CPO, BetterHealth

B.J. Boyle, Chief Product Officer, MacroHealth

Winners were selected by an Independent Advisory Council of seasoned product executives based on impact and leadership.

ABOUT PRODUCTS THAT COUNT

Products That Count is the world’s largest nonprofit community, engaging 600,000+ product managers and Chief Product Officers (CPOs) united by a mission: to empower everyone to build products that truly count. In a world flooded with products, only a few ignite passion, deliver value at scale, and transform lives. Behind those exceptional products are visionary CPOs and high-performing product teams driving innovation at the most bleeding-edge companies. We recognize these trailblazers through our coveted Awards, accelerate careers from PM to the C-suite and beyond through daily best practices, and serve as the trusted advisor to nearly all Fortune 1000 CPOs. Our Corporate Alliance includes Walmart, Ford, Cisco, Johnson & Johnson, Amplitude, and more. The most admired product leaders across industries serve on our Advisory Council, guiding the future of product leadership. Together, we’re shaping a future where every product counts. Learn more at productsthatcount.org

ABOUT MIGHTY CAPITAL

Mighty Capital is the VC firm that leverages the Product Alpha Effect, a data-backed framework for outperformance that proves great products drive great businesses. Founded in 2018 by SC Moatti, a product visionary and former Meta product leader, and Jennifer Vancini, a veteran of tech investing and M&A, we bring a differentiated edge to venture. Through Moatti’s 600,000-strong Products That Count network of product leaders, we see where the world is going before others do. That proprietary signal gives us an advantage in sourcing, diligence, and post-investment value creation. Our portfolio speaks for itself: 1 in 5 companies is a category leader like Amplitude (NASDAQ:AMPL), Groq, and Netskope (NASDAQ:NTSK). Founders consistently call us the most value-add investor on their cap table, and use our global product ecosystem as a marketplace to accelerate time to revenue, scale, and exit. Anchored by GCM Grosvenor, we’re deploying Fund III with both prior funds in top decile DPI and TVPI, more than $20B in value created, and 6 IPOs to date. Learn more at Mighty.Capital.

Media Contact

Emma Shirlin, Products That Count, 1 8287020154, emmashirlin@productsthatcount.com

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SOURCE Products That Count

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Thomson Reuters Announces Cash Distribution Per Share and Share Consolidation Ratio for Return of Capital and Share Consolidation Transactions

Published

2 minutes ago

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May 1, 2026

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Participating shareholders to receive cash distribution of US$1.435518 per common share

Shares to begin trading on a post-consolidated basis on May 4, 2026

TORONTO, May 1, 2026 /PRNewswire/ — Thomson Reuters (TSX/Nasdaq: TRI) today announced the cash distribution per share and the share consolidation ratio for its return of capital and share consolidation transactions, which have received the requisite approvals and will be effective at 3:01 a.m. (Toronto time) on May 4, 2026. The company’s common shares will begin trading on the Toronto Stock Exchange (TSX) and the Nasdaq on a post-consolidated basis when the markets open on May 4, 2026. The company’s trading symbol will remain “TRI” on both exchanges. The new CUSIP number for the post-consolidated common shares is 884903881 and the new ISIN number is CA8849038812.

The return of capital and share consolidation transactions consist of a distribution of US$1.435518 per common share (US$605 million in the aggregate) and a consolidation of the company’s outstanding common shares (or “reverse stock split”) at a ratio of 1 pre-consolidated share for 0.984560 post-consolidated shares. The share consolidation is proportional to the special cash distribution and the share consolidation ratio was based on the volume weighted average trading price of the shares on the Nasdaq for the five trading day period which ended today.Eligible shareholders who duly exercised their right to opt out of the return of capital will not receive the cash distribution. Each opting-out shareholder will still participate in the transactions through a share exchange and the share consolidation, but will continue to hold the same number of shares that it currently holds. Such opting-out shareholders will realize a proportionate increase in their equity and voting interests in the company by virtue of the consolidation of the participating shares under the share consolidation.

