, /PRNewswire/ -- Robert Half Inc. (NYSE: RHI) today reported revenues and earnings for the third quarter ended September 30, 2026.
For the three months ended September 30, 2026, net income was $50 million, or $0.49 per share, on revenues of $1.359 billion. For the three months ended September 30, 2025, net income was $43 million, or $0.43 per share, on revenues of $1.354 billion.
For the nine months ended September 30, 2026, net income was $90 million, or $0.90 per share, on revenues of $3.996 billion. For the nine months ended September 30, 2025, net income was $101 million, or $1.01 per share, on revenues of $4.076 billion.
"For the third quarter of 2026, global enterprise revenues were $1.359 billion, roughly flat with last year on an adjusted basis," said M. Keith Waddell, president and chief executive officer of Robert Half. "Talent solutions returned to adjusted year-over-year revenue growth for the first time since 2022, with revenues increasing 2 percent. Global enterprise earnings exceeded the midpoint of our third-quarter guidance.
"Hiring activity continues to improve, supported by gradually improving market conditions. Demand for risk and compliance consulting services also showed encouraging signs of improvement during the quarter. Our combination of innovative technology, specialized expertise and high-touch client service positions us well to deliver the talent and consulting solutions clients need to advance their business priorities.
"We want to recognize and thank our employees around the world for their continued dedication to our clients. Their commitment is reflected in Robert Half's recent accolades, including being named among Fortune's Best Workplaces in Consulting & Professional Services, Forbes' World's Best Employers and Forbes' World's Top Companies for Women," Waddell concluded.
Robert Half management will host a conference call at 5 p.m. ET. The prepared remarks for this call are available now in the Investor Center of the Robert Half website (www.roberthalf.com/investor-center). Simply click on the Quarterly Conference Calls link. The dial-in number is 800-330-6710 (+1-213-279-1505 outside the United States and Canada). The confirmation code to access the call is 5205953.
A recorded replay of the call will be available for audio replay beginning October 22 and will remain accessible for 12 months at https://webcasts.com/RobertHalfQ32026. The conference call also will be archived in audio format on the Company's website at roberthalf.com.
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 last 12 months, Robert Half has been recognized as one of America's Most Innovative Companies by Fortune and, with Protiviti, has been named as a Fortune® Most Admired Company™ and one of the 100 Best Companies to Work For.
Certain information contained in Management's Discussion and Analysis and in other parts of this report 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 the Company's 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, 2025, 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 www.roberthalf.com/investor-center.
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
September 30,
Nine Months Ended
September 30,
2026
2025
2026
2025
(Unaudited)
(Unaudited)
Service revenues
$ 1,359,297
$ 1,354,477
$ 3,995,841
$ 4,076,127
Costs of services
827,202
850,246
2,509,810
2,563,377
Gross margin
532,095
504,231
1,486,031
1,512,750
Selling, general and administrative expenses
457,247
490,643
1,436,571
1,458,740
Operating income
74,848
13,588
49,460
54,010
(Income) loss from investments held in employee deferred
compensation trusts (which is completely offset by related costs and
expenses)
2,296
(47,621)
(90,355)
(85,104)
Interest income, net
(2,114)
(2,510)
(6,885)
(8,321)
Income before income taxes
74,666
63,719
146,700
147,435
Provision for income taxes
24,796
20,803
56,722
46,201
Net income
$ 49,870
$ 42,916
$ 89,978
$ 101,234
Diluted net income per share
$ 0.49
$ 0.43
$ 0.90
$ 1.01
Weighted average shares:
Basic
99,963
99,897
99,844
100,321
Diluted
100,940
100,041
100,383
100,529
ROBERT HALF INC.
SUPPLEMENTAL FINANCIAL INFORMATION
(in thousands)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2026
2025
2026
2025
(Unaudited)
(Unaudited)
SERVICE REVENUES INFORMATION
Contract talent solutions
Finance and accounting
$ 565,593
$ 553,364
$ 1,656,068
$ 1,671,923
Administrative and customer support
154,365
158,689
458,559
489,907
Technology
165,051
157,851
481,011
468,796
Elimination of intersegment revenues (1)
(126,179)
(123,681)
(364,387)
(361,390)
Total contract talent solutions
758,830
746,223
2,231,251
2,269,236
Permanent placement talent solutions
116,946
110,125
343,941
336,929
Protiviti
483,521
498,129
1,420,649
1,469,962
Total service revenues
$ 1,359,297
$ 1,354,477
$ 3,995,841
$ 4,076,127
(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's Protiviti 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.
September 30,
2026
2025
(Unaudited)
SELECTED BALANCE SHEET INFORMATION:
Cash and cash equivalents
$ 321,291
$ 365,289
Accounts receivable, net
$ 826,156
$ 838,002
Total assets
$ 2,849,502
$ 2,846,378
Total current liabilities
$ 1,439,794
$ 1,364,925
Total stockholders' equity
$ 1,208,970
$ 1,286,092
Nine Months Ended
September 30,
2026
2025
(Unaudited)
SELECTED CASH FLOW INFORMATION:
Capital expenditures, including capitalized cloud computing implementation costs
$ (46,863)
$ (62,243)
Net cash flows before financing activities
$ 47,147
$ 74,811
Repurchases of common stock
$ (6,770)
$ (92,069)
Dividends paid
$ (179,841)
$ (179,549)
