Robert Half Posts 35 Percent Revenue Rise
April 29, 2022 – Robert Half International Inc./(NYSE:RHI) posted first quarter revenues of $1.398 billion, a 35 percent increase from the same period a year ago. U.S. revenue at Robert Half rose 31.7 percent year over year in the first quarter. International revenue was up 23.4 percent or 28.7 percent on an adjusted basis. Protiviti revenues were $472.3 million, up 18.8 percent on an as-adjusted basis. U.S. Protiviti revenues of increased 20 percent on an adjusted basis. Non-U.S. Protiviti revenues increased 32 percent on an as-adjusted basis. For the quarter, net income was $168 million, or $1.52 per share, compared to $111 million, or $.98 per share, the prior year.
“We are very pleased to report another very strong quarter driven by a robust demand environment across the globe,” said M. Keith Waddell, president and CEO of Robert Half. “First quarter revenues grew 30 percent, and net income grew 52 percent on a year-over-year basis. Our permanent placement talent solutions operations again led the way, achieving year-over-year revenue growth of 67 percent. Our contract talent solutions and Protiviti also continued to post very strong results, growing year-over-year revenues by 30 percent and 19 percent, respectively,” he said.
New CMO
Robert Half recently named Chris Nelson as its chief marketing officer. In this role, he will lead the company’s global marketing strategy, overseeing digital and web marketing, data analytics, customer insights, experience design, and brand identity. Prior to joining Robert Half, Mr. Nelson was vice president of digital marketing at VMware, where he led a center of excellence team responsible for supporting the company’s online presence in 44 countries, including paid, owned and earned media; content development; search engine optimization; demand generation; email marketing; social media; and digital marketing transformation.
“Chris has a track record of success in accelerating the use of digital channels to create world-class customer experiences that drive revenue growth and customer loyalty,” said Mr. Waddell. “Digital marketing has never been more important for reaching and engaging customers, and we are excited for what the future holds with his leadership.”
Because long-term contracts are not a significant part of Robert Half’s business, future results cannot be reliably predicted by considering past trends or extrapolating past results. The company recently completed a multiyear process to unify its family of Robert Half-endorsed divisional brands to one single specialized brand, Robert Half.
Shares in Robert Half were down 7.73 percent to $100.91 upon release of its numbers, they were 20.91 percent above their 52-week low. The company had a market cap of $12.12 billion.
Related: Korn Ferry Posts 26 Percent Quarterly Revenue Gain
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media
