Core Insights - The 11th annual Total Workforce Index™ (TWI) reveals a competitive global talent landscape influenced by technological advancements, geopolitical changes, and sustainability focus [1][2] - The United States, Singapore, and Canada maintain the top three positions for the fourth consecutive year, while China enters the top ten for the first time [3][5] Rankings Overview - The TWI evaluates over 200 factors across 64 global labor markets, introducing new measures for AI, sustainability, peace, and stability [2][5] - Malaysia remains in fourth place, with Ireland and the UK moving up to fifth and sixth, respectively [3] - The United Arab Emirates rises to seventh place, while Switzerland and Australia rank eighth and ninth, respectively [3] Key Findings - The top three markets excel due to skilled workforce availability, employment-friendly regulations, and political stability [5] - China has improved its ranking from 55th in 2020 to 11th last year, now entering the top ten [5] - The United States leads in Availability and Productivity categories, while Thailand tops the Cost Efficiency category for the third consecutive year [5][6] Regional Highlights - In the Americas, the United States excels in Availability and Productivity, with Canada improving in Productivity due to AI readiness [6] - In the Asia-Pacific region, Singapore maintains its second place, and Malaysia holds steady at fourth [7] - In the EMEA region, Ireland and the UK show strong performances, with Bahrain emerging as a top performer in Cost Efficiency [8] TWI Methodology - The TWI assesses the ease of sourcing, hiring, and retaining workforce skills, scoring markets on over 200 unique factors grouped into four categories: Availability, Cost Efficiency, Regulation, and Productivity [10][11]

Core Insights - The 2024 Internal Audit Priorities Survey by Jefferson Wells indicates that cybersecurity remains the top risk, while the use of Generative AI tools is becoming a significant risk priority for internal audit leaders and audit committees [1][2][3] - Only 26% of organizations have fully integrated Generative AI standards into their governance framework, highlighting a gap in comprehensive controls [1] - There is a growing demand for internal audit skillsets in cybersecurity, data analytics, IT audit, and Generative AI, with 37% of organizations planning to increase staff to address these needs [2][3] Industry Trends - The survey emphasizes the urgent need for Internal Audit functions to adapt to advancements in AI and cybersecurity, suggesting that departments must expand their capabilities and seek external expertise to fill skill gaps [3] - The increase in organizations planning to expand their internal audit teams marks the first significant growth since 2020, reflecting the heightened demand for technology skills [2]

Financial Performance - Total revenues from services for Q2 2024 were $4,520.7 million, a decrease of 6.9% compared to $4,856.1 million in Q2 2023[9] - Gross profit for Q2 2024 was $785.9 million, down 8.9% from $862.3 million in Q2 2023[9] - Net earnings for Q2 2024 were $60.1 million, a decline of 7.8% compared to $65.2 million in Q2 2023[10] - Basic net earnings per share for Q2 2024 were $1.25, down from $1.30 in Q2 2023[9] - Operating profit for the six months ended June 30, 2024, was $167.0 million, down from $225.5 million in the same period of 2023, reflecting a decline of 26%[74] - Net earnings per share (diluted) for the three months ended June 30, 2024, was $1.24, compared to $1.29 for the same period in 2023[42] - Net earnings for June 2024 were $99.8 million, a decrease of 30.2% compared to $143.0 million in June 2023[12] Assets and Liabilities - Total current assets decreased to $5,233.3 million as of June 30, 2024, from $5,572.1 million at the end of 2023, representing a decline of 6.1%[5] - Total assets decreased to $8,453.6 million as of June 30, 2024, down from $8,830.2 million at the end of 2023, a reduction of 4.3%[7] - Total current liabilities decreased to $4,578.0 million as of June 30, 2024, from $4,799.7 million at the end of 2023, a decrease of 4.6%[7] - Long-term debt as of June 30, 2024, was $961.7 million, down from $990.5 million at the end of 2023, a reduction of 2.8%[7] - Shareholders' equity decreased to $2,145.9 million as of June 30, 2024, from $2,234.1 million at the end of 2023, a decline of 3.9%[7] Cash Flow and Expenditures - Cash used in operating activities was $(21.9) million, an improvement from $(31.2) million in the same period last year[12] - Capital expenditures for June 2024 were $(23.7) million, down from $(34.6) million in June 2023[12] - Cash and cash equivalents at the end of June 2024 were $468.9 million, compared to $407.6 million at the end of June 2023[12] - Interest paid in June 2024 was $37.2 million, down from $49.1 million in June 2023[12] - Income taxes paid in June 2024 were $89.9 million, slightly lower than $91.8 million in June 2023[12] Revenue Segmentation - The total revenue for the six months ended June 30, 2024, was $8,924.0 million, compared to $8,356.7 million for the same period in 2023, indicating a year-over-year increase of about 6.8%[31] - The United States segment generated $1,377.4 million in revenue for the six months ended June 30, 2024, up from $1,289.5 million in the prior year, reflecting a growth of approximately 6.8%[31] - The Southern Europe segment, particularly France, reported revenue of $2,304.2 million for the six months ended June 30, 2024, compared to $2,234.5 million in the same period of 2023, marking an increase of about 3.1%[31] - The Americas region accounted for a total revenue of $2,100.8 million for the six months ended June 30, 2024, compared to $2,017.2 million in the prior year, showing an increase of approximately 4.1%[31] Accounting and Compliance - The company is currently assessing the impact of new accounting standards on financial statement disclosures, effective for 2024 and 2025[26][27] - The company’s lease liabilities are recognized at the present value of remaining lease payments, with ROU assets adjusted for prepayments and incentives[21] - The company’s revenue recognition for certain contracts is based on the right to invoice, reflecting the value provided to clients[28] Shareholder Actions - The company declared a semi-annual dividend of $1.54 per share on May 3, 2024, an increase from $1.47 per share declared on May 5, 2023[49] - During the six months ended June 30, 2024, the company repurchased 1.0 million shares at a cost of $77.0 million, with 3.6 million shares remaining authorized for repurchase under the 2023 authorization[50] Foreign Exchange and Derivatives - The company reported a foreign currency translation loss of $10.2 million for Q2 2024, compared to a gain of $11.0 million in Q2 2023[10] - The accumulated other comprehensive loss increased to $(500.4) million as of June 30, 2024, from $(466.0) million at the end of 2023, primarily due to foreign currency translation losses[48] - The company uses cross-currency swaps and forward contracts to hedge against foreign currency exchange rate risks, with specific instruments designated as hedges of net investments in foreign subsidiaries[53] Miscellaneous - The company recognized a full impairment of the remaining goodwill balance for the Netherlands reporting unit as of December 31, 2023, due to fair value falling below carrying value[25] - The company expects total consolidated amortization expense related to intangible assets for the remainder of 2024 to be $16.2 million, with future annual expenses projected at $30.3 million for 2025 and $26.2 million for 2027 through 2029[44]