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 EndedSeptember 30,
Relationships
Nine Months Ended September 30,
Relationships
As Reported
As Adjusted
As Reported
As Adjusted
As Reported
As Adjusted
As Reported
As Adjusted
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
Gross Margin
Contract talent solutions
$ 298,230
$ 290,121
$ 298,230
$ 290,121
39.3 %
38.9 %
39.3 %
38.9 %
$ 872,405
$ 884,421
$ 872,405
$ 884,421
39.1 %
39.0 %
39.1 %
39.0 %
Permanent placement talent
solutions
116,676
109,903
116,676
109,903
99.8 %
99.8 %
99.8 %
99.8 %
343,225
336,315
343,225
336,315
99.8 %
99.8 %
99.8 %
99.8 %
Total talent solutions
414,906
400,024
414,906
400,024
47.4 %
46.7 %
47.4 %
46.7 %
1,215,630
1,220,736
1,215,630
1,220,736
47.2 %
46.8 %
47.2 %
46.8 %
Protiviti
117,189
104,207
116,451
114,627
24.2 %
20.9 %
24.1 %
23.0 %
270,401
292,014
291,047
311,196
19.0 %
19.9 %
20.5 %
21.2 %
Total
$ 532,095
$ 504,231
$ 531,357
$ 514,651
39.1 %
37.2 %
39.1 %
38.0 %
$ 1,486,031
$ 1,512,750
$ 1,506,677
$ 1,531,932
37.2 %
37.1 %
37.7 %
37.6 %
The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the three months ended September 30, 2026 and 2025:
Three Months Ended September 30, 2026
Three Months Ended September 30, 2025
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
$ 298,230
39.3 %
$ 116,676
99.8 %
$ 414,906
47.4 %
$ 117,189
24.2 %
$ 532,095
39.1 %
$ 290,121
38.9 %
$ 109,903
99.8 %
$ 400,024
46.7 %
$ 104,207
20.9 %
$ 504,231
37.2 %
Adjustments (1)
—
—
—
—
—
—
(738)
(0.1 %)
(738)
—
—
—
—
—
—
—
10,420
2.1 %
10,420
0.8 %
As Adjusted
$ 298,230
39.3 %
$ 116,676
99.8 %
$ 414,906
47.4 %
$ 116,451
24.1 %
$ 531,357
39.1 %
$ 290,121
38.9 %
$ 109,903
99.8 %
$ 400,024
46.7 %
$ 114,627
23.0 %
$ 514,651
38.0 %
The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the nine months ended September 30, 2026 and 2025:
Nine Months Ended September 30, 2026
Nine Months Ended September 30, 2025
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
$ 872,405
39.1 %
$ 343,225
99.8 %
$ 1,215,630
47.2 %
$ 270,401
19.0 %
$ 1,486,031
37.2 %
$ 884,421
39.0 %
$ 336,315
99.8 %
$ 1,220,736
46.8 %
$ 292,014
19.9 %
$ 1,512,750
37.1 %
Adjustments (1)
—
—
—
—
—
—
20,646
1.5 %
20,646
0.5 %
—
—
—
—
—
—
19,182
1.3 %
19,182
0.5 %
As Adjusted
$ 872,405
39.1 %
$ 343,225
99.8 %
$ 1,215,630
47.2 %
$ 291,047
20.5 %
$ 1,506,677
37.7 %
$ 884,421
39.0 %
$ 336,315
99.8 %
$ 1,220,736
46.8 %
$ 311,196
21.2 %
$ 1,531,932
37.6 %
(1)
Changes in the Company's employee deferred compensation plan obligations related to Protiviti operations are included in costs of services, while the related investment (income) loss is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment (income) loss 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 EndedSeptember 30,
Relationships
Nine Months Ended September 30,
Relationships
As Reported
As Adjusted
As Reported
As Adjusted
As Reported
As Adjusted
As Reported
As Adjusted
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
Selling, General and
Administrative Expenses
Contract talent solutions
$ 274,371
$ 306,844
$ 275,701
$ 273,755
36.2 %
41.1 %
36.3 %
36.7 %
$ 884,490
$ 901,927
$ 822,759
$ 842,941
39.6 %
39.7 %
36.9 %
37.1 %
Permanent placement talent
solutions
103,720
106,404
103,948
102,292
88.7 %
96.6 %
88.9 %
92.9 %
321,525
323,757
313,547
316,821
93.5 %
96.1 %
91.2 %
94.0 %
Total talent solutions
378,091
413,248
379,649
376,047
43.2 %
48.3 %
43.4 %
43.9 %
1,206,015
1,225,684
1,136,306
1,159,762
46.8 %
47.0 %
44.1 %
44.5 %
Protiviti
79,156
77,395
79,156
77,395
16.4 %
15.5 %
16.4 %
15.5 %
230,556
233,056
230,556
233,056
16.2 %
15.9 %
16.2 %
15.9 %
Total
$ 457,247
$ 490,643
$ 458,805
$ 453,442
33.6 %
36.2 %
33.8 %
33.5 %
$ 1,436,571
$ 1,458,740
$ 1,366,862
$ 1,392,818
36.0 %
35.8 %
34.2 %
34.2 %
The following tables provide reconciliations of the non-GAAP adjusted selling, general and administrative expenses to reported selling, general and administrative expenses for the three months ended September 30, 2026 and 2025:
Three Months Ended September 30, 2026
Three Months Ended September 30, 2025
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
$ 274,371
36.2 %
$ 103,720
88.7 %
$ 378,091
43.2 %
$ 79,156
16.4 %
$ 457,247
33.6 %
$ 306,844
41.1 %
$ 106,404
96.6 %
$ 413,248
48.3 %
$ 77,395
15.5 %
$ 490,643
36.2 %
Adjustments (1)
1,330
0.1 %
228
0.2 %
1,558
0.2 %
—
—
1,558
0.2 %
(33,089)
(4.4 %)
(4,112)
(3.7 %)
(37,201)
(4.4 %)
—
—
(37,201)
(2.7 %)
As Adjusted
$ 275,701
36.3 %
$ 103,948
88.9 %
$ 379,649
43.4 %
$ 79,156
16.4 %
$ 458,805
33.8 %
$ 273,755
36.7 %
$ 102,292
92.9 %
$ 376,047
43.9 %
$ 77,395
15.5 %
$ 453,442
33.5 %
The following tables provide reconciliations of the non-GAAP adjusted selling, general and administrative expenses to reported selling, general and administrative expenses for the nine months ended September 30, 2026 and 2025:
Nine Months Ended September 30, 2026
Nine Months Ended September 30, 2025
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
$ 884,490
39.6 %
$ 321,525
93.5 %
$ 1,206,015
46.8 %
$ 230,556
16.2 %
$ 1,436,571
36.0 %
$ 901,927
39.7 %
$ 323,757
96.1 %
$ 1,225,684
47.0 %
$ 233,056
15.9 %
$ 1,458,740
35.8 %
Adjustments (1)
(61,731)
(2.7 %)
(7,978)
(2.3 %)
(69,709)
(2.7 %)
—
—
(69,709)
(1.8 %)
(58,986)
(2.6 %)
(6,936)
(2.1 %)
(65,922)
(2.5 %)
—
—
(65,922)
(1.6 %)
As Adjusted
$ 822,759
36.9 %
$ 313,547
91.2 %
$ 1,136,306
44.1 %
$ 230,556
16.2 %
$ 1,366,862
34.2 %
$ 842,941
37.1 %
$ 316,821
94.0 %
$ 1,159,762
44.5 %
$ 233,056
15.9 %
$ 1,392,818
34.2 %
(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) loss is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment (income) loss 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 EndedSeptember 30,
