Company: KELYB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000055135-25-000016
Chunk: 95

Company: KELLY SERVICES INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 95
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 by revenue from services) are measures used for understanding our ability to generate cash flow and for judging overall operating performance.  EBITDA measures are non-GAAP (Generally Accepted Accounting Principles) measures and are used to supplement measures in accordance with GAAP.  Our non-GAAP measures may be calculated differently from those provided by other companies, limiting their usefulness for comparison purposes.  Non-GAAP measures 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.

28 

Results of Operations

Total Company 

(Dollars in millions)

First Quarter 20252024% ChangeRevenue from services$1,164.9 $1,045.1 11.5 %Gross profit236.5 205.7 15.0 SG&A expenses excluding integration, realignment, and restructuring charges and depreciation and amortization202.2 178.0 13.6 Integration, realignment and restructuring charges10.7 2.3 361.1 Total SG&A expenses excluding depreciation and amortization212.9 180.3 18.1 Depreciation and amortization12.8 10.2 25.4 Total SG&A expenses225.7 190.5 18.5 Gain on sale of EMEA staffing operations— (11.6)NMEarnings from operations10.8 26.8 (59.8)Gain on forward contract— 1.2 NMOther income (expense), net(3.2)1.8 (271.3)Earnings before taxes7.6 29.8 (74.6)Income tax expense1.8 4.0 (54.7)Net earnings$5