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Robert Half's (RHI) Q4 Earnings Beat Estimates, Increase Y/Y
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Robert Half International Inc. (RHI - Free Report) delivered impressive fourth-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate.
Quarterly earnings of $1.51 per share beat the consensus mark by 5.6% and rose 79.8% year over year. Revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis.
The company’s shares have appreciated 64.4% in the past year compared with 35.4% growth of the industry it belongs to.
Image Source: Zacks Investment Research
Staffing and Protiviti Revenues Rise
Global Staffing revenues of $1.77 billion increased 36% year over year on an ad-adjusted basis. U.S. staffing revenues of $992 million were up 37% on an as-adjusted basis. Non-U.S. staffing revenues increased 32% on an adjusted basis to $283 million. Currency exchange rate movements dented staffing revenues by $5 million.
The quarter had 61.7 billing days, unchanged year over year. At present, Robert Half operates 321 staffing locations worldwide with 85 locations situated in 17 countries outside the United States.
Robert Half International Inc. Price, Consensus and EPS Surprise
Protiviti revenues came in at $495 million, up 37% on an as-adjusted basis. U.S. Protiviti revenues of increased 32% on an adjusted basis. Non-U.S. Protiviti revenues increased 61% on an as-adjusted basis.
Margins Expand
Adjusted gross profit in the quarter was $744.1 million, up 44.7% year over year. The adjusted gross profit margin of 39.8% improved 130 basis points year over year.
Key Balance Sheet and Cash Flow Figures
Robert Half ended the quarter with a cash and cash equivalent balance of $619 million compared with $633.7 million witnessed at the end of the previous quarter.
The company generated $145 million of cash from operations while capital expenditures were $11.81 million. It paid out $42 million in dividends and repurchased shares worth $61 million in the reported quarter.
Q1 Guidance
For first-quarter 2022, Robert Half expects revenues in the range of $1.755-$1.835 billion, the midpoint ($1.795 billion) of which is higher than the current Zacks Consensus Estimate of $1.69 billion.
Earnings per share (EPS) are expected between $1.39 and $1.49, higher than the Zacks Consensus Estimate of $1.27.
Automatic Data Processing (ADP - Free Report) recently reported better-than-expected second-quarter fiscal 2022 results. Adjusted EPS of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
Total revenues of $4.03 billion beat the consensus mark by 1.1% and increased 9% year over year. ADP currently carries a Zacks Rank #2 (Buy).
IHS Markit Ltd. reported impressive fourth-quarter fiscal 2021 results, with earnings and revenues beating the Zacks Consensus Estimate. Adjusted EPS (excluding 98 cents from non-recurring items) of 85 cents beat the consensus mark by 1.2% and increased 18.1% on a year-over-year basis.
Total revenues came in at $1.18 billion, surpassing the consensus mark by 3.2% and increasing 6.2% from the year-ago quarter’s levels on a reported basis and 10% organically. INFO currently carries a Zacks Rank #3.
Rollins, Inc. (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same. Adjusted earnings of 14 cents per share meet the Zacks Consensus Estimate and increased 7.7% year over year.
Revenues of $600.3 million beat the consensus mark by 3.3% and rose 11.9% year over year. ROL currently carries a Zacks Rank #2.
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Robert Half's (RHI) Q4 Earnings Beat Estimates, Increase Y/Y
Robert Half International Inc. (RHI - Free Report) delivered impressive fourth-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate.
Quarterly earnings of $1.51 per share beat the consensus mark by 5.6% and rose 79.8% year over year. Revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis.
The company’s shares have appreciated 64.4% in the past year compared with 35.4% growth of the industry it belongs to.
Staffing and Protiviti Revenues Rise
Global Staffing revenues of $1.77 billion increased 36% year over year on an ad-adjusted basis. U.S. staffing revenues of $992 million were up 37% on an as-adjusted basis. Non-U.S. staffing revenues increased 32% on an adjusted basis to $283 million. Currency exchange rate movements dented staffing revenues by $5 million.
The quarter had 61.7 billing days, unchanged year over year. At present, Robert Half operates 321 staffing locations worldwide with 85 locations situated in 17 countries outside the United States.
Robert Half International Inc. Price, Consensus and EPS Surprise
Robert Half International Inc. price-consensus-eps-surprise-chart | Robert Half International Inc. Quote
Protiviti revenues came in at $495 million, up 37% on an as-adjusted basis. U.S. Protiviti revenues of increased 32% on an adjusted basis. Non-U.S. Protiviti revenues increased 61% on an as-adjusted basis.
Margins Expand
Adjusted gross profit in the quarter was $744.1 million, up 44.7% year over year. The adjusted gross profit margin of 39.8% improved 130 basis points year over year.
Key Balance Sheet and Cash Flow Figures
Robert Half ended the quarter with a cash and cash equivalent balance of $619 million compared with $633.7 million witnessed at the end of the previous quarter.
The company generated $145 million of cash from operations while capital expenditures were $11.81 million. It paid out $42 million in dividends and repurchased shares worth $61 million in the reported quarter.
Q1 Guidance
For first-quarter 2022, Robert Half expects revenues in the range of $1.755-$1.835 billion, the midpoint ($1.795 billion) of which is higher than the current Zacks Consensus Estimate of $1.69 billion.
Earnings per share (EPS) are expected between $1.39 and $1.49, higher than the Zacks Consensus Estimate of $1.27.
Currently, Robert Half carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Sectorial Snapshot
Automatic Data Processing (ADP - Free Report) recently reported better-than-expected second-quarter fiscal 2022 results. Adjusted EPS of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
Total revenues of $4.03 billion beat the consensus mark by 1.1% and increased 9% year over year. ADP currently carries a Zacks Rank #2 (Buy).
IHS Markit Ltd. reported impressive fourth-quarter fiscal 2021 results, with earnings and revenues beating the Zacks Consensus Estimate. Adjusted EPS (excluding 98 cents from non-recurring items) of 85 cents beat the consensus mark by 1.2% and increased 18.1% on a year-over-year basis.
Total revenues came in at $1.18 billion, surpassing the consensus mark by 3.2% and increasing 6.2% from the year-ago quarter’s levels on a reported basis and 10% organically. INFO currently carries a Zacks Rank #3.
Rollins, Inc. (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same. Adjusted earnings of 14 cents per share meet the Zacks Consensus Estimate and increased 7.7% year over year.
Revenues of $600.3 million beat the consensus mark by 3.3% and rose 11.9% year over year. ROL currently carries a Zacks Rank #2.