Relationships
Nine Months Ended September 30,
Relationships
As Reported
As Adjusted
As Reported
As Adjusted
As Reported
As Adjusted
As Reported
As Adjusted
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
Operating (Loss) Income
Contract talent solutions
$ 23,859
$ (16,723)
$ 22,529
$ 16,366
3.1 %
(2.2 %)
3.0 %
2.2 %
$ (12,085)
$ (17,506)
$ 49,646
$ 41,480
(0.5 %)
(0.8 %)
2.2 %
1.8 %
Permanent placement talent
solutions
12,956
3,499
12,728
7,611
11.1 %
3.2 %
10.9 %
6.9 %
21,700
12,558
29,678
19,494
6.3 %
3.7 %
8.6 %
5.8 %
Total talent solutions
36,815
(13,224)
35,257
23,977
4.2 %
(1.5 %)
4.0 %
2.8 %
9,615
(4,948)
79,324
60,974
0.4 %
(0.2 %)
3.1 %
2.3 %
Protiviti
38,033
26,812
37,295
37,232
7.9 %
5.4 %
7.7 %
7.5 %
39,845
58,958
60,491
78,140
2.8 %
4.0 %
4.3 %
5.3 %
Total
$ 74,848
$ 13,588
$ 72,552
$ 61,209
5.5 %
1.0 %
5.3 %
4.5 %
$ 49,460
$ 54,010
$ 139,815
$ 139,114
1.2 %
1.3 %
3.5 %
3.4 %
The following tables provide reconciliations of the non-GAAP adjusted operating income to reported operating (loss) income for the three months ended September 30, 2026 and 2025:
Three Months Ended September 30, 2026
Three Months Ended September 30, 2025
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 (Loss) Income
As Reported
$ 23,859
3.1 %
$ 12,956
11.1 %
$ 36,815
4.2 %
$ 38,033
7.9 %
$ 74,848
5.5 %
$ (16,723)
(2.2 %)
$ 3,499
3.2 %
$ (13,224)
(1.5 %)
$ 26,812
5.4 %
$ 13,588
1.0 %
Adjustments (1)
(1,330)
(0.1 %)
(228)
(0.2 %)
(1,558)
(0.2 %)
(738)
(0.2 %)
(2,296)
(0.2 %)
33,089
4.4 %
4,112
3.7 %
37,201
4.3 %
10,420
2.1 %
47,621
3.5 %
As Adjusted
$ 22,529
3.0 %
$ 12,728
10.9 %
$ 35,257
4.0 %
$ 37,295
7.7 %
$ 72,552
5.3 %
$ 16,366
2.2 %
$ 7,611
6.9 %
$ 23,977
2.8 %
$ 37,232
7.5 %
$ 61,209
4.5 %
The following tables provide reconciliations of the non-GAAP adjusted operating income to reported operating (loss) income for the nine months ended September 30, 2026 and 2025:
Nine Months Ended September 30, 2026
Nine Months Ended September 30, 2025
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 (Loss) Income
As Reported
$ (12,085)
(0.5 %)
$ 21,700
6.3 %
$ 9,615
0.4 %
$ 39,845
2.8 %
$ 49,460
1.2 %
$ (17,506)
(0.8 %)
$ 12,558
3.7 %
$ (4,948)
(0.2 %)
$ 58,958
4.0 %
$ 54,010
1.3 %
Adjustments (1)
61,731
2.7 %
7,978
2.3 %
69,709
2.7 %
20,646
1.5 %
90,355
2.3 %
58,986
2.6 %
6,936
2.1 %
65,922
2.5 %
19,182
1.3 %
85,104
2.1 %
As Adjusted
$ 49,646
2.2 %
$ 29,678
8.6 %
$ 79,324
3.1 %
$ 60,491
4.3 %
$ 139,815
3.5 %
$ 41,480
1.8 %
$ 19,494
5.8 %
$ 60,974
2.3 %
$ 78,140
5.3 %
$ 139,114
3.4 %
(1)
Changes in the Company's employee deferred compensation plan obligations are included in operating (loss) income. The non-GAAP financial adjustments shown in the table above are to reclassify investment (income) loss 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)
2025
2026
2025
2026
Q2
Q3
Q4
Q1
Q2
Q3
Q2
Q3
Q4
Q1
Q2
Q3
Global
Finance and accounting
-10.8
-9.9
-6.9
-4.3
-0.7
2.2
-10.8
-10.7
-7.8
-6.3
-1.3
1.5
Administrative and customer
support
-13.0
-11.1
-11.4
-9.8
-6.5
-2.7
-13.3
-12.1
-12.5
-11.8
-6.9
-3.1
Technology
0.3
-1.5
-1.0
0.8
2.4
4.6
0.4
-1.9
-1.2
-0.3
2.3
3.9
Elimination of intersegment
revenues (1)
2.9
1.1
3.0
-0.9
1.3
2.0
2.5
0.2
2.2
-2.8
1.2
1.7
Total contract talent solutions
-11.1
-10.1
-8.2
-5.0
-1.6
1.7
-11.1
-10.9
-9.0
-6.8
-2.1
1.0
Permanent placement talent
solutions
-12.5
-10.7
-5.1
-2.8
2.9
6.2
-12.6
-11.4
-5.9
-4.7
2.5
5.6
Total talent solutions
-11.3
-10.2
-7.9
-4.7
-1.0
2.3
-11.3
-11.0
-8.6
-6.6
-1.5
1.6
Protiviti
1.8
-2.6
-2.0
-2.2
-4.9
-2.9
1.5
-3.4
-2.8
-3.8
-5.0
-3.3
Total
-7.0
-7.5
-5.8
-3.8
-2.4
0.4
-7.1
-8.3
-6.6
-5.6
-2.8
-0.2
United States
Contract talent solutions
-10.7
-10.3
-9.5
-7.6
-2.1
2.5
-10.7
-10.4
-9.2
-7.5
-1.8
1.9
Permanent placement talent
solutions
-13.2
-11.3
-5.8
-5.9
6.0
8.1
-13.2
-11.4
-5.5
-5.7
6.3
7.5
Total talent solutions
-11.0
-10.4
-9.0
-7.4
-1.1
3.2
-11.0
-10.5
-8.8
-7.3
-0.8
2.6
Protiviti
-0.7
-5.5
-5.9
-6.4
-5.8
-3.9
-0.7
-5.6
-5.6
-6.3
-5.5
-4.5
Total
-7.4
-8.6
-7.9
-7.1
-2.9
0.5
-7.4
-8.7
-7.6
-6.9
-2.5
-0.1
International
Contract talent solutions
-12.5
-9.7
-4.0
4.3
-0.1
-1.1
-12.9
-12.4
-8.7
-3.4
-3.5
-1.1
Permanent placement talent
solutions
-10.6
-9.0
-3.5
5.7
-4.8
1.3
-11.2
-11.2
-7.0
-0.9
-7.1
1.6
Total talent solutions
-12.2
-9.6
-3.9
4.5
-0.9
-0.7
-12.6
-12.2
-8.4
-3.0
-4.1
-0.7
Protiviti
13.1
11.1
14.7
16.0
-1.2
0.8
10.7
7.5
9.1
8.1
-3.1
1.9
Total
-5.3
-3.8
1.8
8.1
-1.0
-0.2
-6.3
-6.7
-3.0
0.4
-3.8
0.1
(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.
British engineering firm Vesuvius (VSVS.L) said on Tuesday it was assessing a £1.37 billion ($1.81 billion) cash-and-stock bid from Austria-based RHI Magnesita N.V (RHIM.VI), sending shares up 31%.
The bid comes after Vesuvius rejected a series of proposals from RHI Magnesita over the past year. The latest proposal, valuing Vesuvius at 551 pence per share, represented a 47% premium to its closing price on Monday.
Vesuvius' stock was last up 23% at 461 pence on Tuesday, on track for its biggest intra-day gain since late 2008. RHI's London-listed shares fell 3%.
The UK firm said the latest proposed bid received support from Cevian Capital, its largest shareholder, based on LSEG data.
Both Vesuvius and RHI Magnesita make heat-resistant materials that line furnaces, ladles and vessels used in extreme high-temperature industrial processes such as steelmaking.
Vesuvius, in its first-half results in July, said its steel division lost market share as it has been grappling with rising costs, operational challenges and supply chain issues in North America.
