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 PRESS RELEASE

KellyOCG Partners with Upwork Enterprise to Grow its Human Cloud Solut...

KellyOCG Partners with Upwork Enterprise to Grow its Human Cloud Solution KellyOCG clients can now access and manage global independent talent pools on Upwork through Helix UX TROY, Mich., April 30, 2024 (GLOBE NEWSWIRE) -- , the outsourcing and consulting group of (Nasdaq: KELYA, KELYB), and (Nasdaq: UPWK), the world’s largest work marketplace that connects businesses with independent talent across the globe, have formed a strategic partnership that enables KellyOCG clients to source, hire, and collaborate with skilled independent professionals on Upwork through Kelly’s solution. Ke...

Marc Zwartsenburg ... (+2)
  • Marc Zwartsenburg
  • CEFA
 PRESS RELEASE

Kelly Announces First-Quarter 2024 Conference Call

Kelly Announces First-Quarter 2024 Conference Call TROY, Mich., April 24, 2024 (GLOBE NEWSWIRE) -- , a leading global specialty talent solutions provider, will release its first-quarter earnings before the market opens on Thursday, May 9, 2024. In conjunction with its first-quarter earnings release, Kelly will publish a financial presentation on the page of its public website and will host a conference call at 9 a.m. ET. The call may be accessed in one of the following ways: Via Internet: Via the Telephone (877) 692-8955 (toll free) or (234) 720-6979 (caller paid)Enter access co...

Konrad Zomer
  • Konrad Zomer

Randstad : Getting closer to the bottom

>Disappointing Q1 results…however - Randstad’s Q1 results yesterday were clearly disappointing, with adjusted EBITA down 33% yoy at €177m and 2% below consensus. Organic revenue growth in Q1 came in at -7.8%, marginally ahead of the 8.6% decline that was reported in Q4. CEO van ‘t Noordende talked about softer conditions than expected in North America (permanent placement was down 40% in Q1) and Northern Europe, which together represents more than half of group revenu...

 PRESS RELEASE

KellyOCG Earns Recognition as a John Deere “Partner-level Supplier”

KellyOCG Earns Recognition as a John Deere “Partner-level Supplier” TROY, Mich., April 23, 2024 (GLOBE NEWSWIRE) -- , the outsourcing and consulting group of (Nasdaq: KELYA, KELYB), has earned recognition as a Partner-level supplier for 2023 in the John Deere Achieving Excellence Program. The Partner-level status is Deere & Company’s highest supplier rating. KellyOCG is a supplier of Managed Service Provider (MSP) and Recruitment Process Outsourcing (RPO) solutions to John Deere’s operation in the U.S. and Canada. It was selected for the honor in recognition of its dedication to providi...

Luis de Toledo Heras
  • Luis de Toledo Heras

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/23/2024

In the run-up to the 2024 Summer Olympic Games and Euro 2024 football tournament, we have identified six stocks to favour: JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield and easyJet. While these two major sporting events are not expected to have a significant impact on the host economies in the medium term, the microeconomic and sectoral impacts should be more marked. The tourism, transport, beverages and consumer goods sectors are expected to be the main winners. Some med...

Luis de Toledo Heras
  • Luis de Toledo Heras

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/04/2024

En amont des Jeux Olympiques d’été et de l’Euro de football 2024, nous identifions 6 valeurs à privilégier  : JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield et easyJet. Alors que ces deux évènements sportifs majeurs ne devraient pas avoir d’impact significatif sur les économies hôtes à moyen terme, les impacts microéconomiques et sectoriels devraient être plus marqués. Les secteurs du tourisme, des transports, des boissons et des biens de consommation devraient être les pr...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Ahold Delhaize: Release of 1Q24 company-compiled consensus. AkzoNobel: Decent 1Q24 with 4% beat, FY guidance reiterated. Allfunds Group plc: On the verge. Barco: Weak 1Q24, more conservative wording on guidance. DWS: 1Q24 preview. Flow Traders: No respite in March. IMCD: Last hurdle before growth. Randstad: 1Q24 slight miss vs consensus, 2Q24 outlook below due to weak gross margin. TKH Group: Preview – a weak 1Q expected Vår Energi: Nice start to the year

Guy Sips ... (+6)
  • Guy Sips
  • Jacob Mekhael
  • Kristof Samoy
  • Michiel Declercq
  • Thomas Couvreur
  • Wim Hoste

Morning Notes : AKZA NA, BAR BB, BPOST BB, RAND NA, EKOP BB, MAAT FP, ...

