2024-02-05 23:48:09 ET
Kforce Inc. (KFRC)
Q4 2023 Earnings Conference Call
February 5, 2024 17:00 ET
Company Participants
Joe Liberatore - President & Chief Executive Officer
David Kelly - Chief Operating Officer & Corporate Secretary
Jeffrey Hackman - Chief Financial Officer & Principal Financial Officer
Conference Call Participants
Mark Marcon - Baird
Kartik Mehta - Northcoast Research
Josh Chan - UBS
Marc Riddick - Sidoti
Tobey Sommer - Truist Securities
Presentation
Operator
Thank you for standing by and welcome to the Kforce Q4 2023 Earnings Conference Call. I would now like to welcome Joe Liberatore, President and CEO, to begin the call. Joe, over to you.
Joe Liberatore
Good afternoon. This call contains certain statements that are forward-looking, that are based upon certain assumptions and expectations and are subject to risks and uncertainties. Actual results may vary materially from the factors listed in Kforce's public filings and other reports and filings with the SEC. We cannot undertake any duty to update any forward-looking statements. You can find additional information about our results in our earnings release and our SEC filings. In addition, we have published our prepared remarks within our Investor Relations portion of our website.
I'm tremendously grateful for the extraordinary efforts of the Kforce team who executed well in 2023, in an environment that proved to be more challenging than originally expected. Our results driven by solid execution and a focused business model also allowed us to continue allocating significant capital towards strategic investments in our people and tools. As a result, we enter 2024 well positioned to take additional market share and create significant long-term returns for our shareholders. The investments we are making include a continuation of our efforts to transform the back office, implementing AI in certain areas to drive efficiency and productivity while further institutionalizing our one Kforce organizational design and operating principles.
During 2023, we selected Workday as our future state enterprise cloud application for our HCM and financials which will complement our Microsoft front-end application and create a unified and streamlined technology suite for the Firm once fully implemented over the next few years. We are incredibly fortunate to be partnering with Workday and Microsoft, 2 companies at the forefront of investing in AI which puts us in an ideal position to take advantage of these technologies as they become available.
The foundational transformation will be a meaningful contributor to us meeting one of our long-term financial objectives of generating at least 10% operating margins. Our decision to grow our business organically, with a consistent refined business model tailored to provide highly skilled technology talent solutions to world-class companies in the domestic market has been critical to our success over many years and we remain confident that our firm is positioned well for improving market conditions....
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Kforce Inc. (KFRC) Q4 2023 Earnings Call Transcript