The company traces its origins to 1916 in Pittsburgh, when the Arensburg brothers and their friend Arthur Jackman produced clay graphite crucibles for melting steel to capitalise on the American steel industry boom.
Canada Pension Plan Investment Board ve 2. čtvrtletí koupila nový podíl ve společnosti Robert Half za zhruba 6,662,000 USD. Fond držel 217 000 akcií, tedy 0,21 % společnosti.
Canada Pension Plan Investment Board purchased a new stake in shares of Robert Half Inc. (NYSE:RHI – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 217,000 shares of the business services provider’s stock, valued at approximately $6,662,000. Canada Pension Plan Investment Board owned 0.21% of Robert Half as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in RHI. Larson Financial Group LLC lifted its stake in shares of Robert Half by 321.0% in the 4th quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider’s stock worth $27,000 after purchasing an additional 764 shares during the period. Gilpin Wealth Management LLC bought a new stake in Robert Half during the fourth quarter valued at approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Robert Half during the second quarter valued at approximately $34,000. Elevation Wealth Partners LLC increased its holdings in Robert Half by 605.6% during the second quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider’s stock valued at $35,000 after buying an additional 975 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Robert Half by 94.3% during the fourth quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider’s stock valued at $37,000 after buying an additional 664 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth RHI has been the topic of several recent research reports. Zacks Research upgraded shares of Robert Half from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Truist Financial upped their price objective on Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group upped their price objective on Robert Half from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Friday, July 24th. Robert W. Baird set a $47.00 target price on Robert Half in a report on Monday, July 27th. Finally, BMO Capital Markets upgraded Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $34.75.
View Our Latest Report on Robert Half Robert Half Stock Up 0.8% NYSE:RHI opened at $45.34 on Friday. The business’s 50-day simple moving average is $38.47 and its two-hundred day simple moving average is $30.68. Robert Half Inc. has a 52 week low of $21.83 and a 52 week high of $46.70. The stock has a market cap of $4.64 billion, a PE ratio of 39.43 and a beta of 0.79.
Robert Half (NYSE:RHI – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Robert Half Inc. will post 1.27 earnings per share for the current fiscal year.
Robert Half Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.36 dividend on an annualized basis and a yield of 5.2%. Robert Half’s payout ratio is currently 205.22%.
About Robert Half (Free Report)
Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.
The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.
See Also Five stocks we like better than Robert Half From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash Venture Into High-Volatility Corners of the Market With These 3 ETFs 3 Retail Stocks to Watch After a Big Consumer Earnings Week
Receive News & Ratings for Robert Half Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Robert Half and related companies with MarketBeat.com's FREE daily email newsletter.
Robert Half za tři měsíce vzrostl o 62,1 %, ale obchoduje se na 24,9násobku forwardového zisku, nad průměrem v odvětví 17,6násobku. Tržby za 2. čtvrtletí klesly o 2,4 % na 1,34 miliardy USD.
Key Takeaways Robert Half gained 62.1% in three months as Talent Solutions improved sequentially and cash flow rebounded.2027 revenue is projected to rise 4.7% to $5.57B, while earnings are expected to jump 57.5% to $2 a share.Robert Half trades at 24.9X forward earnings, above its sub-industry's 17.6X and five-year median of 18.8X. Robert Half Inc. (RHI - Free Report) has gained 62.1% in the past three months as Talent Solutions improves sequentially and cash generation rebounds. The rally leaves investors weighing recovery against a richer valuation.
Near-term earnings expectations remain soft, while 2027 estimates point to a sharper rebound. That gap makes earnings improvement central to whether the current premium can hold.
Image Source: Zacks Investment Research
Robert Half's Recovery Faces a Valuation TestSecond-quarter revenues fell 2.4% year over year to $1.34 billion, but Talent Solutions revenues declined just 1%. Permanent Placement Talent Solutions rose 2.9% to $118 million, while Talent Solutions delivered a third straight quarter of sequential adjusted revenue growth.
The 2027 estimates are more encouraging. Revenues are projected to increase 4.7% to $5.57 billion and earnings are expected to rise 57.5% to $2 per share, supporting recovery if hiring demand improves.
RHI's Cash Flow and Dividend Offer SupportFree cash flow rebounded to $102 million from negative $121 million in the first quarter, while operating cash flow reached $109 million. Robert Half also paid a quarterly dividend of 59 cents per share, totaling $59 million.
Liquidity provides another cushion. The current ratio was 1.47 at June 30, and the company held $325 million of cash and $821 million of net receivables. It had no cash borrowings under its $100 million revolving credit facility.
Robert Half's Earnings Outlook Still Looks UnevenThe Zacks Consensus Estimate for 2026 earnings is $1.27 per share versus $1.33 in 2025. Revenues are projected to decline 1.2% to $5.32 billion, leaving the current fiscal year without meaningful top-line growth.
The earnings estimate for the current fiscal year has also declined 1.6% over the past four weeks. Until revisions turn more favorable, sequential staffing improvement has not translated into broad earnings momentum.
RHI's Premium Multiple Raises the HurdleRobert Half trades at 24.9X forward 12-month consensus earnings, above the staffing sub-industry's 17.6X, the Zacks Business Services sector's 18.0X and its five-year median of 18.8X. That premium requires stronger operating progress to become easier to defend.
Image Source: Zacks Investment Research
Peer results show an uneven staffing backdrop. Kelly Services, Inc. (KELYA - Free Report) reported second-quarter 2026 revenue down 5.8% year over year but cited improving underlying trends. Korn Ferry (KFY - Free Report) posted 7% year-over-year fee revenue growth in its fiscal fourth quarter, underscoring that recovery is not uniform across the group.
Robert Half's Risk Profile Limits ConvictionClients remain cautious, and Contract Talent Solutions hours worked fell 2.8% year over year in the second quarter. Revenue per employee declined 4%, 7% and 6.5% in 2023, 2024 and 2025, respectively, while limited long-term contracts constrain visibility.
Competition adds another execution test. First-half 2026 capitalized expenditures totaled $32 million, with about 78% directed to software and technology infrastructure. Management expects 2026 capitalized expenditures of $50 million to $70 million, making disciplined returns on those investments important.
Robert Half's Ratings Favor SelectivityRobert Half's improving cash generation and early staffing recovery are offset by soft 2026 estimates and a valuation premium. For investors weighing whether to buy, hold or wait, the current setup favors selectivity until earnings momentum becomes clearer.
The stock currently carries a Zacks Rank #4 (Sell), which reflects unfavorable near-term earnings estimate revisions.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Its Value Score of B is the most constructive reading, signaling a relatively favorable value profile within the Zacks framework.
The Growth Score of C, Momentum Score of F and VGM Score of C provide less support, particularly on timing. The 2027 outlook still points to recovery potential, but the ratings favor waiting for broader confirmation rather than relying on valuation or cash flow alone.
Robert Half čeká ve 3. čtvrtletí tržby 1,31–1,41 mld. USD a upravený EPS 43–53 centů. Talent Solutions má růst o 1 % až 5 %, zatímco Protiviti má klesnout asi o 6 %.
