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Kforce Inc (KFRC)
NYSE:KFRC
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Earnings Data
Report Date
Feb 10, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.59Last Year’s EPS
$0.82Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 28, 2024
|% Change Since: 1.59%
|Next Earnings Date:Feb 10, 2025
Earnings Call Sentiment|Neutral
Kforce reported stable performance in its Technology business and exceeded financial guidance for Q3 2024. Strategic investments, such as the Pune development center, indicate long-term growth prospects. However, the overall revenue decline and challenges in the FA business, combined with economic uncertainties, present areas of concern.Company Guidance
During the Kforce Q3 2024 earnings call, several key metrics were highlighted in the company's guidance. Total revenues for the quarter were reported as $353.3 million, which exceeded the midpoint of expectations, and earnings per share (EPS) surpassed the top end of the guidance at $0.75. The Technology business showed stability, with revenues down 0.6% sequentially and 5.1% year-over-year on a billing day basis. The average bill rate in the Technology segment remained stable at $90, with Flex margins increasing by 20 basis points sequentially to 26.1%. The company also announced the establishment of a development center in Pune, India, expected to be operational in January 2025. Looking ahead to Q4, Kforce projects revenues between $337 million and $345 million, and EPS in the range of $0.56 to $0.64, accounting for a $0.02 negative impact from a $500,000 donation for hurricane recovery efforts. These metrics reflect a cautious but optimistic outlook amidst ongoing economic uncertainties.Charitable Contributions for Hurricane Recovery
Kforce announced a donation of $500,000 to aid recovery efforts following the impact of Hurricanes Helene and Milton in the Tampa Bay area and North Carolina.
Exceeded Financial Guidance
Revenues exceeded the midpoint of expectations and earnings per share surpassed the top end of guidance for Q3 2024.
Establishment of Pune Development Center
Kforce is setting up a development center in Pune, India, expected to be operational in January 2025, enhancing service offerings to clients with offshore capabilities.
Stable Technology Business
The Technology business remained stable with consistent demand for high-end skill sets, maintaining an average bill rate of $90.
Improved Flex Margins
Flex margins in the Technology business increased by 20 basis points sequentially and 60 basis points year-over-year.
Strong Cash Flow and Returns to Shareholders
Operating cash flows were approximately $31 million, with over $17 million returned to shareholders through dividends and share repurchases in Q3.
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KFRC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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KFRC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 28, 2024 | $55.33 | $56.70 | +2.48% |
| Jul 29, 2024 | $66.76 | $69.35 | +3.88% |
| Apr 29, 2024 | $63.05 | $60.62 | -3.85% |
| Feb 05, 2024 | $66.89 | $66.24 | -0.97% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Kforce Inc (KFRC) report earnings?
Kforce Inc (KFRC) is schdueled to report earning on Feb 10, 2025, TBA Not Confirmed.
What is Kforce Inc (KFRC) earnings time?
Kforce Inc (KFRC) earnings time is at Feb 10, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KFRC EPS forecast?
KFRC EPS forecast for the fiscal quarter 2024 (Q4) is $0.59.
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