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Adecco SA
AHEXY reported a 15% gain in its second-quarter profit.
The company's quarterly net profit surged to 145 million euros ($194 million), versus a year-ago profit of 126 million euros. Analysts were expecting a profit of 142 million euros.
Its basic EPS surged 18% to EUR 0.82 in the quarter. The company's EBITA, excluding restructuring costs, climbed 18% in constant currency to EUR 228 million.
Its revenue rose 1% to 4.99 billion euros versus 4.93 billion euros, while underlying revenue climbed 5%. Analysts projected revenue of 5.07 billion euros for the quarter.
Revenue in France came in flat, versus a 1% gain in the first quarter. Revenue in North America climbed 3%, while revenue in Italy climbed 18%. Revenue in emerging markets surged 12%, while revenue in the UK & Ireland jumped 3%.
Permanent placement revenue rose 8% in constant currency to EUR 89 million, while revenue from Career Transition (outplacement) surged 9% in constant currency to EUR 74 million.
Patrick De Maeseneire, CEO of the Adecco Group said: “In the second quarter our colleagues delivered another good performance. Revenue growth continued at a similar level to the first quarter. Growth remained steady in Europe, led once again by our Industrial business, and as expected we saw a pick-up in activity in North America.”
The gross margin rose 20 bps to 18.1%.
Adecco shares fell 1.62% to close at $35.90 yesterday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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