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NEW YORK - Kforce Inc. (NYSE:KFRC), a professional staffing services firm, reported fourth-quarter 2024 results that exceeded revenue expectations, sending its shares up 2.4% in after-hours trading on Monday.
The company reported revenue of $343.8 million for the quarter ended December 31, 2024, surpassing the analyst consensus estimate of $341.43 million. However, this represents a 5.4% decrease compared to $363.4 million in the same quarter last year. Kforce’s adjusted earnings per share (EPS) for the quarter came in at $0.60, meeting analyst expectations.
Joseph J. Liberatore, President and Chief Executive Officer of Kforce, commented on the results, stating, "We have been operating in an uncertain macro environment for more than two years, though demand for our technology services stabilized early in 2024, and remained stable throughout the year."
The company’s Technology Flex (NASDAQ:FLEX) revenue, its largest segment, decreased 3.7% YoY but showed a slight increase of 0.6% on a billing day basis compared to the previous quarter. FA Flex revenue saw a more significant decline of 22.1% YoY.
Looking ahead, Kforce provided guidance for the first quarter of 2025, projecting revenue between $330 million and $338 million, and EPS in the range of $0.44 to $0.52.
The company also announced an increase in its quarterly dividend to $0.39 per share, marking the sixth consecutive annual increase. This dividend will be payable on March 21, 2025, to shareholders of record as of March 7, 2025.
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