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Kelly Services (KELYA) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Kelly Services (KELYA) Q3 2026 earnings results →

Q3 2026 Revenue down 1% year over year to $927M · 0¢ of every $1 of revenue lost · operating margin 0.1%

Kelly Services made $927M in Q3 2026 (-0.8% Y/Y). Operating margin 0.1%, net loss $1.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$927M
Year over year-0.8%
Operating margin0.1%
Net earnings−$1.7M
Operating cash flow−$54.5M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $927.2M in Q3 2026, down 1% year over year and down 11% from the previous quarter.

Gross margin was 21.0%, up 0.2 points from Q3 2025. Operating profit was $600K, a 0.1% margin (up 11.0 points year over year). Operating expenses fell 35% while revenue fell 1%. The quarter ended with a net loss of $1.7M, after a profit of $11.4M the previous quarter. Net interest and other expense of $1.1M was the main reason.

Operating cash flow was −$54.5M. Non-cash charges added back $13.6M of depreciation and amortization and $3.3M of share-based compensation. Working capital and other items used $69.7M. Capital expenditures of $1.7M exceeded it, leaving free cash flow of −$56.2M.

Quarterly history

Kelly Services revenue by quarterKelly Services revenue by quarter$1.2BQ1 2025$1.1BQ2 2025$935MQ3 2025$1.0BQ4 2025$1.0BQ1 2026$1.0BQ2 2026$927MQ3 2026
Kelly Services net earnings by quarterKelly Services net earnings by quarter$5.8MQ1 2025$19.0MQ2 2025−$150MQ3 2025−$129MQ4 2025−$5.9MQ1 2026$11.4MQ2 2026−$1.7MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$927M-0.8%0.1%−$1.7M−$54.5M
Q2 202610-QAug 6, 2026$1.0B-6%1.6%$11.4M$49.2M
Q1 202610-QMay 7, 2026$1.0B-11%-0.5%−$5.9M−$25.4M
Q4 202510-KFeb 12, 2026$1.0B-12%-0.1%−$129M$28.6M
Q3 202510-QNov 6, 2025$935M-10%-10.9%−$150M−$25.3M
Q2 202510-QAug 7, 2025$1.1B+4%2.0%$19.0M$95.4M
Q1 202510-QMay 8, 2025$1.2B+12%0.9%$5.8M$23.9M

Charts

Kelly Services: revenue growth, year over year and quarter over quarterKelly Services: revenue growth, year over year and quarter over quarterY/YQ/Q+12%Q1 2025+4%-5%Q2 2025-10%-15%Q3 2025-12%+12%Q4 2025-11%-1%Q1 2026-6%0%Q2 2026-1%-11%Q3 2026
Latest (Q3 2026): Y/Y -1%, Q/Q -11%.
Kelly Services: where the cash came from (+) and went (−), TTM to Q3 2026Kelly Services: where the cash came from (+) and went (−), TTM to Q3 2026Other investing$15.6MDividends−$10.9MOther financing−$10.6MCash drawn (+) / kept (−)$9.1MCapital spending−$6.0MNet borrowing (+) / repaid (−)$4.1MExchange rates$3.1MTaxes on employees’ shares−$2.3MOperating cash flow−$2.1M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Kelly Services: profit against cash, quarter by quarterKelly Services: profit against cash, quarter by quarterNet incomeOperating cash flow−$31.8M$15.0MQ4 2024$5.8M$23.9MQ1 2025$19.0M$95.4MQ2 2025−$150M−$25.3MQ3 2025−$129M$28.6MQ4 2025−$5.9M−$25.4MQ1 2026$11.4M$49.2MQ2 2026−$1.7M−$54.5MQ3 2026
Latest (Q3 2026): Net income −$1.7M, Operating cash flow −$54.5M.
Kelly Services: diluted shares by fiscal yearKelly Services: diluted shares by fiscal year39MFY202040MFY202138MFY202236MFY202336MFY202435MFY2025
-10.7% since FY2020: buybacks shrank the count.
Kelly Services in its industry: growth against margin (17 companies, SIC 7363)Kelly Services in its industry: growth against margin (17 companies, SIC 7363)revenue growth, year over year →↑ operating marginmedian +5%median 2%MANNSPRHIEFORAMNTBITTECKFRCBBSICIRCRCMTSTRRDLHCBGSFHQIRLBYKELYA (-1%, 0%)
Services-Help Supply Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Kelly Services

William Russell Kelly pioneered the staffing industry when he founded Kelly ® in 1946 and we’ve been reinventing it ever since. Our inception helped usher in and embolden a workforce of women who kept the economy moving forward during World War II, opening doors and creating completely new opportunities. Over the next 79 years, as work evolved, Kelly continued to equip people with the skills to master new technologies as they emerged and the opportunity to put them to work in ways that enriched their lives. As the world of work has evolved, so have our offerings to reflect the changing needs of employers and talent. In 1996, Kelly established the industry’s first Managed Service Provider (“MSP”) program. Three years later, the Company launched specialized offerings in engineering, information technology and education.

In its own words, from its 10-K, filed Feb 12, 2026.

Kelly Services against its Services-Help Supply Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -0.8% against the peers' median +2%. Operating margin: 0.1% against the peers' median 2.4%.

CompanyQuarterRevenueY/YOp. margin
KELYA Kelly ServicesQ3 2026$927M-0.8%0.1%
MAN ManpowerGroupQ3 2026$4.8B+4%1.7%
NSP InsperityQ3 2026$1.7B+2%-0.1%
RHI Robert HalfQ3 2026$1.4B+0.4%5.5%
EFOR EverforthQ3 2026$1.0B+2%5.5%
AMN AMN Healthcare ServicesQ3 2026$717M+13%7.0%
TBI TrueBlueQ3 2026$521M+21%2.3%
TTEC Ttec HoldingsQ2 2026$455M-11%2.4%
KFRC KforceQ3 2026$358M+8%6.3%

Source: Kelly Services 10-Q on SEC EDGAR · CIK 55135 · Services-Help Supply Services

Guidance and outlook

Kelly Services: what its forward-looking statements are about (10-Q filed 2026-11-05)Kelly Services: what its forward-looking statements are about (10-Q filed 2026-11-05)Other3Demand1
4 statements; tone +0.50 (−1 all cautious, +1 all confident); 1 hedged.
Kelly Services: outlook statements against the filing beforeKelly Services: outlook statements against the filing beforeConfident2

13F: who owns KELYA and who is buying

Largest holders of KELYA (13F)Largest holders of KELYA (13F)BlackRock$31.6MPrivate Management Group$22.7MVanguard Group$18.2MVanguard Capital Management LLC$16.0MCharles Schwab Investment Managem…$15.2MGate City Capital Management, LLC$15.1MAmerican Century Companies$14.8MDimensional Fund Advisors LP$14.5MAQR Capital Management LLC$12.6MGeode Capital Management, LLC$9.8M
Funds' net buying of KELYA by quarter (13F)Funds' net buying of KELYA by quarter (13F)−$8.0M2024-09$3.5M2024-12−$2.0M2025-03−$4.6M2025-06$4.1M2025-09−$12.3M2025-12−$7.1M2026-03$22.3M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on KELYA

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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