Key Takeaways RHI expects Q3 revenues of $1.31B-$1.41B and adjusted EPS of 43-53 cents.Robert Half sees adjusted Talent Solutions revenues growing 1%-5% in Q3.RHI expects Protiviti revenues to fall about 6% at the midpoint as regulatory shifts pressure activity. Robert Half Inc. (RHI - Free Report) enters the third quarter with guidance that puts its staffing rebound in focus. Management expects revenues of $1.31 billion to $1.41 billion and adjusted earnings of 43 cents to 53 cents per share.
Our Zacks Consensus Estimate for revenue for the third quarter is $1.36 billion, up marginally year over year. For EPS, the consensus estimate is pinned at 47 cents, increasing 9.3% year over year.
Image Source: Zacks Investment Research
At the midpoint, adjusted Talent Solutions revenues are expected to grow about 3% year over year, while Protiviti revenues are projected to decline about 6%. The quarter will test whether improving hiring activity can offset continued consulting softness.
Robert Half's Q3 Guidance Puts Talent in FocusTalent Solutions generated $865.4 million in second-quarter revenues, down 1% year over year on a reported basis. Management's third-quarter midpoint assumes a return to year-over-year growth for the business.
The company expects adjusted Talent Solutions revenue growth of 1% to 5% in the third quarter. Midpoint total revenues of $1.36 billion would be flat year over year on an adjusted basis, putting Talent Solutions at the center of the expected improvement.
RHI's Talent Solutions Recovery Is BroadeningPermanent Placement Talent Solutions revenues increased 2.9% to $118 million in the second quarter. Talent Solutions also delivered its third consecutive quarter of sequential revenue growth on an adjusted basis, while Technology was the strongest contract practice with adjusted growth of 2.3%.
ManpowerGroup Inc. (MAN - Free Report) reported improving demand and trends across parts of its portfolio in the second quarter. Kelly Services, Inc. (KELYA - Free Report) , a specialty talent solutions provider, said its second-quarter year-over-year revenue decline improved from the first quarter, adding context to the staffing recovery.
Robert Half's Protiviti Weakness Remains a DragProtiviti revenues declined 4.9% to $471 million in the second quarter. Management expects about a 6% decline at the midpoint of third-quarter guidance as shifts in the U.S. financial services regulatory environment pressure activity.
The engagement mix is changing, with fewer large regulatory remediation projects and more work tied to efficiency, productivity and advanced technologies. Protiviti recorded $7 million of severance costs in the second quarter, with restructuring actions expected to generate $45 million in annualized savings.
RHI's Margin Mix Makes Execution CriticalTalent Solutions gross margin improved to 47.4% from 47.1% a year earlier, while Contract Talent Solutions held its gross margin at 39.1%. Contract bill rates increased 2.3% year over year, helping preserve spreads despite lower volumes.
Protiviti's adjusted gross margin fell to 18.5% from 22.3%. Third-quarter guidance calls for adjusted gross margin of 23% to 25% and adjusted operating margin of 6% to 8% at Protiviti, making execution important as the segment absorbs a different project mix.
Robert Half's July Trends Offer an Early ReadAdjusted Contract Talent Solutions revenues were down 1% in the first two weeks of July, compared with a 2% decline in June. Permanent Placement revenues increased 4% during the first three weeks of July, matching June's growth rate.
Management cautioned that these are very brief periods. Even so, they provide an early benchmark for whether improving client activity can persist long enough to support the third-quarter Talent Solutions growth outlook.
RHI's Signals Keep the Outlook BalancedThe third quarter is a test of operating mix. Talent Solutions needs to sustain its recovery while Protiviti works through regulatory-driven pressure and rebuilds margins.
RHI currently carries a Zacks Rank #4 (Sell), a Value Score of B, Growth Score of C, Momentum Score of F and VGM Score of C.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Value Score is a relative positive, but the weak Momentum Score and middle-range Growth and VGM Scores temper the picture. The Zacks Style Scores complement rather than override the Zacks Rank, which points to an unfavorable near-term earnings-estimate revision trend.
Robert Half schválila čtvrtletní peněžní dividendu 0,59 USD na akcii kmenových akcií. Vyplacena bude 15. září 2026 akcionářům zapsaným k 25. srpnu 2026.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Robert Half Inc. (NYSE: RHI) today announced that its board of directors declared a quarterly cash dividend of $0.59 per share on the company's common stock. The dividend is payable on September 15, 2026, to shareholders of record at the close of business on August 25, 2026.
About Robert Half
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 has been recognized as one of America's Most Innovative Companies by Fortune and, with Protiviti, has been named as a Fortune® Most Admired Company™ and one of the 100 Best Companies to Work For®. Explore talent solutions, research and insights at roberthalf.com.
Robert Half ve 2. čtvrtletí splnil odhad EPS na 26 centů a tržby 1,34 miliardy USD překonaly konsensus. Pro 3. čtvrtletí čeká upravený EPS 45–53 centů, přičemž střed rozpětí je nad odhadem.
Key Takeaways Robert Half matched Q2 EPS estimates as Talent Solutions delivered sequential revenue improvement.RHI expects Q3 adjusted EPS of 45 cents to 53 cents, with the midpoint above the Zacks Consensus Estimate.Robert Half sees improving hiring demand as Permanent Placement grows & Contract Talent Solutions stabilizes. Robert Half Inc. (RHI - Free Report) reported second-quarter 2026 adjusted earnings of 26 cents per share, which matched the Zacks Consensus Estimate but declined 36.6% year over year. Revenues of $1.34 billion surpassed the consensus estimate by 0.8% but decreased 2.4% year over year.
However, investors remain optimistic due to strong earnings guidance for the third quarter of 2026, as the stock has gained 5% since the company released results on July 23.
The company guided adjusted earnings per share between 45 cents and 53 cents, with the midpoint of 49 cents being higher than the Zacks Consensus Estimate of 47 cents.
Over the past year, RHI's shares have risen 3.5% compared with the industry's 3.7% growth. The Zacks S&P 500 composite has gained 18.4% during the said time frame.
The earnings performance of the reported quarter reflected improving demand in Talent Solutions, partly offset by continued weakness at Protiviti and restructuring-related costs.
Talent Solutions Show Sequential ImprovementTalent Solutions revenues totaled $865.4 million, down 1% year over year. Within the segment, Contract Talent Solutions revenues declined 1.6% to $747.4 million, while Permanent Placement Talent Solutions revenues increased 2.9% to $118 million, marking a return to year-over-year growth.
Protiviti revenues fell 4.9% year over year to $471 million, reflecting ongoing softness in the U.S. financial services regulatory environment. Management noted that Talent Solutions delivered its third consecutive quarter of sequential revenue growth on an adjusted basis, while hiring demand continued to improve.
RHI’s MarginsContract Talent Solutions' gross margin remained 39.1%, unchanged from the prior-year quarter. Overall, Talent Solutions’ gross margin improved to 47.4% from 47.1% a year ago.
Protiviti's reported gross margin declined to 13.5% from 19.7%. On an adjusted basis, gross margin was 18.5%, down from 22.3%, reflecting approximately $7 million in severance costs related to restructuring actions.
