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KELLY SERVICES INC

For the period ended Mar 30, 2025. Filed May 8, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 30, 2025 · Filed May 8, 2025

KELYB$25.55-4.1%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 30, 2025

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 0-1088

KELLY SERVICES, INC.

(Exact name of registrant as specified in its charter)

Delaware38-1510762
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

999 West Big Beaver Road, Troy, Michigan 48084

(Address of principal executive offices) (Zip Code)

(248)362-4444

(Registrant’s telephone number, including area code)

No Change

(Former name, former address and former fiscal year, if changed since last report.)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolsName of each exchange on which registered
Class A Common Stock, $1.00 par value per shareKELYAThe Nasdaq Stock Market LLC
Class B Common Stock, $1.00 par value per shareKELYBThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☒
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes☐ No☒

At April 28, 2025,31,907,118 shares of Class A and 3,295,941 shares of Class B common stock of the Registrant were outstanding.

Page Number
PART I. FINANCIAL INFORMATION4
Item 1. Financial Statements (unaudited).4
Consolidated Statements of Earnings4
Consolidated Statements of Comprehensive Income (Loss)5
Consolidated Balance Sheets6
Consolidated Statements of Stockholders' Equity8
Consolidated Statements of Cash Flows9
Notes to Consolidated Financial Statements11
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.28
Item 3. Quantitative and Qualitative Disclosures About Market Risk.37
Item 4. Controls and Procedures.38
PART II. OTHER INFORMATION39
Item 1. Legal Proceedings.39
Item 1A. Risk Factors.39
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.40
Item 3. Defaults Upon Senior Securities.40
Item 4. Mine Safety Disclosures.40
Item 5. Other Information.40
Item 6. Exhibits.41
SIGNATURES42
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.