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Kelly Services Q3 Results Miss Estimates

Specialty talent solutions provider Kelly Services, Inc. (KELYA,KELYB) reported Thursday that its net income for the second quarter plunged to $2.2 million or $0.06 per share from $24.0 million or $0.60 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.45 per share, compared to $0.49 per share in the year-ago quarter.

Revenue from services for the quarter edged up 0.7 percent to $1.27 billion from $1.26 billion in the same quarter last year. It was up 2.7 percent in constant currency.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.51 per share on revenues of $1.28 billion for the quarter. Analysts' estimates typically exclude special items.

Kelly also reported that its board of directors declared a dividend of $0.075 per share, payable on September 7, 2022 to stockholders of record as of the close of business on August 24, 2022.

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