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ROBERT HALF REPORTS SECOND-QUARTER FINANCIAL RESULTS

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Robert Half (NYSE:RHI) reported Q2 2025 financial results showing net income of $41 million ($0.41 per share) on revenues of $1.37 billion, compared to $68 million ($0.66 per share) on revenues of $1.47 billion in Q2 2024. The company experienced a 7% year-over-year revenue decline due to persistent global economic uncertainty affecting hiring activity and project starts.

Revenue breakdown shows Contract Talent Solutions at $760 million, Permanent Placement at $115 million, and Protiviti at $495 million. Despite challenging conditions, the company maintained strong market recognition, ranking first on Forbes' list of America's Best Professional Recruiting Firms.

Management noted that revenue levels declined during the first two months of Q2 before stabilizing at lower levels in June, with this trend continuing into July.

Robert Half (NYSE:RHI) ha riportato i risultati finanziari del secondo trimestre 2025 con un utile netto di 41 milioni di dollari (0,41 dollari per azione) su ricavi per 1,37 miliardi di dollari, rispetto a 68 milioni di dollari (0,66 dollari per azione) su ricavi di 1,47 miliardi di dollari nel secondo trimestre 2024. L'azienda ha registrato un calo del 7% dei ricavi su base annua a causa dell'incertezza economica globale persistente che ha influenzato l'attività di assunzione e l'avvio dei progetti.

La suddivisione dei ricavi mostra Contract Talent Solutions a 760 milioni di dollari, Permanent Placement a 115 milioni di dollari e Protiviti a 495 milioni di dollari. Nonostante le condizioni difficili, l'azienda ha mantenuto un forte riconoscimento sul mercato, posizionandosi al primo posto nella lista di Forbes delle migliori società di reclutamento professionale in America.

La direzione ha osservato che i livelli di ricavo sono diminuiti nei primi due mesi del secondo trimestre, per poi stabilizzarsi a livelli inferiori a giugno, con questa tendenza che è proseguita anche a luglio.

Robert Half (NYSE:RHI) informó los resultados financieros del segundo trimestre de 2025, mostrando un ingreso neto de 41 millones de dólares (0,41 dólares por acción) sobre ingresos de 1,37 mil millones de dólares, en comparación con 68 millones de dólares (0,66 dólares por acción) sobre ingresos de 1,47 mil millones en el segundo trimestre de 2024. La compañía experimentó una caída del 7% en los ingresos interanuales debido a la persistente incertidumbre económica global que afectó la actividad de contratación y el inicio de proyectos.

La distribución de ingresos muestra Contract Talent Solutions con 760 millones de dólares, Permanent Placement con 115 millones de dólares y Protiviti con 495 millones de dólares. A pesar de las condiciones difíciles, la empresa mantuvo un fuerte reconocimiento en el mercado, ubicándose en primer lugar en la lista de Forbes de las mejores firmas de reclutamiento profesional en Estados Unidos.

La dirección señaló que los niveles de ingresos disminuyeron durante los primeros dos meses del segundo trimestre antes de estabilizarse en niveles más bajos en junio, con esta tendencia continuando en julio.

로버� 하프 (NYSE:RHI)� 2025� 2분기 재무 결과� 발표하며, 매출 13� 7천만 달러� 순이� 4,100� 달러(주당 0.41달러)� 기록했다� 밝혔습니�. 이는 2024� 2분기 매출 14� 7천만 달러, 순이� 6,800� 달러(주당 0.66달러)와 비교� 수치입니�. � 세계 경제 불확실성 지속으� 채용 활동� 프로젝트 시작� 영향� 받아 전년 대� 매출� 7% 감소했습니다.

매출 구성은 Contract Talent Solutions가 7� 6천만 달러, Permanent Placement가 1� 1,500� 달러, Protiviti가 4� 9,500� 달러� 기록했습니다. 어려� 상황에도 불구하고 회사� 시장에서 높은 인지도를 유지하며 포브스가 선정� 미국 최고� 전문 채용 회사 1위에 올랐습니�.

경영진은 2분기 � � � 동안 매출� 감소하다가 6월에 낮은 수준에서 안정화되었으�, 이러� 추세가 7월에� 계속되고 있다� 언급했습니다.

Robert Half (NYSE:RHI) a annoncé ses résultats financiers du deuxième trimestre 2025, affichant un bénéfice net de 41 millions de dollars (0,41 dollar par action) pour un chiffre d'affaires de 1,37 milliard de dollars, contre 68 millions de dollars (0,66 dollar par action) pour un chiffre d'affaires de 1,47 milliard de dollars au deuxième trimestre 2024. L'entreprise a connu une baisse de 7 % du chiffre d'affaires d'une année sur l'autre en raison d'une incertitude économique mondiale persistante affectant l'activité de recrutement et le démarrage des projets.

La répartition du chiffre d'affaires montre Contract Talent Solutions à 760 millions de dollars, Permanent Placement à 115 millions de dollars et Protiviti à 495 millions de dollars. Malgré les conditions difficiles, l'entreprise a conservé une forte reconnaissance sur le marché, se classant première sur la liste Forbes des meilleures sociétés de recrutement professionnel aux États-Unis.

La direction a noté que les niveaux de chiffre d'affaires ont diminué au cours des deux premiers mois du deuxième trimestre avant de se stabiliser à des niveaux plus bas en juin, cette tendance se poursuivant en juillet.

