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LONDON, UK / ACCESSWIRE / February 12, 2018 / Active-Investors.com has just released a free earnings report on Robert Half International Inc. (NYSE: RHI) ("Robert Half"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=RHI. The Company posted its fourth quarter fiscal 2017 (Q4 FY17) financial results on January 30, 2018. The leading staffing and risk consulting services providers' earnings and revenues surpassed market expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Robert Half International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=RHI
Earnings Highlights and Summary
During the fourth quarter of the fiscal year 2017, Robert Half posted net sales of $1.35 billion compared to $1.27 billion in Q4 FY16, reflecting a growth of 6.42%, attributed to the growth in its staffing operations and Protiviti. The Company's revenue numbers beat analysts' estimates of $1.31 billion. For the full fiscal year 2017, the Company's revenues were $5.27 billion, increasing 0.31% compared to $5.25 billion in the previous fiscal year.
The Company's gross profit was $553.15 million in Q4 FY17 compared to $519.20 million in Q4 FY16, increasing 6.54% on a y-o-y basis. Robert Half's selling, general, and administrative expenses (SG&A) amounted to $424.38 million in the reported quarter compared to $394.51 million in the year ago same period, increasing 7.57% on a y-o-y basis. Robert Half's operating income was $128.76 million in Q4 FY17 compared to $124.70 million in Q4 FY16, increasing 3.26% on a y-o-y basis. For FY17, the Company's operating income was $517.28 million compared to $554.46 million in FY16, decreasing 6.71%.
Robert Half's net income was $47.05 million in the reported quarter compared to $77.79 million in Q4 FY16, decreasing 39.52%. The Company's earnings per share (EPS) were $0.38 in Q4 FY17 compared to of $0.61 in the fourth quarter of the previous fiscal year, decreasing 37.70% on a y-o-y basis. The decline was attributed to the recent enactment of the Tax Cuts and Jobs Act 2017 (TCJA), including a $34.00 million charge related to a provision of income taxes. Robert Half's adjusted net income was $80.78 million while adjusted earnings were $0.65 per share in the reported quarter. The adjusted earnings numbers beat analysts' estimates of $0.63.
For FY17, the Company's net income was $324.32 million while adjusted EPS was $2.60.
Segment Details
Robert Half has three business segments, namely: (i) Temporary and Consultant Staffing segment, (ii) Permanent Placement Staffing segment, and (iii) Risk Consulting and Internal Audit Services segment.
The Temporary and Consultant Staffing segment reported a gross margin of $377.56 million in Q4 FY17, compared to $367.96 million in Q4 FY16, reflecting a growth of 2.61% versus the year ago comparable period. The segment's operating income was $84.54 million in the reported quarter compared to $90.90 million in Q4 FY16, decreasing 7.00%.
The Permanent Placement Staffing segment posted a gross margin of $111.37 million in Q4 FY17 compared to $94.30 million in Q4 FY16, increasing 18.10% on a y-o-y basis. The segment's operating income was $18.38 million in the reported quarter compared to $13.64 million in Q4 FY16, increasing 34.78%.
The Risk Consulting and Internal Audit Services segment posted a gross margin of $64.22 million in Q4 FY17, compared to $56.94 million in Q4 FY16, increasing 12.79% on a y-o-y basis. The segment's operating income was $25.85 million in the reported quarter compared to $20.16 million in Q4 FY16, increasing 28.21%.
Cash Matters
As on December 31, 2017, Robert Half had cash and cash equivalents of $294.75 million compared to $260.20 million as on December 31, 2016. The Company's cash inflow from operating activities was $65.00 million in the reported quarter.
The Board of Directors of Robert Half had declared a regular quarterly cash dividend of $0.24 per share, which was paid on December 15, 2017, to shareholders of record as on November 24, 2017. The Company repurchased 1.10 million shares worth $59.00 million during the quarter.
Outlook
For the first quarter FY18, the Company is expecting sales to be in the range of $1.34 billion - $1.40 billion, and adjusted EPS to be in the band of $0.70 - $0.76.
Stock Performance Snapshot
February 09, 2018 - At Friday's closing bell, Robert Half International's stock rose 1.84%, ending the trading session at $53.22.
Volume traded for the day: 1.61 million shares, which was above the 3-month average volume of 994.88 thousand shares.
Stock performance in the last three-month - up 0.91%; previous six-month period - up 22.57%; and past twelve-month period - up 12.75%
After last Friday's close, Robert Half International's market cap was at $6.59 billion.
Price to Earnings (P/E) ratio was at 22.89.
The stock has a dividend yield of 1.80%.
The stock is part of the Services sector, categorized under the Staffing & Outsourcing Services industry. This sector was up 0.5% at the end of the session.
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