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Kelly Services, Inc. (KELYA) CEO Peter Quigley on Q1 2020 Results - Earnings Call Transcript

May 04, 2020 12:37 PM ETKelly Services, Inc. (KELYA), KELYB
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Kelly Services, Inc. (NASDAQ:KELYA) Q1 2020 Earnings Conference Call May 4, 2020 9:00 AM ET

Company Participants

Peter Quigley - President and CEO

Olivier Thirot - EVP and CFO

Conference Call Participants

Josh Vogel - Sidoti & Company

Joe Gomes - Noble Capital


Good morning and welcome to Kelly Services First Quarter Earnings Conference Call. All parties will be on listen-only until the question-and-answer portion of the presentation. Today's call is being recorded at the request of Kelly Services. If anyone has any objection you may disconnect at this time. I would now like to turn the meeting over to your host Mr. Peter Quigley, President and CEO. Sir, you may begin.

Peter Quigley

Thank you, John. Good morning everyone and I hope everyone is staying safe. Welcome to Kelly Services first quarter conference call. With me on the call is Olivier Thirot our CFO. We have a lot of ground to cover so let me give a quick outline of what to expect. I am going to share some Q1 headlines and comment on Kelly's response to the COVID-19 pandemic. Then Olivier will walk us through highlights of our quarterly performance including the impact of COVID-19 and the goodwill impairment we announced in this morning's release which was triggered by the stock market's response to the crisis. I will then share some trends we are seeing, the precautionary actions we have take to create some financial flexibility, and the proactive steps we are taking to prepare Kelly for growth on the other side of this crisis. Olivier will provide insight into our scenario planning and some perspectives for Q2. And finally I will turn to what's next for Kelly including updates on our specialization strategy and new operating model which are designed to capture and accelerate growth.


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