Profitability Pressured by Higher ExpensesThe company reported an operating loss of $62.3 million, against an operating income of $1.5 million in the year-ago quarter. Adjusted operating income was $38.6 million, representing 2.9% of revenues.
The quarter included a $100.9 million gain from investments held in employee deferred compensation trusts, fully offset by related compensation expenses, resulting in no impact on net income. The effective tax rate increased to 35% from 33% a year ago.
Balance Sheet & Cash FlowRobert Half ended the quarter with $324.7 million in cash and cash equivalents, compared with $380.5 million a year earlier. Accounts receivable stood at $821.4 million. Cash flow from operations totaled $109 million in the quarter. The company paid a quarterly dividend of 59 cents per share, returning $59 million to its shareholders.
RHI’s Other GuidanceFor the third quarter of 2026, Robert Half expects revenues to be between $1.31 billion and $1.41 billion, with the midpoint of $1.36 billion in line with the Zacks Consensus Estimate.
At the midpoint, management expects Talent Solutions revenue growth of about 3% year over year, while Protiviti revenues are projected to decline about 6%. Management noted improving hiring activity, with Contract Talent Solutions revenues down 1% in the first two weeks of July 2026 and Permanent Placement revenues up 4% during the first three weeks of the month.
Currently, Robert Half carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Earnings SnapshotsWaste Connections, Inc. (WCN - Free Report) reported impressive second-quarter 2026 results. WCN’s adjusted earnings of $1.50 per share outpaced the consensus mark by 11.1% and rose 16.3% from the year-ago quarter. Waste Connections’ total revenues of $2.56 billion surpassed the consensus mark by 1.1% and increased 6.4% year over year.
Rollins, Inc. (ROL - Free Report) posted unimpressive second-quarter 2026 results. ROL’s adjusted earnings of 32 cents per share missed the Zacks Consensus Estimate by 5.9% but rose 6.7% year over year. Total revenues of $1.08 billion fell short of the consensus estimate by 1.7% but increased 7.9% from the year-ago quarter.
, /PRNewswire/ -- Robert Half Inc. (NYSE: RHI) today reported revenues and earnings for the second quarter ended June 30, 2026.
For the three months ended June 30, 2026, net income was $26 million, or $0.26 per share, on revenues of $1.336 billion. For the three months ended June 30, 2025, net income was $41 million, or $0.41 per share, on revenues of $1.370 billion.
For the six months ended June 30, 2026, net income was $40 million, or $0.40 per share, on revenues of $2.637 billion. For the six months ended June 30, 2025, net income was $58 million, or $0.58 per share, on revenues of $2.722 billion.
"For the second quarter of 2026, global enterprise revenues were $1.336 billion, down 2 percent from last year's second quarter on a reported basis and down 3 percent on an adjusted basis," said M. Keith Waddell, president and chief executive officer of Robert Half. "Talent solutions delivered its third consecutive quarter of sequential revenue growth on an adjusted basis, while its permanent placement operations also posted adjusted year-over-year revenue growth of 2.5 percent. Global enterprise revenues and earnings exceeded the midpoint of our second-quarter guidance.
"Hiring demand continues to improve, and market conditions are increasingly more supportive of our business. Our unique combination of award-winning high-tech capabilities and high-touch expertise positions us well to help clients navigate a dynamic business environment and connect them with the specialized talent and consulting services they need.
"We would like to thank our global workforce for their continued dedication. Their commitment to excellence was recently recognized as Robert Half earned the No. 1 ranking among Forbes' America's Best Professional Recruiting Firms," Waddell concluded.
Robert Half management will host a conference call at 5 p.m. ET. The prepared remarks for this call are available now in the Investor Center of the Robert Half website (www.roberthalf.com/investor-center). Simply click on the Quarterly Conference Calls link. The dial-in number is 800-330-6710 (+1-213-279-1505 outside the United States and Canada). The confirmation code to access the call is 6715269.
A recorded replay of the call will be available for audio replay beginning July 23 and will remain accessible for 12 months at https://webcasts.com/RobertHalfQ22026. The conference call also will be archived in audio format on the Company's website at roberthalf.com.
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 last 12 months, Robert Half has been recognized as one of America's Most Innovative Companies by Fortune and, with Protiviti, has been named as a Fortune® Most Admired Company™ and one of the 100 Best Companies to Work For.
Certain information contained in Management's Discussion and Analysis and in other parts of this report 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 the Company's 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, 2025, 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 www.roberthalf.com/investor-center.
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,
2026
2025
2026
2025
(Unaudited)
(Unaudited)
Service revenues
$ 1,336,365
$ 1,369,743
$ 2,636,544
$ 2,721,650
Costs of services
862,338
860,269
1,682,608
1,713,131
Gross margin
474,027
509,474
953,936
1,008,519
Selling, general and administrative expenses
536,326
507,934
979,324
968,097
Operating (loss) income
(62,299)
1,540
(25,388)
40,422
(Income) loss from investments held in employee deferred
compensation trusts (which is completely offset by related costs and
expenses)
(100,878)
(57,654)
(92,651)
(37,483)
Interest income, net
(2,013)
(2,239)
(4,771)
(5,811)
Income before income taxes
40,592
61,433
72,034
83,716
Provision for income taxes
14,274
20,465
31,926
25,398
Net income
$ 26,318
$ 40,968
$ 40,108
$ 58,318
Diluted net income per share
$ 0.26
$ 0.41
$ 0.40
$ 0.58
Weighted average shares:
Basic
99,941
100,410
99,783
100,537
Diluted
100,307
100,539
100,104
100,776
ROBERT HALF INC.
