Kelly Services, Inc. (NASDAQ:KELYA) Q4 2022 Earnings Conference Call February 16, 2023 9:00 AM ET
Company Participants
Peter Quigley - President, CEO & Director
Olivier Thirot - EVP & CFO
Conference Call Participants
Joseph Gomes - NOBLE Capital Markets
Kevin Steinke - Barrington Research Associates
Jack Boyle - Northcoast Research
Mitra Ramgopal - Sidoti & Company
Operator
Good morning, and welcome to the Kelly Services' Fourth Quarter Full Year 2022 Earnings Conference Call. [Operator Instructions]. Today's call is being recorded at the request of Kelly Services. If anyone has any objections, you may disconnect at this time. A fourth quarter webcast presentation is also available on Kelly's website this morning.
I would now like to turn the meeting over to your host, Mr. Peter Quigley, President and CEO. Please go ahead.
Peter Quigley
Thank you, Keely. Hello, everyone, and welcome to Kelly's fourth quarter conference call. With me today is Olivier Thirot, our Chief Financial Officer, who will walk you through our safe harbor language, which can be found in our presentation materials.
Olivier Thirot
Thank you, Peter, and good morning, everyone. Let me remind you that any comments made during this call, including the Q&A, may include forward-looking statements about our expectations for future performance. Actual results could differ materially from those suggested by our comments, and we have no obligation to update the statements made on this call. Please refer to our SEC filings for a description of the risk factors that could influence the company's actual future performance.
In addition, during the call, certain data will be discussed on a reported and on an adjusted basis. Discussion of items on an adjusted basis are non-GAAP financial measures designed to give insight into certain trends in our operations. References to organic growth in our discussion today exclude the results of our 2022 acquisitions, RocketPower and PTS, as well as the impact of the sale of our Russian operations. We have also provided the slide deck that we are using on today's call on our website.
And now back to you, Peter.
Peter Quigley
Thanks, Olivier. I'll start by sharing my perspective on the current economic and labor market dynamics to provide some context for Kelly's full year and fourth quarter results. The mixed pattern of deceleration we saw in the third quarter persisted through the balance of the year amid heightened economic uncertainty. In the high-tech sector, layoffs continued as more firms move to bring costs in line with slowing growth following a long period of expansion and aggressive hiring.