Robert Half (RHI) investor relations material

Executive summary

• Q1 2026 global revenues were $1.3 billion, down 4% year-over-year on a reported basis and 6% on an adjusted basis.

• Net income per share was $0.14, down from $0.17 in Q1 2025, with net income at $14 million.

• Talent Solutions achieved a second consecutive quarter of positive sequential growth on a same-day constant currency basis, with strengthening trends into early April.

• Cash flow used in operations was $112 million, reflecting seasonal outflows for bonuses and SaaS renewals.

• The company was recognized as one of America's Most Innovative Companies and among the 100 Best Companies to Work For.

Financial highlights

• Adjusted Talent Solutions revenues declined 7% year-over-year; U.S. down 7%, non-U.S. down 3%.

• Protiviti global revenues were $466 million; adjusted revenues down 4% year-over-year, with U.S. down 6% and non-U.S. up 8%.

• Contract Talent Solutions bill rates rose 2.6% year-over-year.

• Gross margin for Contract Talent Solutions was 38.9%; overall Talent Solutions gross margin was 46.8%.

• Adjusted operating income for Q1 2026 was $28.7 million, compared to $18.7 million in Q1 2025.

Outlook and guidance

• Q2 2026 revenue guidance: $1.275–$1.375 billion; EPS $0.20–$0.30, or $0.23–$0.33 excluding a $0.03 severance charge.

• Midpoint Q2 revenue guidance is 4% lower year-over-year on an adjusted basis.

• Adjusted revenue growth for Q2: Talent Solutions flat to down 4%, Protiviti down 4%–8%.

• Q3 2026 expected to see Talent Solutions return to 1%–3% year-over-year adjusted revenue growth; Protiviti Q3 margins expected at 7%–9%.

• Management believes market conditions are becoming more favorable for business.