EX-99.1 2 rhiq12024ex991.htm EX-99.1 Document

Exhibit 99.1
FOR IMMEDIATE RELEASE
 
Contact: 
 M. Keith Waddell
President and Chief Executive Officer
(650) 234-6000

ROBERT HALF REPORTS FIRST-QUARTER FINANCIAL RESULTS
MENLO PARK, Calif., April 25, 2024 — Robert Half Inc. (NYSE symbol: RHI) today reported revenues and earnings for the first quarter ended March 31, 2024.
For the three months ended March 31, 2024, net income was $64 million, or $0.61 per share, on revenues of $1.476 billion. For the three months ended March 31, 2023, net income was $122 million, or $1.14 per share, on revenues of $1.716 billion.
“Client and candidate caution continues to impact hiring activity and new project starts on a global basis. However, the trend toward stabilization that began in the second half of last year continued into the first quarter of this year,” said M. Keith Waddell, president and chief executive officer at Robert Half. “First-quarter results were largely in line with expectations, and we are encouraged that second-quarter earnings guidance, led by Protiviti, anticipates higher sequential earnings for the first time in seven quarters.
“We’d like to extend our gratitude to our employees across the globe, whose efforts made possible a number of recent prestigious accolades. Robert Half was among an elite few companies — and the only in our industry — to be honored as a Fortune® Most Admired Company™ for 27 consecutive years. We were also recognized as one of Fortune’s 100 Best Companies to Work For®, Forbes America’s Best Large Employers and, just this week, one of Forbes’ Best Employers for Diversity,” Waddell concluded.
Robert Half management will conduct a conference call today at 5 p.m. EDT. 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 888-394-8218 (+1-323-994-2093 outside the United States and Canada). The confirmation code to access the call is 8109583.
A recording of this call will be available for audio replay beginning at approximately 8 p.m. EDT on April 25 and ending after 12 months. To access the replay, visit https://webcasts.com/RobertHalfQ12024. 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 past 12 months, Robert Half, including Protiviti, has been named Fortune® World’s Most Admired™ and 100 Best Companies to Work For®, as well as a Forbes Best Employer for Diversity.
Robert Half talent solutions and consulting operations has operations in over 400 locations worldwide.
Certain information contained in this press release and its attachments 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,” “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 environmental, social, and governance and compliance programs, including targets or goals, may not be considered material for the Securities and Exchange Commission (“SEC”) reporting purposes and may be based on standards for measuring progress that are still developing, on internal controls, diligence, or processes that are evolving, and on assumptions that are subject to change in the future. Forward-looking statements are estimates only, 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 and often beyond our control and are inherently uncertain. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed 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 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, on 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 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 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. 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.
A summary of additional risks and uncertainties can be found in the Annual Report on Form 10-K for the year ended December 31, 2023, 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. The Company undertakes no obligation to update information contained in this release, 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













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ROBERT HALF INC.
SUMMARY OF OPERATIONS
(in thousands, except per share amounts)
 
 Three Months Ended
March 31,
 20242023
 (Unaudited)
Service revenues$1,475,937 $1,716,335 
Costs of services913,140 1,026,603 
Gross margin562,797689,732
Selling, general and administrative expenses521,595552,229
Income from investments held in employee deferred compensation trusts (which is completely offset by related costs and expenses)(43,376)(27,291)
Amortization of intangible assets304721
Interest income, net(6,413)(4,825)
Income before income taxes90,687 168,898 
Provision for income taxes26,986 46,893 
Net income$63,701 $122,005 
Diluted net income per share$0.61 $1.14 
 
Weighted average shares:
Basic103,787 106,420 
Diluted104,399 107,130 

























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ROBERT HALF INC.
SUPPLEMENTAL FINANCIAL INFORMATION
(in thousands)

Three Months Ended
March 31,
20242023
(Unaudited)
SERVICE REVENUES INFORMATION
Contract talent solutions
Finance and accounting$641,970 $777,833 
Administrative and customer support199,932 219,350 
Technology157,970 194,082 
Elimination of intersegment revenues (1)(112,814)(125,791)
Total contract talent solutions887,058 1,065,474 
Permanent placement talent solutions124,767 156,737 
Protiviti464,112 494,124 
Total service revenues$1,475,937 $1,716,335 
(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.

