Robert Half International Inc. (RHI), a staffing and risk consulting service provider, Tuesday said its second-quarter profit declined sharply from the same quarter a year ago, primarily hurt by a slump in revenues related to the weakening in labor markets. Second quarter earnings, however, were in line with Street estimates.
The Menlo Park, California based company's second-quarter net income decreased to $5.4 million from $74.6 million in the same quarter a year ago. Net income available to common common stock holders declined to $4.801 million or $0.03 per share from $72.293 million or $0.47 per share in the same quarter a year ago.
On average, fifteen analysts polled by Thomson Reuters expected the company to earn $0.03 per share for the quarter. Analysts estimates typically excludes special items such as one-time charges or gains.
Revenues for the second quarter decreased to $749.9 million from $1.22 billion in the same quarter last year and came in below the Street view of $755.37 million.
Operating income for the second quarter plummeted to $10.050 million from $123.231 million in the same quarter last year, hurt primarily by decreases in temporary and consultant staffing, permanent placement staffing and risk consulting and internal audit services.
The company stated that labor markets showed continuing weakness during the second quarter, and in June, the U.S. unemployment rate reached a 26-year high of 9.5%.
For the six months period, net income plunged to $14.2 million or $0.09 per share from $145.4 million or $0.91 per share in the same quarter a year ago. Revenues for the period also declined to $1.57 billion from $2.45 billion in the same quarter last year.
RHI closed Tuesday's trading at $23.44, up $0.37 or 1.60%, on a volume of 2.163 million shares on the NYSE.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.