Kforce Inc. (NYSE:KFRC) Q2 2024 Earnings Conference Call July 29, 2024 5:00 PM ET
Company Participants
Joe Liberatore - President and CEO
David Kelly - COO and Corporate Secretary
Jeffrey Hackman - CFO and Principal Financial Officer
Conference Call Participants
Mark Marcon - Baird
Trevor Romeo - William Blair
Kartik Mehta - Northcoast Research
Tobey Sommer - Truist
Operator
Hello and welcome to the Kforce Second Quarter 2024 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]
I would now like to turn the conference over to Joe Liberatore, President and CEO. You may begin.
Joe Liberatore
Good afternoon and thank you for your time today. This call contains certain statements that are forward-looking that are based upon current assumptions and expectations and are subject to risks and uncertainties. Actual results may vary materially from the factors listed in Kforce's public filings and other reports and filings with the SEC.
We cannot undertake any duty to update any forward-looking statements. You can find additional information about our results in our earnings release and our SEC filings. In addition, we have published our prepared remarks within our Investor Relations' portion of our website.
Our second quarter performance, including the sequential growth in our Technology business, was consistent with our expectations. Operating trends over the first half of 2024 and discussions with our clients indicate to us that the current operating environment continues to be more stable and constructive than it was throughout most of 2023.
The opinions on the U.S falling into a recession in the near future remain mixed. While the continued increases in the U.S. stock market indices suggest growing confidence that we may soon reach an inflection point, there still remains significant economic uncertainty as well as heightened geopolitical concerns. Against this backdrop, demand for technology resources and the desire for our clients to initiate new projects has remained consistent over the last three quarters.
Clients, broadly speaking, have continued to exercise a degree of caution initiating new technology investments though, the most critical projects continue to be initiated and proceed forward.
As we look beyond the current uncertainties, we continue to be encouraged by the building backlog of strategically imperative technology investments that we expect to be high priorities for our clients to initiate at an accelerated pace once the macro uncertainties begin to clear. Given the secular underpinnings, there is simply no other market we would want to be focused in other than the technology talent solutions space.