Robert Half (NYSE:RHI) meldete die Finanzergebnisse für das zweite Quartal 2025 mit einem Nettogewinn von 41 Millionen US-Dollar (0,41 US-Dollar pro Aktie) bei Einnahmen von 1,37 Milliarden US-Dollar, verglichen mit 68 Millionen US-Dollar (0,66 US-Dollar pro Aktie) bei Einnahmen von 1,47 Milliarden US-Dollar im zweiten Quartal 2024. Das Unternehmen verzeichnete einen 7%igen Umsatzrückgang im Jahresvergleich aufgrund anhaltender globaler wirtschaftlicher Unsicherheiten, die die Einstellungsaktivitäten und Projektstarts beeinträchtigten.

Die Umsatzaufteilung zeigt Contract Talent Solutions mit 760 Millionen US-Dollar, Permanent Placement mit 115 Millionen US-Dollar und Protiviti mit 495 Millionen US-Dollar. Trotz der schwierigen Bedingungen behielt das Unternehmen eine starke Marktposition bei und belegte den ersten Platz auf der Forbes-Liste der besten professionellen Personalvermittlungsfirmen in den USA.

Das Management stellte fest, dass die Umsätze in den ersten beiden Monaten des zweiten Quartals zurückgingen, sich im Juni auf einem niedrigeren Niveau stabilisierten und dieser Trend sich im Juli fortsetzte.

Positive
  • None.
Negative
  • Overall revenue declined 7% year-over-year to $1.37 billion
  • Net income decreased 40% to $41 million from $68 million in Q2 2024
  • EPS dropped to $0.41 from $0.66 year-over-year
  • Operating income fell significantly to $1.5 million from $75.5 million in Q2 2024

Insights

Robert Half reports significant Q2 earnings decline with EPS dropping 38% to $0.41 amid persistent economic uncertainty impacting hiring activity.

Robert Half's Q2 2025 results reveal considerable financial pressure with $1.37 billion in revenue, down 7% year-over-year, while net income plummeted 40% from $68 million to $41 million. EPS fell sharply from $0.66 to $0.41, representing a 38% decline. The six-month metrics show even more concerning trends with a 54% decrease in net income from $132 million to $58 million and EPS dropping from $1.27 to $0.58.

The company's operational fundamentals have deteriorated significantly. Operating income collapsed to just $1.54 million for Q2 2025 compared to $75.54 million in Q2 2024, a staggering 98% decline. This massive drop occurred despite a more modest 7% revenue decline, suggesting severe margin compression. Notably, while costs of services decreased by 4% year-over-year, selling, general and administrative expenses actually increased by 1.4%, creating a concerning expense structure imbalance.

Revenue trends by segment reveal a nuanced picture: contract talent solutions declined 11.1% to $759.8 million, permanent placement dropped 12.5% to $114.7 million, while Protiviti (consulting) managed a modest 1.8% growth to $495.2 million. This suggests the consulting segment is providing some stability amid weakness in traditional staffing services.

Management attributes these results to "elevated global economic uncertainty" causing client caution, longer decision cycles, and reduced hiring activity. While revenue declined during the first two months of the quarter, management noted it stabilized at lower levels in June, potentially indicating the rate of deterioration is slowing. However, with operating income near breakeven levels and continuing economic headwinds, Robert Half faces significant challenges in reversing these negative trends.

MENLO PARK, Calif., July 23, 2025 /PRNewswire/ -- Robert Half Inc. (NYSE:RHI) today reported revenues and earnings for the second quarter ended June30, 2025.

For the three months ended June30, 2025, net income was $41 million, or $0.41 per share, on revenues of $1.370 billion. For the three months ended June30, 2024, net income was $68 million, or $0.66 per share, on revenues of $1.473 billion.

For the six months ended June30, 2025, net income was $58 million, or $0.58 per share, on revenues of $2.722 billion. For the six months ended June30, 2024, net income was $132 million, or $1.27 per share, on revenues of $2.948 billion.

"For the second quarter of 2025, global enterprise revenues were $1.370 billion, down 7 percent from last year's second quarter both on a reported basis and on an adjusted basis. Elevated global economic uncertainty persisted throughout the quarter, extending client and job seeker caution, elongating decision cycles, and subduing hiring activity and new project starts. Revenue levels fell modestly during the first two months of the quarter, then stabilized at lower levels in June, which continued post-quarter into July," said M. Keith Waddell, president and chief executive officer at Robert Half. "We are very well-positioned to capitalize on emerging opportunities and support our clients' future talent and consulting needs through the strength of our industry-leading brand, our people, our technology, and our unique business model that includes both professional staffing and business consulting services.

"We'd like to thank our employees, who are our greatest asset and what differentiates us in the marketplace, for the significant company recognition we received in the second quarter. We are proud to have ranked number one on Forbes' list of America's Best Professional Recruiting Firms. We were also recognized by Forbes as one of America's Best Temporary Staffing Firms and one of America's Best Executive Recruiting Firms," Waddell concluded.

Robert Half management will conduct a conference call today at 5 p.m. EDT. The prepared remarks for this call are available now in the Investor Center of the Robert Half website (. Simply click on the Quarterly Conference Calls link. The dial-in number is 888-394-8218 (+1-323-994-2093 outside the United States and Canada). The confirmation code to access the call is 1562597.

A recording of this call will be available for audio replay beginning at approximately 8 p.m. EDT on July 23 and ending after 12 months. To access the replay, visit . The conference call also will be archived in audio format on the Company's website at.

Robert Half is the world's first and largest specialized talent solutions and business consulting firm, connecting highly skilled job seekers with rewarding opportunities at great companies. We offer contract talent and permanent placement solutions in the fields of finance and accounting, technology, marketing and creative, legal, and administrative and customer support, and we also provide executive search services. Robert Half is the parent company of Protiviti®, a global consulting firm that delivers internal audit, risk, business and technology consulting solutions. In the past 12 months, Robert Half, including Protiviti, has been named one of the Fortune® World's Most Admired Companies� and 100 Best Companies to Work For.