 Three Months Ended March 31,
20242023
 $% of Revenue$% of Revenue
(Unaudited)
BUSINESS SEGMENT INCOME INFORMATION:
Contract talent solutions$50,118 5.6 %$102,146 9.6 %
Permanent placement talent solutions$11,855 9.5 %$23,827 15.2 %
Protiviti$22,605 4.9 %$38,821 7.9 %

 March 31,
 20242023
 (Unaudited)
SELECTED BALANCE SHEET INFORMATION:
Cash and cash equivalents$540,939 $547,729 
Accounts receivable, net$861,450 $1,009,192 
Total assets$2,889,702 $2,912,134 
Total current liabilities$1,179,540 $1,148,310 
Total stockholders’ equity$1,519,245 $1,598,481 

 Three Months Ended March 31,
 20242023
(Unaudited)
SELECTED CASH FLOW INFORMATION:
Depreciation$13,004 $12,738 
Capitalized cloud computing implementation costs $8,391 $10,457 
Capital expenditures$11,780 $9,369 
Open market repurchases of common stock (shares)761484 
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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; combined segment income; and as adjusted revenue growth rates.
The following measures: adjusted gross margin and adjusted selling, general and administrative expenses, 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.
Combined segment income is income before income taxes, adjusted for interest income and amortization of intangible assets. The Company provides combined segment income because it is how management evaluates performance.
As 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.






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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
ADJUSTED GROSS MARGIN (UNAUDITED):
(in thousands)
Three Months Ended March 31,Relationships
As ReportedAs AdjustedAs ReportedAs Adjusted
20242023202420232024202320242023
Gross Margin
Contract talent solutions
$350,570 $423,625 $350,570 $423,625 39.5 %39.8 %39.5 %39.8 %
Permanent placement talent solutions
124,548 156,395 124,548 156,395 99.8 %99.8 %99.8 %99.8 %
Total talent solutions475,118 580,020 475,118 580,020 47.0 %47.5 %47.0 %47.5 %
Protiviti
87,679 109,712 96,036 114,484 18.9 %22.2 %20.7 %23.2 %
Total$562,797 $689,732 $571,154 $694,504 38.1 %40.2 %38.7 %40.5 %
The following tables provide reconciliations of the non-GAAP adjusted gross margin to reported gross margin for the three months ended March 31, 2024 and 2023:
Three Months Ended March 31, 2024Three Months Ended March 31, 2023
Contract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotalContract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotal
$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue$% of Revenue
Gross Margin
As Reported$350,570 39.5 %$124,548 99.8 %$475,118 47.0 %$87,679 18.9 %$562,797 38.1 %$423,625 39.8 %$156,395 99.8 %$580,020 47.5 %$109,712 22.2 %$689,732 40.2 %
Adjustments (1)— — — — — — 8,357 1.8 %8,357 0.6 %— — — — — — 4,772 1.0 %4,772 0.3 %
As Adjusted$350,570 39.5 %$124,548 99.8 %$475,118 47.0 %$96,036 20.7 %$571,154 38.7 %$423,625 39.8 %$156,395 99.8 %$580,020 47.5 %$114,484 23.2 %$694,504 40.5 %
(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 is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment income 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.
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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
ADJUSTED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED):
(in thousands)
Three Months Ended March 31,Relationships
As ReportedAs AdjustedAs ReportedAs Adjusted
20242023202420232024202320242023
Selling, General and Administrative Expenses
Contract talent solutions
$331,588 $341,722 $300,452 $321,479 37.4 %32.1 %33.9 %30.2 %
Permanent placement talent solutions
116,576 134,844 112,693 132,568 93.4 %86.0 %90.3 %84.6 %
Total talent solutions448,164 476,566 413,145 454,047 44.3 %39.0 %40.8 %37.1 %
Protiviti
73,431 75,663 73,431 75,663 15.8 %15.3 %15.8 %15.3 %
Total$521,595 $552,229 $486,576 $529,710 35.3 %32.2 %33.0 %30.9 %
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 March 31, 2024 and 2023:
Three Months Ended March 31, 2024Three Months Ended March 31, 2023
Contract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotalContract talent
solutions		Permanent placement talent solutionsTotal talent solutionsProtivitiTotal
$% of Revenue$% 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$331,588 37.4 %$116,576 93.4 %$448,164 44.3 %$73,431 15.8 %$521,595 35.3 %$341,722 32.1 %$134,844 86.0 %$476,566 39.0 %$75,663 15.3 %$552,229 32.2 %
Adjustments (1)(31,136)(3.5 %)(3,883)(3.1 %)(35,019)(3.5 %)— — (35,019)(2.3 %)(20,243)(1.9 %)(2,276)(1.4 %)(22,519)(1.9 %)— — (22,519)(1.3 %)
As Adjusted$300,452 33.9 %$112,693 90.3 %$413,145 40.8 %$73,431 15.8 %$486,576 33.0 %$321,479 30.2 %$132,568 84.6 %$454,047 37.1 %$75,663 15.3 %$529,710 30.9 %
(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 is presented separately. The non-GAAP financial adjustments shown in the table above are to reclassify investment income 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.
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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
COMBINED SEGMENT INCOME (UNAUDITED):
(in thousands)

