Earnings call transcript: Hays Q1 2026 shares fall as fees slip 3%

Hays PLC reported a 3% decline in first-quarter net fees, despite an 8% increase in consultant net fee productivity year over year. The company's shares fell 8.92%, bringing the stock price down from $64.25 to $58.53. Permanent recruitment fees decreased by 7%, while temporary and contracting fees dropped 1%. In the Americas, net fees grew by 9%, and Asia saw a 6% increase.

Germany, UK&I, and ANZ experienced declines of 6%, 5%, and 3%, respectively. The company remains on track for £50 million in structural cost savings this year, with £10 million already delivered in Q1. Hays aims to grow net fees to over £1 billion, driven by productivity improvements rather than adding consultants. The company's strategy focuses on taking market share and expects relatively benign market conditions, but a sharper economic slowdown could negatively impact hiring demand.