Certain information contained in this press release and its attachments may be deemed forward-looking statements regarding events and financial trends that may affect the future operating results or financial positions of Robert Half Inc. (the "Company"). Forward-looking statements are not guarantees or promises that goals or targets will be met. These statements may be identified by words such as "anticipate," "potential," "estimate," "forecast," "target," "project," "plan," "intend," "believe," "expect," "should," "could," "would," "may," "might," "will," or variations or negatives thereof or by similar or comparable words or phrases. In addition, historical, current and forward-looking information about the Company's corporate responsibility and compliance programs, including targets or goals, may not be considered material for the Securities and Exchange Commission ("SEC") or other mandatory reporting purposes and may be based on standards for measuring progress that are still developing; on internal controls, diligence or processes that are evolving; on representations reviewed or provided by third parties; and on assumptions that are subject to change in the future. Forward-looking statements are estimates only and are based on management's current expectations, currently available information and current strategy, plans or forecasts, and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict, often beyond our control and are inherently uncertain. Forward-looking statements are subject to risks and uncertainties that could cause actual results and outcomes, or the timing of these results or outcomes, to differ materially from those expressed or implied in the statements.

These risks and uncertainties include, but are not limited to, the following: changes to or new interpretations of United States of America ("U.S.") or international tax regulations; the global financial and economic situation; changes in levels of unemployment and other economic conditions in the U.S. or foreign countries where the Company does business, or in particular regions or industries; reduction in the supply of candidates for contract employment or the Company's ability to attract candidates; the development, proliferation and adoption of artificial intelligence ("AI") by the Company and the third parties it serves; the entry of new competitors into the marketplace or expansion by existing competitors; the ability of the Company to maintain existing client relationships and attract new clients in the context of changing economic or competitive conditions; the impact of competitive pressures, including any change in the demand for the Company's services, or the Company's ability to maintain its margins; the possibility of the Company incurring liability for its activities, including the activities of its engagement professionals, or for events impacting its engagement professionals on clients' premises; the possibility that adverse publicity could impact the Company's ability to attract and retain clients and candidates; the success of the Company in attracting, training and retaining qualified management personnel and other staff employees; the Company's ability to comply with governmental regulations affecting personnel services businesses in particular or employer/employee relationships in general; whether there will be ongoing demand for Sarbanes-Oxley or other regulatory compliance services; the Company's reliance on short-term contracts for a significant percentage of its business; litigation relating to prior or current transactions or activities, including litigation that may be disclosed from time to time in the Company's SEC filings; the impact of extreme weather conditions on the Company and its candidates and clients; the ability of the Company to manage its international operations and comply with foreign laws and regulations; the impact of fluctuations in foreign currency exchange rates; the possibility that the additional costs the Company will incur as a result of health care or other reform legislation may adversely affect the Company's profit margins or the demand for the Company's services; the possibility that the Company's computer and communications hardware and software systems could be damaged or their service interrupted or that the Company could experience a cybersecurity breach; and the possibility that the Company may fail to maintain adequate financial and management controls, and as a result suffer errors in its financial reporting.

Additionally, with respect to Protiviti, other risks and uncertainties include the fact that future success will depend on its ability to retain employees and attract clients; there can be no assurance that there will be ongoing demand for broad-based consulting, regulatory compliance, technology services, public sector or other high-demand advisory services; failure to produce projected revenues could adversely affect financial results; and there is the possibility of involvement in litigation relating to prior or current transactions or activities.

A summary of additional risks and uncertainties can be found in the Annual Report on Form 10-K for the year ended December 31, 2024, and in the Company's other filings with the U.S. Securities and Exchange Commission.

Because long-term contracts are not a significant part of the Company's business, future results cannot be reliably predicted by considering past trends or extrapolating past results. Except as required by law, the Company undertakes no obligation to update information in this report, whether as a result of new information, future events, or otherwise, and notwithstanding any historical practice of doing so.

A copy of this release is available at .

ATTACHED:


Summary of Operations

Supplemental Financial Information

Non-GAAP Financial Measures

ROBERT HALF INC.

SUMMARY OF OPERATIONS

(in thousands, except per share amounts)



Three Months Ended
June 30,


Six Months Ended
June 30,


2025


2024


2025


2024


(Unaudited)


(Unaudited)









Service revenues

$ 1,369,743


$ 1,472,524


$ 2,721,650


$ 2,948,461

Costs of services

860,269


895,845


1,713,131


1,808,985









Gross margin

509,474


576,679


1,008,519


1,139,476









Selling, general and administrative expenses

507,934


501,136


968,097


1,023,035

Operating income

1,540


75,543


40,422


116,441

Income from investments held in employee deferred compensation trusts
(which is completely offset by related costs and expenses)

(57,654)


(15,733)


(37,483)


(59,109)

Interest income, net

(2,239)


(5,186)


(5,811)


(11,599)

Income before income taxes

61,433


96,462


83,716


187,149

Provision for income taxes

20,465


28,306


25,398


55,292









Net income

$ 40,968


$ 68,156


$ 58,318


$ 131,857









Diluted net income per share

$ 0.41


$ 0.66


$ 0.58


$ 1.27









Weighted average shares:








Basic

100,410


103,151


100,537


103,469

Diluted

100,539


103,328


100,776


103,864

ROBERT HALF INC.