The following tables provide reconciliations of the non-GAAP combined segment income to reported income before income taxes for the three months ended March 31, 2024 and 2023:
 Three Months Ended March 31,
20242023
 $% of Revenue$% of Revenue
Income before income taxes$90,687 6.1 %$168,898 9.8 %
Interest income, net(6,413)(0.4 %)(4,825)(0.2 %)
Amortization of intangible assets304 0.0 %721 0.0 %
Combined segment income$84,578 5.7 %$164,794 9.6 %


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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)
 202220232024202220232024
 Q4Q1Q2Q3Q4Q1Q4Q1Q2Q3Q4Q1
Global
Finance and accounting-0.1-3.0-11.0-16.0-17.2-17.52.9-3.1-10.8-15.2-17.8-17.0
Administrative and customer support-21.2-23.0-23.0-21.5-18.7-8.9-18.8-23.2-23.0-21.2-19.4-8.3
Technology-2.1-9.0-16.7-21.3-21.7-18.60.5-9.3-16.2-20.0-21.8-17.8
Elimination of intersegment revenues (1)-14.5-12.8-16.5-24.2-26.6-10.3-11.5-12.7-16.5-23.8-27.2-9.9
Total contract talent solutions
-4.0-7.8-14.3-17.3-17.2-16.7-1.2-8.0-14.0-16.4-17.7-16.2
Permanent placement talent solutions-1.4-16.1-25.4-23.3-22.0-20.42.4-15.8-25.0-22.5-22.6-19.8
Total talent solutions-3.7-9.0-15.9-18.1-17.8-17.2-0.8-9.1-15.6-17.3-18.3-16.7
Protiviti
0.84.6-1.2-6.0-7.1-6.14.04.4-1.0-4.9-7.5-5.4
Total-2.4-5.4-12.0-14.7-14.7-14.00.6-5.6-11.7-13.8-15.2-13.4
United States
Contract talent solutions
-3.4-8.6-16.0-20.7-20.5-19.1-2.9-9.9-15.9-19.2-20.3-18.6
Permanent placement talent solutions1.4-16.9-26.2-26.9-22.6-19.31.9-18.1-26.1-25.5-22.5-18.7
Total talent solutions-2.9-9.7-17.4-21.5-20.7-19.1-2.4-11.0-17.2-20.0-20.6-18.6
Protiviti
3.67.5-2.4-7.4-7.3-4.84.15.9-2.3-5.6-7.2-4.2
Total-1.1-5.2-13.3-17.5-16.8-14.9-0.6-6.6-13.2-15.9-16.7-14.3
International
Contract talent solutions
-6.3-4.7-7.6-3.1-4.4-8.45.3-1.2-6.2-4.9-7.5-7.5
Permanent placement talent solutions-7.5-14.0-23.4-13.0-20.6-23.24.3-10.5-21.9-14.2-22.8-22.1
Total talent solutions-6.5-6.4-10.6-4.8-7.2-10.85.2-2.9-9.2-6.6-10.1-9.9
Protiviti
-9.2-5.73.30.3-6.1-11.33.7-1.54.2-1.5-8.9-10.1
Total-7.3-6.2-7.0-3.5-6.9-10.94.8-2.5-5.8-5.3-9.8-10.0
(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.


