KELLY SERVICES INC — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
Kelly Services reported Q2 2026 revenue of $1.038 billion, down 5.8% YoY, but underlying revenue decline improved to −0.6% after excluding discrete impacts ($5.2% from U.S. federal contractor demand loss and three large ETM customer losses). Adjusted EBITDA of $31.1 million (margin 3.0%, up 110 bps QoQ) and adjusted EPS of $0.37 (vs. $0.54 prior year). Company raised FY2026 full-year revenue outlook to low-to-mid single-digit decline (from prior mid-to-high range) and maintained adjusted EBITDA margin guidance of modest YoY growth. Declared quarterly dividend of $0.075/share.
Why this rating
Q2 beat guidance on revenue and EBITDA; underlying trends improving (−0.6% vs. −3.3% prior Q). But absolute profitability and YoY earnings fell sharply (−40% net, −34.8% adj. EBITDA YTD). Revenue raise modest. At ~$364M market cap, ~$75M adj. EBITDA H1 annualized is material but stabilization narrative supports valuation; not transformational.
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