SUPPLEMENTAL FINANCIAL INFORMATION
(in thousands)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(Unaudited)
(Unaudited)
SERVICE REVENUES INFORMATION
Contract talent solutions
Finance and accounting
$ 551,722
$ 555,626
$ 1,090,475
$ 1,118,559
Administrative and customer support
154,859
165,591
304,194
331,218
Technology
162,202
158,403
315,960
310,945
Elimination of intersegment revenues (1)
(121,378)
(119,812)
(238,208)
(237,709)
Total contract talent solutions
747,405
759,808
1,472,421
1,523,013
Permanent placement talent solutions
117,991
114,713
226,995
226,804
Protiviti
470,969
495,222
937,128
971,833
Total service revenues
$ 1,336,365
$ 1,369,743
$ 2,636,544
$ 2,721,650
(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's Protiviti 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,
2026
2025
(Unaudited)
SELECTED BALANCE SHEET INFORMATION:
Cash and cash equivalents
$ 324,714
$ 380,547
Accounts receivable, net
$ 821,442
$ 826,872
Total assets
$ 2,858,499
$ 2,832,196
Total current liabilities
$ 1,456,057
$ 1,322,626
Total stockholders' equity
$ 1,207,659
$ 1,311,918
Six Months Ended June 30,
2026
2025
(Unaudited)
SELECTED CASH FLOW INFORMATION:
Depreciation
$ 24,639
$ 25,608
Capitalized cloud computing implementation costs
$ 16,169
$ 13,217
Capital expenditures
$ 15,651
$ 27,573
Open market repurchases of common stock (shares)
—
1,128
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 Ended June 30,
Relationships
Six Months Ended June 30,
Relationships
As Reported
As Adjusted
As Reported
As Adjusted
As Reported
As Adjusted
As Reported
As Adjusted
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
Gross Margin
Contract talent solutions
$ 292,422
$ 297,367
$ 292,422
$ 297,367
39.1 %
39.1 %
39.1 %
39.1 %
$ 574,175
$ 594,300
$ 574,175
$ 594,300
39.0 %
39.0 %
39.0 %
39.0 %
Permanent placement talent
solutions
117,823
114,551
117,823
114,551
99.9 %
99.9 %
99.9 %
99.9 %
226,549
226,412
226,549
226,412
99.8 %
99.8 %
99.8 %
99.8 %
Total talent solutions
410,245
411,918
410,245
411,918
47.4 %
47.1 %
47.4 %
47.1 %
800,724
820,712
800,724
820,712
47.1 %
46.9 %
47.1 %
46.9 %
Protiviti
63,782
97,556
87,170
110,357
13.5 %
19.7 %
18.5 %
22.3 %
153,212
187,807
174,596
196,569
16.3 %
19.3 %
18.6 %
20.2 %
Total
$ 474,027
$ 509,474
$ 497,415
$ 522,275
35.5 %
37.2 %
37.2 %
38.1 %
$ 953,936
$ 1,008,519
$ 975,320
$ 1,017,281
36.2 %
37.1 %
37.0 %
37.4 %
The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the three months ended June 30, 2026 and 2025:
Three Months Ended June 30, 2026
Three Months Ended June 30, 2025
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
$ 292,422
39.1 %
$ 117,823
99.9 %
$ 410,245
47.4 %
$ 63,782
13.5 %
$ 474,027
35.5 %
$ 297,367
39.1 %
$ 114,551
99.9 %
$ 411,918
47.1 %
$ 97,556
19.7 %
$ 509,474
37.2 %
Adjustments (1)
—
—
—
—
—
—
23,388
5.0 %
23,388
1.7 %
—
—
—
—
—
—
12,801
2.6 %
12,801
0.9 %
As Adjusted
$ 292,422
39.1 %
$ 117,823
99.9 %
$ 410,245
47.4 %
$ 87,170
18.5 %
$ 497,415
37.2 %
$ 297,367
39.1 %
$ 114,551
99.9 %
$ 411,918
47.1 %
$ 110,357
22.3 %
$ 522,275
38.1 %
The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the six months ended June 30, 2026 and 2025:
Six Months Ended June 30, 2026
Six Months Ended June 30, 2025
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
$ 574,175
39.0 %
$ 226,549
99.8 %
$ 800,724
47.1 %
$ 153,212
16.3 %
$ 953,936
36.2 %
$ 594,300
39.0 %
$ 226,412
99.8 %
$ 820,712
46.9 %
$ 187,807
19.3 %
$ 1,008,519
37.1 %
Adjustments (1)
—
—
—
—
—
—
21,384
2.3 %
21,384
0.8 %
—
—
—
—
—
—
8,762
0.9 %
8,762
0.3 %
As Adjusted
$ 574,175
39.0 %
$ 226,549
99.8 %
$ 800,724
47.1 %
$ 174,596
18.6 %
$ 975,320
37.0 %
$ 594,300
39.0 %
$ 226,412
99.8 %
$ 820,712
46.9 %
$ 196,569
20.2 %
$ 1,017,281
37.4 %
(1)
Changes in the Company's employee deferred compensation plan obligations related to Protiviti operations are included in costs of services, while the related investment (income) loss is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment (income) loss 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
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
Selling, General and
Administrative Expenses
Contract talent solutions
$ 343,038
$ 318,871
$ 274,618
$ 278,944
45.9 %
42.0 %
36.7 %
36.7 %
$ 610,119
$ 595,083
$ 547,058
$ 569,186
41.4 %
39.1 %
37.2 %
37.4 %
Permanent placement talent
solutions
115,999
111,218
106,929
106,292
98.3 %
97.0 %
90.6 %
92.7 %
217,805
217,353
209,599
214,529
96.0 %
95.8 %
92.3 %
94.6 %
Total talent solutions
459,037
430,089
381,547
385,236
53.0 %
49.2 %
44.1 %
44.1 %
827,924
812,436
756,657
783,715
48.7 %
46.4 %
44.5 %
44.8 %
Protiviti
77,289
77,845
77,289
77,845
16.4 %
15.7 %
16.4 %
15.7 %
151,400
155,661
151,400
155,661
16.2 %
16.0 %
16.2 %
16.0 %
Total
$ 536,326
$ 507,934
$ 458,836
$ 463,081
40.1 %
37.1 %
34.3 %
33.8 %
$ 979,324
$ 968,097
$ 908,057
$ 939,376
37.1 %
35.6 %
34.4 %
34.5 %
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 June 30, 2026 and 2025:
Three Months Ended June 30, 2026
Three Months Ended June 30, 2025
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
$ 343,038
45.9 %
$ 115,999
98.3 %
$ 459,037
53.0 %
$ 77,289
16.4 %
$ 536,326
40.1 %
$ 318,871
42.0 %
$ 111,218
97.0 %
$ 430,089
49.2 %
$ 77,845
15.7 %
$ 507,934
37.1 %
Adjustments (1)
(68,420)
(9.2 %)
(9,070)
(7.7 %)
(77,490)
(8.9 %)
—
—
(77,490)
(5.8 %)
(39,927)
(5.3 %)
(4,926)
(4.3 %)
(44,853)
(5.1 %)
—
—
(44,853)
(3.3 %)
As Adjusted
$ 274,618
