Robert Half (RHI) investor relations material

Executive summary

• Q2 2026 global revenues were $1.336 billion, down 2% year-over-year on a reported basis and down 3% on an adjusted basis.

• Net income per share was $0.26, down from $0.41 a year ago, with net income at $26 million.

• Talent Solutions achieved its third consecutive quarter of sequential revenue growth on an adjusted basis, with Permanent Placement operations posting 2.5% adjusted year-over-year growth.

• Protiviti revenues declined due to shifts in the U.S. financial services regulatory environment, but technology consulting within Protiviti delivered record revenues.

• Global enterprise revenues and earnings exceeded the midpoint of second-quarter guidance.

Financial highlights

• Adjusted operating income was $39 million (2.9% of revenues); reported operating income was negative $62 million due to non-cash investment gains.

• Q2 2026 gross margin was $474 million (35.5% of revenue), down from $509 million (37.2%) in Q2 2025.

• Adjusted gross margin for Talent Solutions was 47.4%, up from 47.1% year-over-year; Protiviti adjusted gross margin was 18.5%, down from 22.3%.

• Cash and cash equivalents at June 30, 2026 were $325 million, down from $381 million a year earlier.

• Return on invested capital was 9% for the quarter.

Outlook and guidance

• Q3 2026 revenue guidance: $1.31–$1.41 billion; income per share: $0.43–$0.53.

• Midpoint guidance implies flat adjusted revenues year-over-year; Talent Solutions expected to grow 1–5%, Protiviti to decline 4–8%.

• Adjusted operating income margin guidance: 4–6% overall, 3–5% for Talent Solutions, 6–8% for Protiviti.

• Q4 expected to see typical seasonal decline in operating margins due to fewer billing days.

• Hiring demand is improving and market conditions are becoming more supportive.