SUPPLEMENTAL FINANCIAL INFORMATION

(in thousands)



Three Months Ended
June 30,


Six Months Ended
June 30,


2025


2024


2025


2024


(Unaudited)


(Unaudited)

SERVICE REVENUES INFORMATION








Contract talent solutions








Finance and accounting

$ 555,626


$ 623,120


$ 1,118,559


$ 1,265,090

Administrative and customer support

165,591


190,344


331,218


390,276

Technology

158,403


157,899


310,945


315,869

Elimination of intersegment revenues (1)

(119,812)


(116,466)


(237,709)


(229,280)

Total contract talent solutions

759,808


854,897


1,523,013


1,741,955

Permanent placement talent solutions

114,713


131,063


226,804


255,830

Protiviti

495,222


486,564


971,833


950,676

Total service revenues

$ 1,369,743


$ 1,472,524


$ 2,721,650


$ 2,948,461



(1)

Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to the Company'sProtiviti segment in connection with the Company's blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line.



June 30,



2025


2024



(Unaudited)

SELECTED BALANCE SHEET INFORMATION:





Cash and cash equivalents


$ 380,547


$ 547,370

Accounts receivable, net


$ 826,872


$ 893,467

Total assets


$ 2,832,196


$ 2,937,749

Total current liabilities


$ 1,322,626


$ 1,263,264

Total stockholders' equity


$ 1,311,918


$ 1,480,155



Six Months Ended June 30,



2025


2024



(Unaudited)

SELECTED CASH FLOW INFORMATION:





Depreciation


$ 25,608


$ 25,520

Capitalized cloud computing implementation costs


$ 13,217


$ 15,557

Capital expenditures


$ 27,573


$ 24,174

Open market repurchases of common stock (shares)


1,128


1,660

ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES

The financial results of Robert Half Inc. (the "Company") are prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") and the rules of the SEC. To help readers understand the Company's financial performance, the Company supplements its GAAP financial results with the following non-GAAP measures: adjusted gross margin; adjusted selling, general and administrative expenses; adjusted operating income; and adjusted revenue growth rates.

The following measures: adjusted gross margin, adjusted selling, general and administrative expenses and adjusted operating income, include gains and losses on investments held to fund the Company's obligations under employee deferred compensation plans. The Company provides these measures because they are used by management to review its operational results.

Adjusted revenue growth rates represent year-over-year revenue growth rates after removing the impacts on reported revenues from the changes in the number of billing days and foreign currency exchange rates. The Company provides this data because it focuses on the Company's revenue growth rates attributable to operating activities and aids in evaluating revenue trends over time. The impacts from the changes in billing days and foreign currency exchange rates are calculated as follows:

  • Billing days impact is calculated by dividing each comparative period's reported revenues by the number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based on the per billing day amounts. Management calculates a global, weighted-average number of billing days for each reporting period based upon inputs from all countries and all functional specializations and segments.
  • Foreign currency impact is calculated by retranslating current period international revenues, using foreign currency exchange rates from the prior year's comparable period.

The non-GAAP financial measures provided herein may not provide information that is directly comparable to that provided by other companies in the Company's industry, as other companies may calculate such financial results differently. The Company's non-GAAP financial measures are not measurements of financial performance under GAAP and should not be considered as alternatives to amounts presented in accordance with GAAP. The Company does not consider these non-GAAP financial measures to be a substitute for, or superior to, the information provided by GAAP financial results. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is provided on the following pages.

ROBERT HALF INC

NON-GAAP FINANCIAL MEASURES

ADJUSTED GROSS MARGIN (UNAUDITED):

(in thousands)



Three Months EndedJune 30,


Relationships


Six Months Ended June 30,


Relationships


As Reported


As Adjusted


As Reported


As Adjusted


As Reported


As Adjusted


As Reported


As Adjusted


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024

Gross Margin
































Contract talent solutions

$ 297,367


$ 336,161


$ 297,367


$ 336,161


39.1%


39.3%


39.1%


39.3%


$ 594,300


$ 686,731


$ 594,300


$ 686,731


39.0%


39.4%


39.0%


39.4%

Permanent placement talent
solutions

114,551


130,801


114,551


130,801


99.9%


99.8%


99.9%


99.8%


226,412


255,349


226,412


255,349


99.8%


99.8%


99.8%


99.8%

Total talent solutions

411,918


466,962


411,918


466,962


47.1%


47.4%


47.1%


47.4%


820,712


942,080


820,712


942,080


46.9%


47.2%


46.9%


47.2%

Protiviti

97,556


109,717


110,357


112,947


19.7%


22.5%


22.3%


23.2%


187,807


197,396


196,569


208,983


19.3%


20.8%


20.2%


22.0%

Total

$ 509,474


$ 576,679


$ 522,275


$ 579,909


37.2%


39.2%


38.1%


39.4%


$ 1,008,519


$ 1,139,476


$ 1,017,281


$ 1,151,063


37.1%


38.6%


37.4%


39.0%

The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the three months ended June30, 2025 and 2024:
































Three Months Ended June 30, 2025


Three Months Ended June 30, 2024


Contract talent

solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


Contract talent

solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue

Gross Margin






























As Reported

$ 297,367

39.1%


$ 114,551

99.9%


$ 411,918

47.1%


$ 97,556

19.7%


$ 509,474

37.2%


$ 336,161

39.3%


$ 130,801

99.8%


$ 466,962

47.4%


$ 109,717

22.5%


$ 576,679

39.2%

Adjustments (1)




12,801

2.6%


12,801

0.9%





3,230

0.7%


3,230

0.2%

As Adjusted

$ 297,367

39.1%


$ 114,551

99.9%


$ 411,918

47.1%


$ 110,357

22.3%


$ 522,275

38.1%


$ 336,161

39.3%


$ 130,801

99.8%


$ 466,962

47.4%


$ 112,947

23.2%


$ 579,909

39.4%

The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the six months ended June30, 2025 and 2024:
