: AKZA NA, BAR BB, BPOST BB, RAND NA, EKOP BB, MAAT FP, NXFIL NA

Konrad Zomer
  • Konrad Zomer

Randstad : Weak Q1 results with key markets still tough

>Softer conditions than expected in North America and Northern Europe - Randstad reported -7.8% organic revenue growth in its Q1 release (css -8.3%, we at -8.5%). Adjusted EBITA declined 33% in Q1 to €177m, which is 2% below consensus ( € 181m) and clearly below our forecast of € 190m. The EBITA margin fell 110 bps yoy, of which 30 bps was the result of lower permanent placement, which in itself fell by 21% (Q4: -26%). OPEX were down 7% yoy and were adjusted for € 39m...

Frank Claassen
  • Frank Claassen

Randstad - Gross margin under pressure

•    The Q1-24 adjusted EBITA missed by a few million due to gross margin pressure, for instance due to a declining perm/RPO fee business.•    Challenging conditions continued in April and the guidance for Q2-24 means that consensus needs to come down further. •    We stick to Reduce and lower our TP from EUR 45 to EUR 43 on the back of an expected decline in our EBITA estimates by mid-single digits.

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

ASML: 1Q24 Results; weak orders but case intact. CM.com: Reasonable 1Q24 trading update, positive EBITDA surprise. Just Eat Takeaway.com: 1Q24 trading update - slowly creeping back to order growth. Staffing: Dutch period 3 - March volume and revenue seeing slight recovery in the trend. TomTom: 1Q24 results - touch weaker but no major surprises

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Kendrion: Automotive sale initiates strategic repositioning. Kinepolis: Peer Cineplex March box office revenue at 95% of 2019 level, +46% YoY. Randstad: Preview 1Q24 results due 23 April, consensus growth looks ambitious. Vår Energi: Volumes better, pricing reasonable

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Alfen: Still in search of a new CFO. Staffing: French staffing - February materially better, March outlook a touch better. Staffing: US temp volume trend stabilizing, job market data quite strong

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Randstad: Preview of 1Q24F results due 23 April, no support yet from easier comps. Semi equipment: Limited fall-out from Taiwan earthquake. Universal Music Group: Spotify to increase prices again

Delphine Brault ... (+2)
  • Delphine Brault
  • Quentin Borie

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/03/2024

America’s solid economy and Europe’s improving macro sentiment have prompted us to reiterate our winning calls: long USA vs Europe and - within Europe - long Cyclicals vs Defensives. Also within Europe, we are switching to long Value vs Growth and have overhauled our sector allocation ; furthermore it nows incorporates a chart analysis. Our favourite sectors are as follows: Banks, Financial Services, Insurance, Media, Energy, Industrial Goods & Services, Travel & Leisure, Constructio...

Konrad Zomer
  • Konrad Zomer

Randstad : Earnings risk still on the downside

>Ongoing squeeze in Q1 - We spoke with the company and understand staffing market conditions in the first quarter remained difficult. Q1 results are due for release on 23 April. After reporting an organic revenue decline of 8.6% in Q4, we estimate organic revenue growth in Q1 will come in at approximately -8.5%. Staffing markets in North America (17% of the Group), the Netherlands (12%), Germany (7%) and particularly France (15%) continued to suffer in Q1 from a tough...

Delphine Brault ... (+2)
  • Delphine Brault
  • Quentin Borie

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/04/2024

La solidité de l’économie américaine et l’amélioration du sentiment macroéconomique en Europe nous conduisent à maintenir nos calls gagnants : long USA vs Europe et - en Europe - long Cycliques vs Défensives. Toujours en Europe, nous basculons long Value vs Growth et modifions en profondeur notre allocation sectorielle ; nous y intégrons également une analyse chartiste. Nos secteurs préférés sont : Banks, Financial Services, Insurance, Media, Energy, Industrial Goods & Services, Tra...

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