Company: KELYB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000055135-25-000052
Chunk: 89

Company: KELLY SERVICES INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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 6.6 152.9 Total SG&A expenses excluding depreciation and amortization194.8 179.0 8.8 407.7 359.3 13.4 Depreciation and amortization12.5 12.5 (0.1)25.3 22.7 11.4 Total SG&A expenses207.3 191.5 8.2 433.0 382.0 13.3 (Gain) loss on sale of EMEA staffing operations(4.0)10.0 (139.3)(4.0)(1.6)(139.3)Gain on sale of assets— (5.5)NM— (5.5)NMAsset impairment charge— 5.5 NM— 5.5 NMEarnings from operations22.2 12.2 81.0 33.0 39.0 (15.5)Gain on forward contract— — NM— 1.2 NMOther income (expense), net(2.3)(6.5)65.0 (5.5)(4.7)(15.8)Earnings before taxes19.9 5.7 249.1 27.5 35.5 (22.6)Income tax expense0.9 1.1 (23.8)2.7 5.1 (48.0)Net earnings$19.0 $4.6 314.7 %$24.8 $30.4 (18.3)%Gross profit rate20.5 %20.2 %0.3 pts.20.4 %19.9 %0.5 pts.

Second Quarter Results

Revenue from services in the second quarter increased 4.2%, which was primarily driven by the acquisition of MRP in May 2024.  Excluding the impact from the acquisitions, revenue from services decreased 3.3% year-over-year with decreases in the ETM and SET segments partially offset by an increase in the Education segment.  Compared to the second quarter of 2024 and excluding the impact from the acquisitions, revenue from staffing services decreased 3.4% and revenue from outcome-based services decreased 5.5%.  Revenue from talent solutions increased 2.3% and permanent placement revenue decreased 8.