Robert Half International Stock Earnings Reports

Robert Half reported Q3 2025 revenue of $1.354 billion, down 8% year-over-year, and diluted EPS of $0.43 (vs. $0.64 a year ago), generally in line with prior midpoint guidance. Contract Talent bill rates rose ~3.7% year-over-year. Protiviti revenue was $498 million, down ~3% adjusted (U.S. down 6%, non-U.S. up 8%) with gross margin pressure from mix, shorter/lower-margin projects and reassigning full-time staff to contractor roles to preserve employment. Adjusted operating income was $61 million (4.5% of revenue); adjusted operating income contribution: Talent Solutions $24M (2.8%) and Protiviti $37M (7.5%). Cash flow from operations was $77M; company paid $0.59/share dividend ($59M) and repurchased $20M of stock in Q3, with ~$5.6M shares capacity remaining. Q4 guidance: revenue $1.245B–$1.345B, EPS $0.25–$0.35 (midpoint implies ~7% Y/Y adjusted decline), and management expects sequential adjusted revenue growth (same-day constant currency) for the first time since Q2 2022 but modest negative operating leverage due to fewer billing days. Management highlighted improving weekly revenue trends into September/October, a strengthening pipeline at Protiviti, focus on margin recovery at Protiviti in 2026, ongoing investments in technology/AI to improve recruiter productivity and match quality, and a continued commitment to the dividend with free cash flow currently covering payouts. Near-term risks include continued client caution, seasonality (Q1 Protiviti margin pressure and tax charge from employee stock awards), and macro/booking cadence uncertainties.