Original source text
, /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.
ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):
Year-Over-Year Revenue Growth – GLOBAL
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Finance and accounting
As Reported
-12.3
-10.8
-9.9
-6.9
-4.3
-0.7
Billing Days Impact
1.3
0.4
-0.2
0.3
0.0
0.1
Currency Impact
1.0
-0.4
-0.6
-1.2
-2.0
-0.7
As Adjusted
-10.0
-10.8
-10.7
-7.8
-6.3
-1.3
Administrative and customer support
As Reported
-17.2
-13.0
-11.1
-11.4
-9.8
-6.5
Billing Days Impact
1.3
0.4
0.0
0.3
0.0
0.1
Currency Impact
0.7
-0.7
-1.0
-1.4
-2.0
-0.5
As Adjusted
-15.2
-13.3
-12.1
-12.5
-11.8
-6.9
Technology
As Reported
-3.4
0.3
-1.5
-1.0
0.8
2.4
Billing Days Impact
1.4
0.5
-0.1
0.3
0.0
0.2
Currency Impact
0.7
-0.4
-0.3
-0.5
-1.1
-0.3
As Adjusted
-1.3
0.4
-1.9
-1.2
-0.3
2.3
Elimination of intersegment revenues
As Reported
4.5
2.9
1.1
3.0
-0.9
1.3
Billing Days Impact
1.6
0.5
-0.1
0.4
0.0
0.2
Currency Impact
0.7
-0.9
-0.8
-1.2
-1.9
-0.3
As Adjusted
6.8
2.5
0.2
2.2
-2.8
1.2
Total contract talent solutions
As Reported
-14.0
-11.1
-10.1
-8.2
-5.0
-1.6
Billing Days Impact
1.3
0.4
-0.2
0.3
0.0
0.2
Currency Impact
0.9
-0.4
-0.6
-1.1
-1.8
-0.7
As Adjusted
-11.8
-11.1
-10.9
-9.0
-6.8
-2.1
Permanent placement talent solutions
As Reported
-10.2
-12.5
-10.7
-5.1
-2.8
2.9
Billing Days Impact
1.3
0.5
-0.1
0.3
0.0
0.1
Currency Impact
1.1
-0.6
-0.6
-1.1
-1.9
-0.5
As Adjusted
-7.8
-12.6
-11.4
-5.9
-4.7
2.5
Total talent solutions
As Reported
-13.5
-11.3
-10.2
-7.9
-4.7
-1.0
Billing Days Impact
1.2
0.4
-0.2
0.4
0.0
0.2
Currency Impact
1.0
-0.4
-0.6
-1.1
-1.9
-0.7
As Adjusted
-11.3
-11.3
-11.0
-8.6
-6.6
-1.5
Protiviti
As Reported
2.7
1.8
-2.6
-2.0
-2.2
-4.9
Billing Days Impact
1.5
0.4
-0.2
0.3
0.0
0.2
Currency Impact
0.5
-0.7
-0.6
-1.1
-1.6
-0.3
As Adjusted
4.7
1.5
-3.4
-2.8
-3.8
-5.0
Total
As Reported
-8.4
-7.0
-7.5
-5.8
-3.8
-2.4
Billing Days Impact
1.4
0.4
-0.2
0.3
0.0
0.1
Currency Impact
0.8
-0.5
-0.6
-1.1
-1.8
-0.5
As Adjusted
-6.2
-7.1
-8.3
-6.6
-5.6
-2.8
ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):
Year-Over-Year Revenue Growth – UNITED STATES
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Contract talent solutions
As Reported
-11.8
-10.7
-10.3
-9.5
-7.6
-2.1
Billing Days Impact
1.1
0.0
-0.1
0.3
0.1
0.3
Currency Impact
―
―
―
―
―
―
As Adjusted
-10.7
-10.7
-10.4
-9.2
-7.5
-1.8
Permanent placement talent solutions
As Reported
-8.5
-13.2
-11.3
-5.8
-5.9
6.0
Billing Days Impact
1.2
0.0
-0.1
0.3
0.2
0.3
Currency Impact
―
―
―
―
―
―
As Adjusted
-7.3
-13.2
-11.4
-5.5
-5.7
6.3
Total talent solutions
As Reported
-11.4
-11.0
-10.4
-9.0
-7.4
-1.1
Billing Days Impact
1.1
0.0
-0.1
0.2
0.1
0.3
Currency Impact
―
―
―
―
―
―
As Adjusted
-10.3
-11.0
-10.5
-8.8
-7.3
-0.8
Protiviti
As Reported
2.3
-0.7
-5.5
-5.9
-6.4
-5.8
Billing Days Impact
1.3
0.0
-0.1
0.3
0.1
0.3
Currency Impact
―
―
―
―
―
―
As Adjusted
3.6
-0.7
-5.6
-5.6
-6.3
-5.5
Total
As Reported
-6.9
-7.4
-8.6
-7.9
-7.1
-2.9
Billing Days Impact
1.2
0.0
-0.1
0.3
0.2
0.4
Currency Impact
―
―
―
―
―
―
As Adjusted
-5.7
-7.4
-8.7
-7.6
-6.9
-2.5
ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):
Year-Over-Year Revenue Growth – INTERNATIONAL
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Contract talent solutions
As Reported
-20.7
-12.5
-9.7
-4.0
4.3
-0.1
Billing Days Impact
0.6
1.4
0.0
0.1
0.6
-0.5
Currency Impact
3.9
-1.8
-2.7
-4.8
-8.3
-2.9
As Adjusted
-16.2
-12.9
-12.4
-8.7
-3.4
-3.5
Permanent placement talent solutions
As Reported
-14.5
-10.6
-9.0
-3.5
5.7
-4.8
Billing Days Impact
0.6
1.4
0.0
0.2
0.6
-0.4
Currency Impact
3.8
-2.0
-2.2
-3.7
-7.2
-1.9
As Adjusted
-10.1
-11.2
-11.2
-7.0
-0.9
-7.1
Total talent solutions
As Reported
-19.8
-12.2
-9.6
-3.9
4.5
-0.9
Billing Days Impact
0.6
1.4
0.0
0.1
0.7
-0.4
Currency Impact
3.9
-1.8
-2.6
-4.6
-8.2
-2.8
As Adjusted
-15.3
-12.6
-12.2
-8.4
-3.0
-4.1
Protiviti
As Reported
4.4
13.1
11.1
14.7
16.0
-1.2
Billing Days Impact
0.7
1.7
0.0
0.1
0.7
-0.5
Currency Impact
2.8
-4.1
-3.6
-5.7
-8.6
-1.4
As Adjusted
7.9
10.7
7.5
9.1
8.1
-3.1
Total
As Reported
-13.6
-5.3
-3.8
1.8
8.1
-1.0
Billing Days Impact
0.6
1.5
0.0
0.2
0.6
-0.5
Currency Impact
3.6
-2.5
-2.9
-5.0
-8.3
-2.3
As Adjusted
-9.4
-6.3
-6.7
-3.0
0.4
-3.8
SOURCE Robert Half
|