Six Months Ended June 30, 2025


Six Months Ended June 30, 2024


Contract talent

solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


Contract talent

solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue

Gross Margin






























As Reported

$ 594,300

39.0%


$ 226,412

99.8%


$ 820,712

46.9%


$ 187,807

19.3%


$ 1,008,519

37.1%


$ 686,731

39.4%


$ 255,349

99.8%


$ 942,080

47.2%


$ 197,396

20.8%


$ 1,139,476

38.6%

Adjustments (1)




8,762

0.9%


8,762

0.3%





11,587

1.2%


11,587

0.4%

As Adjusted

$ 594,300

39.0%


$ 226,412

99.8%


$ 820,712

46.9%


$ 196,569

20.2%


$ 1,017,281

37.4%


$ 686,731

39.4%


$ 255,349

99.8%


$ 942,080

47.2%


$ 208,983

22.0%


$ 1,151,063

39.0%



(1)

Changes in the Company's employee deferred compensation plan obligations related toProtiviti operations are included in costs of services, while the related investment income is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment income from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.

ROBERT HALF INC

NON-GAAP FINANCIAL MEASURES

ADJUSTED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED):

(in thousands)



Three Months EndedJune 30,


Relationships


Six Months Ended June 30,


Relationships


As Reported


As Adjusted


As Reported


As Adjusted


As Reported


As Adjusted


As Reported


As Adjusted


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024

Selling, General and

Administrative Expenses































Contract talent solutions

$ 318,871


$ 308,886


$ 278,944


$ 298,015


42.0%


36.1%


36.7%


34.9%


$ 595,083


$ 640,474


$ 569,186


$ 598,467


39.1%


36.8%


37.4%


34.4%

Permanent placement talent
solutions

111,218


116,285


106,292


114,653


97.0%


88.7%


92.7%


87.5%


217,353


232,861


214,529


227,346


95.8%


91.0%


94.6%


88.9%

Total talent solutions

430,089


425,171


385,236


412,668


49.2%


43.1%


44.1%


41.9%


812,436


873,335


783,715


825,813


46.4%


43.7%


44.8%


41.3%

Protiviti

77,845


75,965


77,845


75,965


15.7%


15.6%


15.7%


15.6%


155,661


149,700


155,661


149,700


16.0%


15.7%


16.0%


15.7%

Total

$ 507,934


$ 501,136


$ 463,081


$ 488,633


37.1%


34.0%


33.8%


33.2%


$ 968,097


$ 1,023,035


$ 939,376


$ 975,513


35.6%


34.7%


34.5%


33.1%

The following tables provide reconciliations of the non-GAAP adjusted selling, general and administrative expenses to reported selling, general and administrative expenses for the three months ended June30, 2025 and 2024:


Three Months Ended June 30, 2025


Three Months Ended June 30, 2024


Contract talent

solutions


Permanent
placement talent
solutions


Total talent
solutions

Protiviti


Total


Contract talent

solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue

Selling, General and

Administrative Expenses





























As Reported

$ 318,871

42.0%


$ 111,218

97.0%


$ 430,089

49.2%


$ 77,845

15.7%


$ 507,934

37.1%


$ 308,886

36.1%


$ 116,285

88.7%


$ 425,171

43.1%


$ 75,965

15.6%


$ 501,136

34.0%

Adjustments (1)

(39,927)

(5.3%)


(4,926)

(4.3%)


(44,853)

(5.1%)



(44,853)

(3.3%)


(10,871)

(1.2%)


(1,632)

(1.2%)


(12,503)

(1.2%)



(12,503)

(0.8%)

As Adjusted

$ 278,944

36.7%


$ 106,292

92.7%


$ 385,236

44.1%


$ 77,845

15.7%


$ 463,081

33.8%


$ 298,015

34.9%


$ 114,653

87.5%


$ 412,668

41.9%


$ 75,965

15.6%


$ 488,633

33.2%

The following tables provide reconciliations of the non-GAAP adjusted selling, general and administrative expenses to reported selling, general and administrative expenses for the six months ended June30, 2025 and 2024:


Six Months Ended June 30, 2025


Six Months Ended June 30, 2024


Contract talent
solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


Contract talent
solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue

Selling, General and

Administrative Expenses





























As Reported

$ 595,083

39.1%


$ 217,353

95.8%


$ 812,436

46.4%


$ 155,661

16.0%


$ 968,097

35.6%


$ 640,474

36.8%


$ 232,861

91.0%


$ 873,335

43.7%


$ 149,700

15.7%


$ 1,023,035

34.7%

Adjustments (1)

(25,897)

(1.7%)


(2,824)

(1.2%)


(28,721)

(1.6%)



(28,721)

(1.1%)


(42,007)

(2.4%)


(5,515)

(2.1%)


(47,522)

(2.4%)



(47,522)

(1.6%)

As Adjusted

$ 569,186

37.4%


$ 214,529

94.6%


$ 783,715

44.8%


$ 155,661

16.0%


$ 939,376

34.5%


$ 598,467

34.4%


$ 227,346

88.9%


$ 825,813

41.3%


$ 149,700

15.7%


$ 975,513

33.1%



(1)

Changes in the Company's employee deferred compensation plan obligations related to talent solutions operations are included in selling, general and administrative expenses, while the related investment income is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment income from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

ADJUSTED OPERATING INCOME(UNAUDITED):

(in thousands)



Three Months EndedJune 30,


Relationships


Six Months Ended June 30,


Relationships


As Reported


As Adjusted


As Reported


As Adjusted


As Reported


As Adjusted


As Reported


As Adjusted


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024


2025


2024

Operating income (loss)
