MILWAUKEE, July 23, 2024 /PRNewswire/ -- ManpowerGroup (NYSE: MAN), the leading global workforce solutions company, has been named one of the World's Most Sustainable Companies by TIME Magazine. With a score of 70.48 out of 100, ManpowerGroup secured the 96th position among 500 ranked companies and emerged as the top performer in the workforce solutions industry. This distinction follows ManpowerGroup's recent honor as one of the World's Most Ethical Companies® for the 15th time, as well as achieving a Plat ...

Core Viewpoint - ManpowerGroup Inc. reported mixed second-quarter 2024 results, with earnings exceeding expectations while revenues fell short [1] Financial Performance - Quarterly adjusted earnings were $1.3 per share, surpassing the consensus estimate by 2.4% but declining 17.7% year over year due to the run-off of the Proservia Germany business and currency translation losses related to Argentina [2] - Revenues totaled $4.5 billion, slightly missing the consensus mark and decreasing 6.9% year over year on a reported basis, and 3% on a constant-currency basis [2] - Operating profit was $101.1 million, down 6.1% year over year on a reported basis, with an operating profit margin of 1.4%, slightly decreasing year over year [12] Segmental Performance - Revenues from Southern Europe were $2.1 billion, declining 5.8% on a reported basis and 4.4% at constant currency [4] - France's revenues were $1.2 billion, down 7.3% on a reported basis and 6.2% at constant currency [4] - Revenues from Italy were $434.9 million, declining 5% on a reported basis and 3.9% at constant currency [4] - Revenues from America reached $1.1 billion, surpassing expectations but down 3.1% year over year on a reported basis [10] - Northern Europe revenues declined 12.1% on a reported basis to $837.3 million, lagging estimates [11] Cash Flow and Balance Sheet - The company used $137.9 million in cash for operating activities, with capital expenditures of $11.9 million and $27 million spent on stock repurchases during the quarter [5] - Cash and cash equivalents at the end of the quarter were $468.9 million, down from $604.8 million in the previous quarter [13] - Long-term debt decreased slightly to $961.7 million from $968.9 million in the preceding quarter [13] Future Outlook - ManpowerGroup expects EPS in the range of $1.25-$1.35, with the midpoint of $1.3 being lower than the current Zacks Consensus Estimate of $1.33 [6]

t H r = 10 H = 0 1-1 100 T I 18 i I 1 III = a M di LOG 1 1 1 1 ricochet64 I remain bullish on ManpowerGroup Inc. (NYSE:MAN) stock. The company's second quarter bottom line was a positive surprise, and the stock offers an appealing shareholder yield. The focus of my prior article published on April 19, 2024, was MAN's first quarter performance. My latest write-up reviews ManpowerGroup's recently announced Q2 2024 results, its Q3 guidance, and the shareholder capital return outlook. MAN's second quarter EPS c ...

-14.5 -35.9 754.6 -1.1 -20.4 +2.1 684.8 682.7 Q2 2023 Restructuring Q2 2023 Reported Operational Acquisitions / Currency Q2 2024 as Adjusted Run-off Proservia Q2 2024 Reported Dispositions, net Germany Impact July 2024 | 8 Americas Segment (24% of Revenue) ManpowerGroup | Second Quarter 2024 Results July 2024 | 9 8% Revenue Trend - CC Revenue Trend (1) (1) Prior year period includes restructuring costs. As adjusted to exclude these costs, OUP Margin change was -40 bps vs the prior year. % of Segment Souther ...

Over the last four quarters, the company has surpassed consensus EPS estimates four times. While Manpower has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Staffing Firms is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Nick Hengst +1.414.906.7356 nicholas.hengst@manpowergroup.com ManpowerGroup Reports 2nd Quarter 2024 Results MILWAUKEE, July 18, 2024 -- ManpowerGroup (NYSE: MAN) today reported net earnings of $1.24 per diluted share for the three months ended June 30, 2024 compared to net earnings of $1.29 per diluted share in the prior year period. Net earnings in the quarter were $60.1 million compared to net earnings of $65.2 million a year earlier. Revenues for the first qua ...

The quarter included final run-off losses related to the Proservia Germany business. These losses reduced earnings per share by $0.06 in the second quarter. Excluding these losses, earnings per share was $1.30 per diluted share in the quarter representing a decrease of 12% in constant currency.2 We anticipate diluted earnings per share in the third quarter will be between $1.25 and $1.35, which includes an estimated unfavorable currency impact of 5 cents. Our guidance excludes any restructuring costs and an ...