As promptly as practicable after the transactions are effective, Computershare Investor Services Inc., the company’s depositary for the transactions, will deliver cash distribution amounts to registered participating shareholders, subject to the terms and conditions of the transactions. The effects of the share consolidation will be reflected in the company’s share register. Beneficial or non-registered shareholders participating in the return of capital will receive cash distributions from their intermediary and the effects of the share consolidation will be recorded in their accounts.

Fractional shares will not be issued as part of the return of capital and share consolidation transactions and shareholders will receive the value of any fractional shares in cash, subject to certain exceptions described in the company’s management proxy circular dated March 13, 2026 (the “Circular”).

The Canadian and U.S. tax consequences of the return of capital and share consolidation transactions are complex. Shareholders are encouraged to review the Circular and related materials carefully and to consult their financial, tax and legal advisors.

Further details of the return of capital and share consolidation transactions are described in the Circular and related materials, which are available on www.thomsonreuters.com/2026specialmeeting. The return of capital and share consolidation documents were previously filed with the Canadian securities regulatory authorities on SEDAR+ and are available at www.sedarplus.ca. The documents were also furnished to the U.S. Securities and Exchange Commission through EDGAR and are available at www.sec.gov.  

About Thomson Reuters

Thomson Reuters (TSX/Nasdaq: TRI) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, audit, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth and transparency. Reuters, part of Thomson Reuters, is the world’s leading provider of trusted journalism and news. For more information, visit thomsonreuters.com.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this news release are forward-looking within the meaning of applicable Canadian and U.S. securities laws, including the Private Securities Litigation Reform Act of 1995, including statements relating to the completion of the return of capital and share consolidation transactions and the anticipated tax treatment for shareholders participating in the return of capital and those opting out. These forward-looking statements are based on certain assumptions and reflect our company’s current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the risk factors discussed in materials that Thomson Reuters from time to time files with, or furnishes to, the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. There is no assurance that the return of capital and share consolidation transactions will be completed or that other events described in any forward-looking statement will materialize. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.

CONTACTS
MEDIA
Zoe Zanettos
Director, Corporate Affairs
+1 647 202 8948
zoe.zanettos@thomsonreuters.com 

INVESTORS
Gary E. Bisbee, CFA
Head of Investor Relations 
+1 646 540 3249
gary.bisbee@thomsonreuters.com 

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SOURCE Thomson Reuters

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Lockheed Martin Awarded U.S. Space Force Space-Based Interceptor Contracts to Meet Layered Missile Defense Demand

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2 minutes ago

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May 1, 2026

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HUNTSVILLE, Ala., May 1, 2026 /PRNewswire/ — Lockheed Martin (NYSE: LMT) has been selected by U.S. Space Force Space Systems Command to develop capabilities supporting the Space-Based Interceptor (SBI) program. These agreements mark progress toward fielding core elements of an integrated, layered homeland defense solution. 

This work will accelerate development, testing and integration of SBI capabilities, delivering an early engagement layer that expands coverage, enhances survivability and strengthens deterrence against emerging missile threats.

Lockheed Martin’s SBI system leverages our experience with combat-proven interceptors like THAAD and PAC-3 as well as the Next Generation Interceptor, hypersonic strike systems and missile warning and tracking systems.

The result is an early, additional layer to the multi-domain, layered shield that protects the homeland and critical infrastructure from evolving missile threats.

“Lockheed Martin is already making next generation integrated air and missile defense a reality with our proven capabilities and the expertise across our entire network,” said Robert Lightfoot, Lockheed Martin Space president. “We’re investing in technology and infrastructure, while bringing together the strength of the full industrial base, to deliver advanced capabilities like SBI faster and are committed to delivering an integrated demonstration by 2028.” 

About Lockheed Martin

Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at www.Lockheedmartin.com.

The views and conclusions contained in this document are those of the authors and should not be interpreted as representing the official policies, either expressed or implied, of the U.S. Government.

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SOURCE Lockheed Martin

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