Company: KELYB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000055135-25-000052
Chunk: 41

Company: KELLY SERVICES INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 Year-to-Date 20252024% Change20252024% ChangeBusiness Unit Profit (Loss)Enterprise Talent Management$11.1 $15.5 (28.5)%$17.9 $23.6 (24.0)%Science, Engineering & Technology19.3 18.9 2.1 32.7 33.1 (1.3)Education13.6 12.7 7.1 32.9 30.8 6.6 Business Unit Profit (Loss)44.0 47.1 (6.6)83.5 87.5 (4.6)Corporate(13.3)(12.4)6.7 (29.2)(27.4)6.3 Asset impairment charge— (5.5)NM— (5.5)NMGain (loss) on sale of EMEA staffing operations4.0 (10.0)139.3 4.0 1.6 139.3 Gain (loss) on sale of assets— 5.5 NM— 5.5 NMDepreciation and amortization(12.5)(12.5)(0.1)(25.3)(22.7)11.4 Consolidated Total Earnings from Operations$22.2 $12.2 81.0 %$33.0 $39.0 (15.5)%

Second Quarter Results

ETM reported profit decreased versus the prior year primarily due to lower revenue and gross profit, partially offset by lower SG&A expenses.  These results include the impact from the addition of the Sevenstep business. 

SET reported profit increased versus the prior year primarily due to the acquisition of MRP.  Excluding the acquisition, the decrease in profit was due primarily to lower revenue and gross profit, partially offset by lower SG&A expenses.

Education reported profit increased versus the prior year primarily driven by higher revenue and gross profit, partially offset by an increase in SG&A expenses.

Corporate expenses increased over the prior year primarily driven by integration and realignment charges in the second quarter of 2025.

June Year-to-Date Results

ETM reported profit decreased versus the prior year primarily due to lower revenue, gross profit and higher SG&A expenses.  These results include the impact from the addition of the Sevenstep business. 

SET reported profit decreased versus the prior