Hudson Global reports Q4 adjusted EPS 4c vs. 33c last year

Reports Q4 revenue $34M vs. $43.6M last year. Jeff Eberwein, Chief Executive Officer at Hudson Global, said, “Our fourth quarter financial results continued to reflect the year-over-year impact of the slowdown in the US technology sector and as well as fourth quarter hiring delays at certain clients, which we expect to recover beginning in the second quarter of 2024. In addition, we made significant reductions to our cost structure in the second half of 2023 and first quarter of 2024 while retaining the ability to deliver excellent service to our clients when activity rebounds.” Mr. Eberwein continued, “The fourth quarter represented a significant strategic shift for Hudson RPO. In November, we hired Jake Zabkowicz as Hudson RPO’s Global CEO, and he has begun implementing numerous positive changes to the business, including expanding our geographic presence as well as our service offering to existing RPO clients. These growth initiatives, coupled with 2023’s significant new business wins, give us high confidence in our business improving in 2024. This confidence is demonstrated by our extensive history of opportunistic share repurchases, including a recent January 2024 repurchase via a privately negotiated transaction.”