Company: KELYB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000055135-25-000080
Chunk: 40

Company: KELLY SERVICES INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 offset by the impact of weather-related school closures early in the year.

35 

Operating Results By Segment (continued)

(in millions)

Third QuarterSeptember Year-to-Date 20252024Change20252024ChangeGross Profit:Enterprise Talent Management$96.7 $114.4 (15.4)%$308.7 $329.6 (6.3)%Science, Engineering & Technology77.2 87.6 (11.8)241.9 212.8 13.7 Education20.1 19.7 2.0 105.4 98.7 6.8 Consolidated Total$194.0 $221.7 (12.5)%$656.0 $641.1 2.3 %Gross Profit Rate:Enterprise Talent Management19.8 %20.4 %(0.6)pts.20.0 %20.3 %(0.3)pts.Science, Engineering & Technology25.3 26.1 (0.8)25.6 25.6 — Education14.1 13.9 0.2 14.7 14.5 0.2 Consolidated Total20.8 %21.4 %(0.6)pts.20.5 %20.4 %0.1 pts.

Third Quarter Results

Gross profit for ETM decreased on lower revenue volume.  Factors impacting the gross profit rate included the impact of higher employee-related costs, partially offset by changes in business mix, which reduced the gross profit rate by 60 basis points.

The SET gross profit decreased on lower revenue volume.  Factors impacting the gross profit rate included the impact of changes in business mix and higher employee-related costs, which reduced the gross profit rate by 70 basis points and a 10 basis point decrease as a result of lower permanent placement fees.

Gross profit for the Education segment increased on higher revenue volume.  Factors impacting the gross profit rate included the impact of lower employee-related costs, which increased the gross profit rate by 10 basis points and a 10 basis point increase as a result of higher permanent placement fees.

September Year-to-Date Results

Gross profit for the ETM segment decreased on lower revenue volume.  Factors impacting the gross profit rate included the impact of changes in business mix and higher employee-related costs, which reduced the gross profit rate by