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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):
Year-Over-Year Revenue Growth – GLOBAL
 Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023 Q1 2024
Finance and accounting
As Reported-0.1 -3.0 -11.0 -16.0 -17.2 -17.5 
Billing Days Impact0.8 -1.3 0.1 1.6 0.1 0.7 
Currency Impact2.2 1.2 0.1 -0.8 -0.7 -0.2 
As Adjusted 2.9 -3.1 -10.8 -15.2 -17.8 -17.0 
Administrative and customer support
As Reported-21.2 -23.0 -23.0 -21.5 -18.7 -8.9 
Billing Days Impact0.7 -1.1 0.1 1.4 0.2 0.8 
Currency Impact1.7 0.9 -0.1 -1.1 -0.9 -0.2 
As Adjusted -18.8 -23.2 -23.0 -21.2 -19.4 -8.3 
Technology
As Reported-2.1 -9.0 -16.7 -21.3 -21.7 -18.6 
Billing Days Impact0.9 -1.3 0.1 1.5 0.1 0.7 
Currency Impact1.7 1.0 0.4 -0.2 -0.2 0.1 
As Adjusted 0.5 -9.3 -16.2 -20.0 -21.8 -17.8 
Elimination of intersegment revenues
As Reported-14.5 -12.8 -16.5 -24.2 -26.6 -10.3 
Billing Days Impact0.8 -1.3 0.1 1.4 0.1 0.7 
Currency Impact2.2 1.4 -0.1 -1.0 -0.7 -0.3 
As Adjusted-11.5 -12.7 -16.5 -23.8 -27.2 -9.9 
Total contract talent solutions
As Reported-4.0 -7.8 -14.3 -17.3 -17.2 -16.7 
Billing Days Impact0.8 -1.3 0.1 1.6 0.2 0.6 
Currency Impact2.0 1.1 0.2 -0.7 -0.7 -0.1 
As Adjusted-1.2 -8.0 -14.0 -16.4 -17.7 -16.2 
Permanent placement talent solutions
As Reported-1.4 -16.1 -25.4 -23.3 -22.0 -20.4 
Billing Days Impact0.8 -1.1 0.1 1.5 0.1 0.7 
Currency Impact3.0 1.4 0.3 -0.7 -0.7 -0.1 
As Adjusted2.4 -15.8 -25.0 -22.5 -22.6 -19.8 
Total talent solutions
As Reported-3.7 -9.0 -15.9 -18.1 -17.8 -17.2 
Billing Days Impact0.8 -1.2 0.1 1.5 0.2 0.6 
Currency Impact2.1 1.1 0.2 -0.7 -0.7 -0.1 
As Adjusted-0.8 -9.1 -15.6 -17.3 -18.3 -16.7 
Protiviti
As Reported0.8 4.6 -1.2 -6.0 -7.1 -6.1 
Billing Days Impact0.8 -1.5 0.2 1.8 0.2 0.7 
Currency Impact2.4 1.3 0.0 -0.7 -0.6 0.0 
As Adjusted4.0 4.4 -1.0 -4.9 -7.5 -5.4 
Total
As Reported-2.4 -5.4 -12.0 -14.7 -14.7 -14.0 
Billing Days Impact0.8 -1.4 0.2 1.6 0.1 0.7 
Currency Impact2.2 1.2 0.1 -0.7 -0.6 -0.1 
As Adjusted0.6 -5.6 -11.7 -13.8 -15.2 -13.4 




