Robert Half International Inc. (RHI) Q4 2022 Earnings Call Transcript

Robert Half International Inc. (NYSE:RHI) Q4 2022 Earnings Conference Call January 26, 2023 5:00 PM ET

Company Participants

Keith Waddell - Vice Chairman, President and Chief Executive Officer

Michael Buckley - Executive Vice President and Chief Financial Officer

Conference Call Participants

Mark Marcon - Robert W. Baird & Co. Inc.

Andrew Steinerman - JPMorgan Chase & Co.

Heather Balsky - Bank of America Merrill Lynch

Jeffrey Silber - BMO Capital Markets

John Kennedy - Barclays Bank PLC

Stephanie Moore - Jefferies LLC

George Tong - Goldman Sachs Group, Inc.

Kevin McVeigh - Credit Suisse AG

Kartik Mehta - Northcoast Research Partners, LLC

Operator

Hello, and welcome to the Robert Half Fourth Quarter 2022 Conference Call. Today's conference call is being recorded. [Operator Instructions] Our hosts for today's call are Mr. Keith Waddell, President and Chief Executive Officer of Robert Half; and Mr. Michael Buckley, Chief Financial Officer.

Mr. Waddell, you may begin.

Keith Waddell

Thank you. Hello, everyone. We appreciate your time today. Before we get started, I'd like to remind you that the comments made on today's call contain forward-looking statements including predictions and estimates about our future performance. These statements represent our current judgment of what the future holds. However, they are subject to the risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties are described in today's press release, in our most recent 10-K and 10-Q filed with the SEC. We assume no obligation to update the statements made on today's call.

During this presentation, we may mention some non-GAAP financial measures and reference these figures as adjusted. Reconciliations and further explanations of these measures are included in a supplemental schedule to our press release today.

Our presentation of revenues and the related growth rates for each of our contract functional specializations includes intersegment revenues from services provided to Protiviti in connection with the company's blended talent solutions and consulting operations. This is how we measure and manage these businesses internally.

The combined amount of intersegment revenues with Protiviti is also separately disclosed. The supplemental schedules just mentioned also include a revenue schedule showing its information for 2020 through 2022. For your convenience, our prepared remarks for today's call are available in the Investor Center of our website, roberthalf.com.

2022 was a very successful year across the entire Robert Half enterprise. We grew full-year revenues and earnings per share both by more than 12% and achieved new record levels for each. All of our major practice areas, contracts, permanent placements and Protiviti reached all-time highs over and above the very strong growth in the prior year. We enter 2023 optimistic about our ability to navigate the uncertain global macroeconomic environment and the tight labor markets around the world.