Company: KELYB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000055135-25-000080
Chunk: 117

Company: KELLY SERVICES INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 117
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, partially offset by the addition of the Sevenstep business and integration and realignment charges.  Excluding the acquisition, expenses decreased 4.4% from the prior year.

The increase in SET SG&A expenses excluding depreciation and amortization was primarily due to the acquisition of MRP.  Excluding the acquisition, expenses decreased 4.4% from the prior year.

The increase in Education SG&A expenses excluding depreciation and amortization primarily related to increased costs to support year-over-year revenue growth.

The decrease in Corporate expenses was primarily driven by lower employee-related costs and transaction costs, partially offset by an increase in integration and realignment charges in the first nine months of 2025 as compared to prior year.

37 

Operating Results By Segment (continued)

(in millions)

Third QuarterSeptember Year-to-Date 20252024% Change20252024% ChangeBusiness Unit Profit (Loss)Enterprise Talent Management$9.1 $18.0 (48.9)%$27.0 $41.6 (34.8)%Science, Engineering & Technology(82.4)19.5 NM(49.7)52.6 NMEducation(4.4)(3.3)(32.7)28.5 27.5 3.5 Business Unit Profit (Loss)(77.7)34.2 NM5.8 121.7 (95.3)Corporate(12.1)(17.0)(28.3)(41.3)(44.4)(7.0)Asset impairment charge— — NM— (5.5)NMGain (loss) on sale of EMEA staffing operations0.3 — NM4.3 1.6 (169.4)Gain (loss) on sale of assets— (0.1)NM— 5.4 NMDepreciation and amortization(12.6)(14.5)(12.9)(37.9)(37.2)1.9 Consolidated Total Earnings (loss) from Operations$(102.1)$2.6 NM%$(69.1)$41.6 NM%

Third 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.  

SET reported profit (loss) decreased versus the prior year primarily due to the goodwill impairment charge.  Excluding the goodwill impairment charge