Company: KELYB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000055135-25-000080
Chunk: 35

Company: KELLY SERVICES INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.

Days sales outstanding (“DSO”) represents the number of days that sales remain unpaid for the period being reported.  DSO is calculated by dividing average net sales per day (based on a rolling three-month period) into trade accounts receivable, net of allowances at the period end.  Although secondary supplier revenues are recorded on a net basis (net of secondary supplier expense), secondary supplier revenue is included in the daily sales calculation in order to properly reflect the gross revenue amounts billed to the customer.

NM (not meaningful) in the following tables is used in place of percentage changes where: the change is in excess of 500%, the change involves a comparison between earnings and loss amounts, or the comparison amount is zero.

32 

Results of Operations

Total Company 

(in millions)

Third QuarterSeptember Year-to-Date  20252024% Change20252024% ChangeRevenue from services$935.0 $1,038.1 (9.9)%$3,201.7 $3,140.7 1.9 %Gross profit194.0 221.7 (12.5)656.0 641.1 2.3 SG&A expenses excluding integration, realignment, and restructuring charges and depreciation and amortization178.7 198.6 (10.0)569.7 551.3 3.3 Integration, realignment and restructuring charges3.1 5.9 (45.7)19.8 12.5 58.9 Total SG&A expenses excluding depreciation and amortization181.8 204.5 (11.1)589.5 563.8 4.6 Depreciation and amortization12.6 14.5 (12.9)37.9 37.2 1.9 Total SG&A expenses194.4 219.0 (11.2)627.4 601.0 4.4 Goodwill impairment charge102.0 — NM102.0 — NM(Gain) loss on sale of EMEA staffing operations(0.3)— NM(4.3)(1.6)(169.4)(Gain) loss on sale of assets— 0.1 NM— (5.4)NMAsset impairment charge— — NM