Kforce Inc Up 7.04% To $60.19 After Earnings Beat

Kforce Inc. (KFRC) reported better than expected earnings this afternoon for Q3 2023.

The consensus among analysts for Kforce Inc was for an earnings per share (EPS) of $0.78. The firm was able to surpass those projections, reporting an EPS of $0.90, a positive surprise of $0.12 (15%). Profits fell 17% year-over-year after reporting an EPS of $1.09 in its year-ago quarter. The negative growth rate signals that the Industrials company isn't performing well amid current economic conditions.

Revenues were upbeat at $373.1 million. That represents a 14.74% decrease in revenues from the year-ago report and is 2.87% higher than consensus estimates set at $362.7 million.

The stock is up 7.04% to $60.19 after the report.

Kforce Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 25. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Kforce Inc provides professional and technical specialty staffing services and solutions. The company operates three business segments: technology, finance and accounting, and government solutions. Its largest segment by revenue, technology, offers temporary staffing and permanent placement services focusing on system architecture and development, project management, enterprise data management, e-commerce, and security. The remaining operating units provide staffing for general accounting, financial analysis, and technology. Its primary revenue driver for the company is temporary placements. The largest end market is the United States.