Kforce (KFRC) Misses Q2 EPS by 2c, Miss on Revenues; Offers Soft 3Q EPS/Revenue Guidance

Kforce (NASDAQ: KFRC) reported Q2 EPS of $0.44, $0.02 worse than the analyst estimate of $0.46. Revenue for the quarter came in at $340.3 million versus the consensus estimate of $345.24 million.

Looking forward to the third quarter of 2017, there will be 63 billing days, as compared to 64 billing days in the preceding and prior year quarters. In the second quarter of 2017, revenue per billing day was approximately $5.3 million. Current estimates for the third quarter of 2017 are:

• Revenues of $338 million to $343 million
• Earnings per share of $0.44 to $0.47
• Gross profit margin of 30.5% to 30.7%
• Flex gross profit margin of 27.8% to 28.0%
• SG&A expense as a percent of revenue of 24.1% to 24.3%
• Operating margin of 5.7% to 6.0%
• Effective tax rate of 38.3%

GUIDANCE:

Kforce sees Q3 2017 EPS of $0.44-$0.47, versus the consensus of $0.47. Kforce sees Q3 2017 revenue of $338-343 million, versus the consensus of $346.08 million.

For earnings history and earnings-related data on Kforce (KFRC) click here.

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