Contract talent solutions

$ (21,504)


$ 27,275


$ 18,423


$ 38,146


(2.8%)


3.2%


2.4%


4.5%


$ (783)


$ 46,257


$ 25,114


$ 88,264


(0.1%)


2.7%


1.6%


5.1%

Permanent placement talent
solutions

3,333


14,516


8,259


16,148


2.9%


11.1%


7.2%


12.3%


9,059


22,488


11,883


28,003


4.0%


8.8%


5.2%


10.9%

Total talent solutions

(18,171)


41,791


26,682


54,294


(2.1%)


4.2%


3.1%


5.5%


8,276


68,745


36,997


116,267


0.5%


3.4%


2.1%


5.8%

Protiviti

19,711


33,752


32,512


36,982


4.0%


6.9%


6.6%


7.6%


32,146


47,696


40,908


59,283


3.3%


5.0%


4.2%


6.2%

Total

$ 1,540


$ 75,543


$ 59,194


$ 91,276


0.1%


5.1%


4.3%


6.2%


$ 40,422


$ 116,441


$ 77,905


$ 175,550


1.5%


3.9%


2.9%


6.0%

The following tables provide reconciliations of the non-GAAP adjusted operating income to reported operating income (loss) for the three months ended June 30, 2025 and 2024:


Three Months Ended June 30, 2025


Three Months Ended June 30, 2024


Contract talent

solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


Contract talent

solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue

Operating income (loss)





























As Reported

$ (21,504)

(2.8%)


$ 3,333

2.9%


$ (18,171)

(2.1%)


$ 19,711

4.0%


$ 1,540

0.1%


$ 27,275

3.2%


$ 14,516

11.1%


$ 41,791

4.2%


$ 33,752

6.9%


$ 75,543

5.1%

Adjustments (1)

39,927

5.2%


4,926

4.3%


44,853

5.2%


12,801

2.6%


57,654

4.2%


10,871

1.3%


1,632

1.2%


12,503

1.3%


3,230

0.7%


15,733

1.1%

As Adjusted

$ 18,423

2.4%


$ 8,259

7.2%


$ 26,682

3.1%


$ 32,512

6.6%


$ 59,194

4.3%


$ 38,146

4.5%


$ 16,148

12.3%


$ 54,294

5.5%


$ 36,982

7.6%


$ 91,276

6.2%

The following tables provide reconciliations of the non-GAAP adjusted operating income (loss) to reported operating income for the six months ended June 30, 2025 and 2024:


Six Months Ended June 30, 2025


Six Months Ended June 30, 2024


Contract talent

solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


Contract talent

solutions


Permanent
placement talent
solutions


Total talent
solutions


Protiviti


Total


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue


$

% of
Revenue

Operating income (loss)





























As Reported

$ (783)

(0.1%)


$ 9,059

4.0%


$ 8,276

0.5%


$ 32,146

3.3%


$ 40,422

1.5%


$ 46,257

2.7%


$ 22,488

8.8%


$ 68,745

3.4%


$ 47,696

5.0%


$ 116,441

3.9%

Adjustments (1)

25,897

1.7%


2,824

1.2%


28,721

1.6%


8,762

0.9%


37,483

1.4%


42,007

2.4%


5,515

2.1%


47,522

2.4%


11,587

1.2%


59,109

2.1%

As Adjusted

$ 25,114

1.6%


$ 11,883

5.2%


$ 36,997

2.1%


$ 40,908

4.2%


$ 77,905

2.9%


$ 88,264

5.1%


$ 28,003

10.9%


$ 116,267

5.8%


$ 59,283

6.2%


$ 175,550

6.0%



(1)

Changes in the Company's employee deferred compensation plan obligations related to talent solutions operations are included in operating income (loss). The non-GAAP financial adjustments shown in the table above are to reclassify investment income from investments held in employee deferred compensation trusts to the same line item that includes the corresponding change in obligation. These adjustments have no impact on income before income taxes.

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATES (%) (UNAUDITED):




Year-Over-Year Growth Rates

(As Reported)


Non-GAAP Year-Over-Year Growth Rates

(As Adjusted)



2024


2025


2024


2025



Q1


Q2


Q3


Q4


Q1


Q2


Q1


Q2


Q3


Q4


Q1


Q2

Global

























Finance and accounting


-17.5


-13.6


-9.2


-9.5


-12.3


-10.8


-17.0


-13.5


-10.5


-9.8


-10.0


-10.8

Administrative and customer
support


-8.9


-9.8


-9.2


-8.8


-17.2


-13.0


-8.3


-9.8


-10.8


-9.4


-15.2


-13.3

Technology


-18.6


-13.1


-6.1


-3.5


-3.4


0.3


-17.8


-13.1


-7.6


-4.1


-1.3


0.4

Elimination of intersegment
revenues (1)


