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View All NewsRobert Half Q2 revenue down; US revenue falls while international rises
Second-quarter revenue at professional staffing firm Robert Half International Inc. (NYSE: RHI) fell 0.9% on a same-billing day, constant-currency basis.
US temporary staffing and consulting revenue fell 3.5% at the Menlo Park, Calif.-based staffing provider, and permanent placement staffing edged down 1.6%. However, international temporary and consulting staffing revenue rose 6.4% in the second quarter and international permanent placement revenue rose 8.7%.
| (US$ thousands) | Q2 2017 | Q2 2016 | % change | Q2 2017 constant currency (same billing days) |
| Net service revenue | $1,308,428 | $1,344,160 | -2.7% | -0.9% |
| Gross margin | $538,438 | $556,993 | -3.3% | |
| Gross margin percentage | 41.2% | 41.4% | ||
| Net income | $80,316 | $91,616 | -12.3% |
Quote
“Second-quarter revenues for the company were strongest internationally, but we also were pleased with the quarter-over-quarter, sequential performance of our domestic staffing operations,” said Chairman and CEO Harold Messmer Jr. “Every US staffing line of business reported higher sequential revenue growth this year than the same period a year ago.”
Revenue by segment
| (US$ thousands) | Q2 2017 | Q2 2016 | % change | Q2 2017 constant currency (same billing days) |
| Accountemps | $439,734 | $460,242 | -4.5% | -2.8% |
| OfficeTeam | $244,369 | $246,391 | -0.8% | 0.8% |
| Robert Half Technology | $157,832 | $168,605 | -6.4% | -5.1% |
| Robert Half Management Resources | $156,361 | $156,845 | -0.3% | 1.9% |
| Robert Half Finance and Accounting | $112,653 | $113,439 | -0.7% | -- |
| Protiviti | $197,479 | $198,638 | -0.6% | 1.1% |
Revenue growth by geography and temp/perm
| Year-over-year revenue growth rates (constant currency, same billing day) | ||||||
| 2016 | 2017 | |||||
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | |
| Global | ||||||
| Accountemps | 8.3% | 6.5% | 4.9% | -0.8% | -3.3% | -2.8% |
| OfficeTeam | 3.7% | 0.6% | -1.3% | -3.0% | -2.6% | 0.8% |
| Robert Half Technology | 6.2% | 0.9% | -1.4% | -3.4% | -5.2% | -5.1% |
| Robert Half Management Resources | 7.7% | 9.4% | 3.7% | -1.3% | 0.8% | 1.9% |
| Temporary and consultant staffing | 6.7% | 4.5% | 2.1% | -1.8% | -2.8% | -1.6% |
| Permanent placement staffing | 8.6% | 2.1% | -4.5% | -4.9% | -3.1% | 1.4% |
| United States | ||||||
| Temporary and consultant staffing | 7.3% | 3.5% | 0.6% | -3.5% | -5.6% | -3.5% |
| Permanent placement staffing | 11.6% | 2.7% | -5.0% | -8.1% | -7.6% | -1.6% |
| International | ||||||
| Temporary and consultant staffing | 4.5% | 8.9% | 8.8% | 5.3% | 9.4% | 6.4% |
| Permanent placement staffing | 2.0% | 0.8% | -3.4% | 2.9% | 8.4% | 8.7% |
Share price and market cap
Shares in Robert Half fell 4.54% to $45.63 in early afternoon trading today, and the company had a market cap of $5.80 billion, according to Yahoo.