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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):

Year-Over-Year Revenue Growth – UNITED STATES
 Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023 Q1 2024
Contract talent solutions
As Reported-3.4 -8.6 -16.0 -20.7 -20.5 -19.1 
Billing Days Impact0.5 -1.3 0.1 1.5 0.2 0.5 
Currency Impact――――――
As Adjusted-2.9 -9.9 -15.9 -19.2 -20.3 -18.6 
Permanent placement talent solutions
As Reported1.4 -16.9 -26.2 -26.9 -22.6 -19.3 
Billing Days Impact0.5 -1.2 0.1 1.4 0.1 0.6 
Currency Impact――――――
As Adjusted1.9 -18.1 -26.1 -25.5 -22.5 -18.7 
Total talent solutions
As Reported-2.9 -9.7 -17.4 -21.5 -20.7 -19.1 
Billing Days Impact0.5 -1.3 0.2 1.5 0.1 0.5 
Currency Impact――――――
As Adjusted-2.4 -11.0 -17.2 -20.0 -20.6 -18.6 
Protiviti
As Reported3.6 7.5 -2.4 -7.4 -7.3 -4.8 
Billing Days Impact0.5 -1.6 0.1 1.8 0.1 0.6 
Currency Impact――――――
As Adjusted4.1 5.9 -2.3 -5.6 -7.2 -4.2 
Total
As Reported-1.1 -5.2 -13.3 -17.5 -16.8 -14.9 
Billing Days Impact0.5 -1.4 0.1 1.6 0.1 0.6 
Currency Impact――――――
As Adjusted-0.6 -6.6 -13.2 -15.9 -16.7 -14.3 
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ROBERT HALF INC.
NON-GAAP FINANCIAL MEASURES
REVENUE GROWTH RATE (%) RECONCILIATION (UNAUDITED):
Year-Over-Year Revenue Growth – INTERNATIONAL
 Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023 Q1 2024
Contract talent solutions
As Reported-6.3 -4.7 -7.6 -3.1 -4.4 -8.4 
Billing Days Impact2.1 -1.7 0.6 1.8 0.1 1.5 
Currency Impact9.5 5.2 0.8 -3.6 -3.2 -0.6 
As Adjusted5.3 -1.2 -6.2 -4.9 -7.5 -7.5 
Permanent placement talent solutions
As Reported-7.5 -14.0 -23.4 -13.0 -20.6 -23.2 
Billing Days Impact2.2 -1.6 0.5 1.6 0.1 1.3 
Currency Impact9.6 5.1 1.0 -2.8 -2.3 -0.2 
As Adjusted4.3 -10.5 -21.9 -14.2 -22.8 -22.1 
Total talent solutions
As Reported-6.5 -6.4 -10.6 -4.8 -7.2 -10.8 
Billing Days Impact2.2 -1.7 0.6 1.7 0.2 1.4 
Currency Impact9.5 5.2 0.8 -3.5 -3.1 -0.5 
As Adjusted5.2 -2.9 -9.2 -6.6 -10.1 -9.9 
Protiviti
As Reported-9.2 -5.7 3.3 0.3 -6.1 -11.3 
Billing Days Impact2.1 -1.7 0.7 1.8 0.2 1.4 
Currency Impact10.8 5.9 0.2 -3.6 -3.0 -0.2 
As Adjusted3.7 -1.5 4.2 -1.5 -8.9 -10.1 
Total
As Reported-7.3 -6.2 -7.0 -3.5 -6.9 -10.9 
Billing Days Impact2.2 -1.7 0.5 1.7 0.1 1.3 
Currency Impact9.9 5.4 0.7 -3.5 -3.0 -0.4 
As Adjusted4.8 -2.5 -5.8 -5.3 -9.8 -10.0 




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