36.7 %
$ 106,929
90.6 %
$ 381,547
44.1 %
$ 77,289
16.4 %
$ 458,836
34.3 %
$ 278,944
36.7 %
$ 106,292
92.7 %
$ 385,236
44.1 %
$ 77,845
15.7 %
$ 463,081
33.8 %
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 June 30, 2026 and 2025:
Six Months Ended June 30, 2026
Six Months Ended June 30, 2025
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
$ 610,119
41.4 %
$ 217,805
96.0 %
$ 827,924
48.7 %
$ 151,400
16.2 %
$ 979,324
37.1 %
$ 595,083
39.1 %
$ 217,353
95.8 %
$ 812,436
46.4 %
$ 155,661
16.0 %
$ 968,097
35.6 %
Adjustments (1)
(63,061)
(4.2 %)
(8,206)
(3.7 %)
(71,267)
(4.2 %)
—
—
(71,267)
(2.7 %)
(25,897)
(1.7 %)
(2,824)
(1.2 %)
(28,721)
(1.6 %)
—
—
(28,721)
(1.1 %)
As Adjusted
$ 547,058
37.2 %
$ 209,599
92.3 %
$ 756,657
44.5 %
$ 151,400
16.2 %
$ 908,057
34.4 %
$ 569,186
37.4 %
$ 214,529
94.6 %
$ 783,715
44.8 %
$ 155,661
16.0 %
$ 939,376
34.5 %
(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) loss is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment (income) loss 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
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
2026
2025
Operating (Loss) Income
Contract talent solutions
$ (50,616)
$ (21,504)
$ 17,804
$ 18,423
(6.8 %)
(2.8 %)
2.4 %
2.4 %
$ (35,944)
$ (783)
$ 27,117
$ 25,114
(2.4 %)
(0.1 %)
1.8 %
1.6 %
Permanent placement talent
solutions
1,824
3,333
10,894
8,259
1.5 %
2.9 %
9.2 %
7.2 %
8,744
9,059
16,950
11,883
3.9 %
4.0 %
7.5 %
5.2 %
Total talent solutions
(48,792)
(18,171)
28,698
26,682
(5.6 %)
(2.1 %)
3.3 %
3.1 %
(27,200)
8,276
44,067
36,997
(1.6 %)
0.5 %
2.6 %
2.1 %
Protiviti
(13,507)
19,711
9,881
32,512
(2.9 %)
4.0 %
2.1 %
6.6 %
1,812
32,146
23,196
40,908
0.2 %
3.3 %
2.5 %
4.2 %
Total
$ (62,299)
$ 1,540
$ 38,579
$ 59,194
(4.7 %)
0.1 %
2.9 %
4.3 %
$ (25,388)
$ 40,422
$ 67,263
$ 77,905
(1.0 %)
1.5 %
2.6 %
2.9 %
The following tables provide reconciliations of the non-GAAP adjusted operating income to reported operating (loss) income for the three months ended June 30, 2026 and 2025:
Three Months Ended June 30, 2026
Three Months Ended June 30, 2025
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 (Loss) Income
As Reported
$ (50,616)
(6.8 %)
$ 1,824
1.5 %
$ (48,792)
(5.6 %)
$ (13,507)
(2.9 %)
$ (62,299)
(4.7 %)
$ (21,504)
(2.8 %)
$ 3,333
2.9 %
$ (18,171)
(2.1 %)
$ 19,711
4.0 %
$ 1,540
0.1 %
Adjustments (1)
68,420
9.2 %
9,070
7.7 %
77,490
8.9 %
23,388
5.0 %
100,878
7.6 %
39,927
5.2 %
4,926
4.3 %
44,853
5.2 %
12,801
2.6 %
57,654
4.2 %
As Adjusted
$ 17,804
2.4 %
$ 10,894
9.2 %
$ 28,698
3.3 %
$ 9,881
2.1 %
$ 38,579
2.9 %
$ 18,423
2.4 %
$ 8,259
7.2 %
$ 26,682
3.1 %
$ 32,512
6.6 %
$ 59,194
4.3 %
The following tables provide reconciliations of the non-GAAP adjusted operating income to reported operating (loss) income for the six months ended June 30, 2026 and 2025:
Six Months Ended June 30, 2026
Six Months Ended June 30, 2025
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 (Loss) Income
As Reported
$ (35,944)
(2.4 %)
$ 8,744
3.9 %
$ (27,200)
(1.6 %)
$ 1,812
0.2 %
$ (25,388)
(1.0 %)
$ (783)
(0.1 %)
$ 9,059
4.0 %
$ 8,276
0.5 %
$ 32,146
3.3 %
$ 40,422
1.5 %
Adjustments (1)
63,061
4.2 %
8,206
3.6 %
71,267
4.2 %
21,384
2.3 %
92,651
3.6 %
25,897
1.7 %
2,824
1.2 %
28,721
1.6 %
8,762
0.9 %
37,483
1.4 %
As Adjusted
$ 27,117
1.8 %
$ 16,950
7.5 %
$ 44,067
2.6 %
$ 23,196
2.5 %
$ 67,263
2.6 %
$ 25,114
1.6 %
$ 11,883
5.2 %
$ 36,997
2.1 %
$ 40,908
4.2 %
$ 77,905
2.9 %
(1)
Changes in the Company's employee deferred compensation plan obligations are included in operating (loss) income. The non-GAAP financial adjustments shown in the table above are to reclassify investment (income) loss 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)
2025
2026
2025
2026
Q1
Q2
Q3
Q4
Q1
Q2
Q1
Q2
Q3
Q4
Q1
Q2
Global
Finance and accounting
-12.3
-10.8
-9.9
-6.9
-4.3
-0.7
-10.0
-10.8
-10.7
-7.8
-6.3
-1.3
Administrative and customer support
-17.2
-13.0
-11.1
-11.4
-9.8
-6.5
-15.2
-13.3
-12.1
-12.5
-11.8
-6.9
Technology
-3.4
0.3
-1.5
-1.0
0.8
2.4
-1.3
0.4
-1.9
-1.2
-0.3
2.3
Elimination of intersegment revenues (1)
4.5
2.9
1.1
3.0
-0.9
1.3
6.8
2.5
0.2
2.2
-2.8
1.2
Total contract talent solutions
-14.0
-11.1
-10.1
-8.2
-5.0
-1.6
-11.8
-11.1
-10.9
-9.0
-6.8
-2.1
Permanent placement talent solutions
-10.2
-12.5
-10.7
-5.1
-2.8
2.9
-7.8
-12.6
-11.4
-5.9
-4.7
2.5
Total talent solutions
-13.5
-11.3
-10.2
-7.9
-4.7
-1.0
-11.3
-11.3
-11.0
-8.6
-6.6
-1.5
Protiviti
2.7
1.8
-2.6
-2.0
-2.2
-4.9
4.7
1.5
-3.4
-2.8
-3.8
-5.0
Total
-8.4
-7.0
-7.5
-5.8
-3.8
-2.4
-6.2
-7.1
-8.3
-6.6
-5.6
-2.8
United States
Contract talent solutions
-11.8
-10.7
-10.3
-9.5
-7.6
-2.1
-10.7
-10.7
-10.4
-9.2
-7.5
-1.8
Permanent placement talent solutions
-8.5
-13.2
-11.3
-5.8
-5.9
6.0
-7.3
-13.2
-11.4
-5.5
-5.7
6.3
Total talent solutions
-11.4
-11.0
-10.4
-9.0
-7.4
-1.1
-10.3
-11.0
-10.5
-8.8
-7.3
-0.8
Protiviti
2.3
-0.7
-5.5
-5.9
-6.4
-5.8
3.6
-0.7
-5.6
-5.6
-6.3
-5.5
Total
-6.9
-7.4
-8.6
-7.9
-7.1
-2.9
-5.7
-7.4
-8.7
-7.6
-6.9
-2.5
International
Contract talent solutions
-20.7
-12.5
-9.7
-4.0
4.3
-0.1
-16.2
-12.9
-12.4
-8.7
-3.4
-3.5
Permanent placement talent solutions
-14.5
-10.6
-9.0
-3.5
5.7
-4.8
-10.1
-11.2
-11.2
-7.0
-0.9
-7.1
Total talent solutions
-19.8
-12.2
-9.6
-3.9
4.5
-0.9
-15.3
-12.6
-12.2
-8.4
-3.0
-4.1
Protiviti
4.4
13.1
11.1
14.7
16.0
-1.2
7.9
10.7
7.5
9.1
8.1
-3.1
Total
-13.6
-5.3
-3.8
1.8
8.1
-1.0
-9.4
-6.3
-6.7
-3.0
0.4
-3.8
(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.