-10.3


1.4


21.6


18.9


4.5


2.9


-9.9


1.3


19.4


17.8


6.8


2.5

Total contract talent
solutions


-16.7


-14.5


-11.9


-11.5


-14.0


-11.1


-16.2


-14.4


-13.2


-11.8


-11.8


-11.1

Permanent placement talent
solutions


-20.4


-12.2


-11.9


-11.1


-10.2


-12.5


-19.8


-12.0


-13.2


-11.4


-7.8


-12.6

Total talent solutions


-17.2


-14.2


-11.9


-11.4


-13.5


-11.3


-16.7


-14.0


-13.2


-11.7


-11.3


-11.3

Protiviti


-6.1


-0.9


6.4


5.3


2.7


1.8


-5.4


-0.9


4.5


4.5


4.7


1.5

Total


-14.0


-10.2


-6.3


-6.1


-8.4


-7.0


-13.4


-10.1


-7.7


-6.6


-6.2


-7.1


























United States

























Contract talent solutions


-19.1


-15.7


-12.4


-10.3


-11.8


-10.7


-18.6


-15.8


-13.7


-11.2


-10.7


-10.7

Permanent placement talent
solutions


-19.3


-11.5


-9.0


-9.6


-8.5


-13.2


-18.7


-11.7


-10.4


-10.4


-7.3


-13.2

Total talent solutions


-19.1


-15.2


-12.0


-10.2


-11.4


-11.0


-18.6


-15.3


-13.3


-11.1


-10.3


-11.0

Protiviti


-4.8


3.3


9.3


6.6


2.3


-0.7


-4.2


3.1


7.6


5.6


3.6


-0.7

Total


-14.9


-9.6


-5.2


-4.7


-6.9


-7.4


-14.3


-9.7


-6.7


-5.7


-5.7


-7.4


























International

























Contract talent solutions


-8.4


-10.0


-10.6


-15.2


-20.7


-12.5


-7.5


-9.4


-11.7


-13.9


-16.2


-12.9

Permanent placement talent
solutions


-23.2


-13.8


-18.6


-14.7


-14.5


-10.6


-22.1


-13.0


-19.8


-13.7


-10.1


-11.2

Total talent solutions


-10.8


-10.7


-11.9


-15.1


-19.8


-12.2


-9.9


-10.0


-13.0


-13.9


-15.3


-12.6

Protiviti


-11.3


-16.2


-5.6


0.2


4.4


13.1


-10.1


-15.9


-8.1


-0.4


7.9


10.7

Total


-10.9


-12.2


-10.2


-10.9


-13.6


-5.3


-10.0


-11.6


-11.7


-10.2


-9.4


-6.3

(1)

Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to Protiviti in connection with the Company's blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line item.

The non-GAAP financial measures included in the table above adjust for the following items:

Billing Days.The "As Reported" revenue growth rates are based upon reported revenues. Management calculates the billing day impact by dividing each comparative period's reported revenues by the number of billing days for that period to arrive at a per billing day amount. Same billing day growth rates are then calculated based on the per billing day amounts. Management calculates a global, weighted-average number of billing days for each reporting period based upon input from all countries and all functional specializations and segments.

Foreign Currency Translation.The "As Reported" revenue growth rates are based upon reported revenues, which include the impact of changes in foreign currency exchange rates. The foreign currency impact is calculated by retranslating current period international revenues, using foreign currency exchange rates from the prior year's comparable period.

The term "As Adjusted" means that the impact of different billing days and constant currency fluctuations are removed from the revenue growth rate calculation. A reconciliation of the non-GAAP year-over-year revenue growth rates to the "As Reported" year-over-year revenue growth rates is included herein, on Pages 10-12.

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):


Year-Over-Year Revenue Growth � GLOBAL



Q1 2024


Q2 2024


Q3 2024


Q4 2024


Q1 2025


Q2 2025

Finance and accounting













As Reported


-17.5


-13.6


-9.2


-9.5


-12.3


-10.8

Billing Days Impact


0.7


-0.3


-1.5


-0.8


1.3


0.4

Currency Impact


-0.2


0.4


0.2


0.5


1.0


-0.4

As Adjusted


-17.0


-13.5


-10.5


-9.8


-10.0


-10.8














Administrative and customer support













As Reported


-8.9


-9.8


-9.2


-8.8


-17.2


-13.0

Billing Days Impact


0.8


-0.3


-1.5


-0.8


1.3


0.4

Currency Impact


-0.2


0.3


-0.1


0.2


0.7


-0.7

As Adjusted


-8.3


-9.8


-10.8


-9.4


-15.2


-13.3














Technology













As Reported


-18.6


-13.1


-6.1


-3.5


-3.4


0.3

Billing Days Impact


0.7


-0.3


-1.5


-0.7


1.4


0.5

Currency Impact


0.1


0.3


0.0


0.1


0.7


-0.4

As Adjusted


-17.8


-13.1


-7.6


-4.1


-1.3


0.4














Elimination of intersegment revenues













As Reported


-10.3


1.4


21.6


18.9


4.5


2.9

Billing Days Impact


0.7


-0.3


-1.9


-1.0


1.6


0.5

Currency Impact


-0.3


0.2


-0.3


-0.1


0.7


-0.9

As Adjusted


-9.9


1.3


19.4


17.8


6.8


2.5














Total contract talent solutions













As Reported


-16.7


-14.5


-11.9


-11.5


-14.0


-11.1

Billing Days Impact


0.6


-0.3


-1.4


-0.7


1.3


0.4

Currency Impact


-0.1


0.4


0.1


0.4


0.9


-0.4

As Adjusted


-16.2


-14.4


-13.2


-11.8


-11.8


-11.1














Permanent placement talent solutions













As Reported


-20.4


-12.2


-11.9


-11.1


-10.2


-12.5

Billing Days Impact


0.7


-0.3


-1.4


-0.7


1.3


0.5

Currency Impact


-0.1


0.5


0.1


0.4


1.1


-0.6

As Adjusted


-19.8


-12.0


-13.2


-11.4


-7.8


-12.6














Total talent solutions













As Reported


-17.2


-14.2


-11.9


-11.4


-13.5


-11.3

Billing Days Impact


0.6


-0.2


-1.4


-0.7


1.2


0.4

Currency Impact


-0.1


0.4


0.1


0.4


1.0


-0.4

As Adjusted


-16.7


-14.0


-13.2


-11.7


-11.3


-11.3














Protiviti













As Reported


-6.1


-0.9


6.4


5.3


2.7


1.8

Billing Days Impact


0.7


-0.3


-1.7


-0.8


1.5


0.4

Currency Impact


0.0


0.3


-0.2


0.0


0.5


-0.7

As Adjusted


-5.4


-0.9


4.5


4.5


4.7


1.5














Total













As Reported


-14.0


-10.2


-6.3


-6.1


-8.4


-7.0

Billing Days Impact


0.7


-0.3


-1.4


-0.8


1.4


0.4

Currency Impact


-0.1


0.4


0.0


0.3


0.8


-0.5

As Adjusted


-13.4


-10.1


-7.7


-6.6


-6.2


-7.1

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):


