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Robert Half International: Avoid Until There Is Better Clarity On Earnings Outlook

May 10, 2023 1:17 AM ETRobert Half Inc. (RHI)
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Vader Capital


  • RHI experienced a decline in revenue by 5.6% in 1Q23, with contract staffing revenues decreasing by 8% and permanent placement revenue dropping by 15.8%.
  • The outlook for RHI is challenging, with clients cutting back on staffing needs and delaying hiring decisions as the economy slows, creating revenue headwinds and lengthening sales cycles.
  • The uncertain economic conditions make it difficult to underwrite the stock's risk-reward ratio.

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Robert Half International (NYSE:RHI) operates a straightforward business, in which it provides temporary and permanent staffing services. Revenue and EPS for 1Q23 were both below the middle point of management's guidance, as was to be expected. As

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Ex-long only investor turned business owner. Operate in the real estate and chemicals industry. Read and invest in companies on the side every night. I view investment as a never-ending-journey that allows me to constantly learn new industries and business models. While I am not the best today, I strive to be better with each deep-dive and analysis. Finally, this is a very profitable venture that pays well at the end of the journey if the process is done right.

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