Robert Half International Inc. (RHI) Q3 2022 Earnings Call Transcript

Robert Half International Inc. (NYSE:RHI) Q3 2022 Earnings Conference Call October 20, 2022 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.

Andrew Steinerman - JPMorgan Chase & Co.

Jasper Bibb - Truist Securities, Inc.

Kevin McVeigh - Credit Suisse AG

George Tong - Goldman Sachs Group, Inc.

Heather Balsky - Bank of America Merrill Lynch

John Kennedy - Barclays Bank PLC

Jeffrey Silber - BMO Capital Markets

Operator

Hello, and welcome to the Robert Half Third 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.

Keith Waddell

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 these actual results to differ materially from the forward-looking statements. These risks and uncertainties are described in today's press release, and 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 earnings press release.

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 this 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.

We are pleased to report third quarter year-over-year revenue growth of 7% or 10% adjusted for currency over and above the very strong 44% in the same quarter last year. Permanent placement led the way, growing 17% or 20% adjusted for currency and Protiviti revenues reached new all-time highs.