Year-Over-Year Revenue Growth � UNITED STATES



Q1 2024


Q2 2024


Q3 2024


Q4 2024


Q1 2025


Q2 2025

Contract talent solutions





As Reported


-19.1


-15.7


-12.4


-10.3


-11.8


-10.7

Billing Days Impact


0.5


-0.1


-1.3


-0.9


1.1


0.0

Currency Impact







As Adjusted


-18.6


-15.8


-13.7


-11.2


-10.7


-10.7














Permanent placement talent solutions













As Reported


-19.3


-11.5


-9.0


-9.6


-8.5


-13.2

Billing Days Impact


0.6


-0.2


-1.4


-0.8


1.2


0.0

Currency Impact







As Adjusted


-18.7


-11.7


-10.4


-10.4


-7.3


-13.2














Total talent solutions













As Reported


-19.1


-15.2


-12.0


-10.2


-11.4


-11.0

Billing Days Impact


0.5


-0.1


-1.3


-0.9


1.1


0.0

Currency Impact







As Adjusted


-18.6


-15.3


-13.3


-11.1


-10.3


-11.0














Protiviti













As Reported


-4.8


3.3


9.3


6.6


2.3


-0.7

Billing Days Impact


0.6


-0.2


-1.7


-1.0


1.3


0.0

Currency Impact







As Adjusted


-4.2


3.1


7.6


5.6


3.6


-0.7














Total













As Reported


-14.9


-9.6


-5.2


-4.7


-6.9


-7.4

Billing Days Impact


0.6


-0.1


-1.5


-1.0


1.2


0.0

Currency Impact







As Adjusted


-14.3


-9.7


-6.7


-5.7


-5.7


-7.4

ROBERT HALF INC.

NON-GAAP FINANCIAL MEASURES

REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):


Year-Over-Year Revenue Growth � INTERNATIONAL



Q1 2024


Q2 2024


Q3 2024


Q4 2024


Q1 2025


Q2 2025

Contract talent solutions





As Reported


-8.4


-10.0


-10.6


-15.2


-20.7


-12.5

Billing Days Impact


1.5


-1.1


-1.6


-0.4


0.6


1.4

Currency Impact


-0.6


1.7


0.5


1.7


3.9


-1.8

As Adjusted


-7.5


-9.4


-11.7


-13.9


-16.2


-12.9














Permanent placement talent solutions













As Reported


-23.2


-13.8


-18.6


-14.7


-14.5


-10.6

Billing Days Impact


1.3


-1.0


-1.6


-0.4


0.6


1.4

Currency Impact


-0.2


1.8


0.4


1.4


3.8


-2.0

As Adjusted


-22.1


-13.0


-19.8


-13.7


-10.1


-11.2














Total talent solutions













As Reported


-10.8


-10.7


-11.9


-15.1


-19.8


-12.2

Billing Days Impact


1.4


-1.0


-1.6


-0.5


0.6


1.4

Currency Impact


-0.5


1.7


0.5


1.7


3.9


-1.8

As Adjusted


-9.9


-10.0


-13.0


-13.9


-15.3


-12.6














Protiviti













As Reported


-11.3


-16.2


-5.6


0.2


4.4


13.1

Billing Days Impact


1.4


-1.0


-1.7


-0.4


0.7


1.7

Currency Impact


-0.2


1.3


-0.8


-0.2


2.8


-4.1

As Adjusted


-10.1


-15.9


-8.1


-0.4


7.9


10.7














Total













As Reported


-10.9


-12.2


-10.2


-10.9


-13.6


-5.3

Billing Days Impact


1.3


-1.0


-1.6


-0.5


0.6


1.5

Currency Impact


-0.4


1.6


0.1


1.2


3.6


-2.5

As Adjusted


-10.0


-11.6


-11.7


-10.2


-9.4


-6.3

Cision View original content to download multimedia:

SOURCE Robert Half

FAQ

What were Robert Half's (RHI) key financial results for Q2 2025?

Robert Half reported Q2 2025 revenue of $1.37 billion (down 7% YoY), net income of $41 million (down from $68 million), and EPS of $0.41 (down from $0.66).

How did Robert Half's different business segments perform in Q2 2025?

Contract Talent Solutions revenue was $760 million, Permanent Placement revenue was $115 million, and Protiviti revenue was $495 million.

What factors affected Robert Half's (RHI) performance in Q2 2025?

Performance was impacted by elevated global economic uncertainty, leading to client and job seeker caution, longer decision cycles, and reduced hiring activity and new project starts.

What is Robert Half's (RHI) current cash position as of Q2 2025?

Robert Half reported cash and cash equivalents of $380.5 million as of June 30, 2025.

What recognition did Robert Half (RHI) receive in Q2 2025?

Robert Half ranked #1 on Forbes' list of America's Best Professional Recruiting Firms and was recognized among America's Best Temporary Staffing Firms and Best Executive Recruiting Firms.
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