Company: KELYB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000055135-25-000052
Chunk: 40

Company: KELLY SERVICES INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 (0.7)%$194.1 $191.6 1.3 %Science, Engineering & Technology63.1 48.9 29.0 132.0 92.1 43.3 Education25.5 24.2 5.6 52.4 48.2 9.0 Corporate expenses13.3 12.4 6.7 29.2 27.4 6.3 Consolidated Total$194.8 $179.0 8.8 %$407.7 $359.3 13.4 %

Second Quarter Results

The decrease in ETM SG&A expenses excluding depreciation and amortization was primarily due to lower employee-related costs, partially offset by increases from the addition of the Sevenstep business.  Excluding the acquisition, expenses decreased 3.2% from the prior year primarily due to lower employee-related costs as a result of expense management actions in response to lower revenue volume compared to the prior year, partially offset by integration and realignment charges.

The increase in SET SG&A expenses excluding depreciation and amortization was primarily due to the acquisition of MRP.  Excluding the acquisition, expenses decreased 1.6% primarily due to lower employee-related costs.

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

The increase in Corporate expenses was primarily driven by integration and realignment charges in the second quarter of 2025.

June Year-to-Date Results

The increase in ETM SG&A expenses excluding depreciation and amortization was primarily due to the addition of the Sevenstep business.  Excluding the acquisition, expenses decreased 1.9% from the prior year primarily due to lower employee-related costs as a result of expense management actions in response to lower revenue volume compared to the prior year, partially offset by integration and realignment charges.

The increase in SET SG&A expenses excluding depreciation and amortization was primarily due to the acquisition of MRP.  Excluding the acquisition, expenses decreased 0.8% from the prior year.

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

The increase in Corporate expenses was primarily driven by integration and realignment charges in the first six months of 2025.

37 

Operating Results By Segment (continued)

(Dollars in millions)

Second QuarterJune