What is Kelly Services's impairment charges?

Kelly Services (KELYB) reported impairment charges of $2.4M in Q2 2023.

How has Kelly Services's impairment charges changed year-over-year?

Kelly Services's impairment charges decreased by 87.0% year-over-year, from $18.5M to $2.4M.

What does impairment charges mean?

Write-downs of long-lived assets (excluding goodwill) when their carrying value exceeds fair value, including property, equipment, right-of-use assets, and other tangible assets.

Kelly Services KELYB Impairment Charges

Discontinued — last reported Q2 '23

Impairment Charges at other companies

Korn FerryKFY

$0-100%

Segments

By segment

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Science, Engineering & Technology$2.2M—

Education$0—

Enterprise Talent Management$0—

Other financials

Income statement

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Revenue$1.0B-10.7%

Gross profit$196.4M-17.0%

Operating income-$5.1M-147%

Net income-$5.9M-202%

EPS (diluted)-$0.17-206%

Balance sheet

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Cash & equivalents$29.5M-14.5%

Total debt$183.9M-30.9%

Total equity$968.5M-21.9%

Total assets$2.3B-13.1%

Cash flow

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Operating cash flow-$25.4M-206%

CapEx$1.1M-56.0%

Free cash flow-$26.5M-224%

Valuation

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Market cap$624.05M+46.6%

Enterprise value$778.45M+18.4%

P/S0.2×+0.1×

Profitability

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Gross margin19.7%-0.8pp

Operating margin-2.1%-4.2pp

Net margin-6.4%-7.0pp

FCF margin1.6%—

Returns & leverage

See full

Return on equity-24.1%-26.0pp

Debt / equity0.2×0.0×

Current ratio1.6×-0.1×

Where this comes from

Reported directly by Kelly Services in its filing.

Tagged under the XBRL concept us-gaap:AssetImpairmentCharges.

The official record: Kelly Services’s 10-Q, filed August 10, 2023, on SEC EDGAR. View the filing →

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Questions, answered.

What is Kelly Services's impairment charges?: Kelly Services (KELYB) reported impairment charges of $2.4M in Q2 2023.
How has Kelly Services's impairment charges changed year-over-year?: Kelly Services's impairment charges decreased by 87.0% year-over-year, from $18.5M to $2.4M.
What does impairment charges mean?: Write-downs of long-lived assets (excluding goodwill) when their carrying value exceeds fair value, including property, equipment, right-of-use assets, and other tangible assets.