Commission file number: 1-10686 MANPOWERGROUP INC. (Exact name of registrant as specified in its charter) United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended: March 31, 2024 or ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from: ______to______ | Wisconsin | 39-1672779 | | --- | ...

MILWAUKEE, May 3, 2024 /PRNewswire/ -- The Board of Directors of ManpowerGroup (NYSE: MAN) has declared a semi-annual dividend of $1.54 per share, a 4.8 percent increase from the most recent semi-annual dividend of $1.47 per share. The dividend is payable on June 14, 2024, to shareholders of record as of the close of business on June 3, 2024.  Additional financial information about ManpowerGroup, including stock history and annual shareholder reports, can be found at http://investor.manpowergroup.com.  ABOU ...

MILWAUKEE, May 1, 2024 /PRNewswire/ -- ManpowerGroup (NYSE: MAN), the leading global workforce solutions company, will ring the closing bell at the New York Stock Exchange on Thursday, May 2nd, to mark its 75th anniversary. Chairman and CEO Jonas Prising, along with the executive leadership team and members of the Board of Directors, will be at the Stock Exchange to celebrate this significant milestone and the company's ongoing commitment to shaping the future of work. "For more than seven decades, our mis ...

ManpowerGroup Inc. (MAN) reported mixed first-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same. The earnings beat, however, failed to impress investors as the stock has hardly moved since the earnings release on Apr 18.Quarterly adjusted earnings of 94 cents per share surpassed the consensus mark by 4.4% but declined 41.6% year over year, mainly due to run-off Proservia Germany business and Argentina-related currency translation losses. Revenues of $4.4 ...

For the quarter ended March 2024, ManpowerGroup (MAN) reported revenue of $4.4 billion, down 7.3% over the same period last year. EPS came in at $0.94, compared to $1.61 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $4.43 billion, representing a surprise of -0.56%. The company delivered an EPS surprise of +4.44%, with the consensus EPS estimate being $0.90.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...

ManpowerGroup (MAN) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.90 per share. This compares to earnings of $1.61 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.44%. A quarter ago, it was expected that this staffing company would post earnings of $1.21 per share when it actually produced earnings of $1.45, delivering a surprise of 19.83%.Over the last four quarters, the com ...

ManpowerGroup (In millions) | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------|-------|---------|-------|-------------|------------------------------------|---------------------| | | | 2023 | | 2022 | % Variance \nAmount \nReported | Constant \nCurrency | | | | | | (Unaudited) | | | | Revenues from Services: | | | | | | | | Americas: | | | | | | | | United States | $ | 741.6 | $ | 854.2 | -13.2 % | -13.2 % | | Other Americas | | 388.6 | | 397.0 | -2.1 % | 9.0 % | | | ...

Operations and Revenue - As of December 31, 2023, ManpowerGroup operated 2,100 offices in approximately 75 countries, connecting millions of people to work each year [12]. - In the Americas segment, 67% of revenue was generated from the United States, with 286 branch and 131 franchise offices as of December 31, 2023 [31]. - In Southern Europe, the largest operations are in France (57% of segment revenue) and Italy (20% of segment revenue), with 1,139 branch offices in total [34]. - Approximately 91% of revenues in the Americas segment were derived from staffing/interim services during 2023 [33]. - In Northern Europe, 84% of revenues were generated from staffing/interim services in 2023 [40]. - The Asia Pacific Middle East (APME) region accounted for approximately 77% of revenues from staffing/interim services during 2023 [41]. - The company operates in approximately 75 countries, with 30% of its workforce in the Americas and 32% in Southern Europe [61]. - Approximately 84% of the company's revenues were generated outside of the United States, primarily in Europe [121]. Financial Performance - Revenues from services decreased by 4.6% in 2023, totaling $18,914.5 million compared to $19,827.5 million in 2022 [186]. - The Americas experienced a significant revenue decrease of 10.6%, primarily due to a $246.4 million decline in demand for staffing services [188]. - Operating profit decreased by 56.0% to $255.8 million, with an operating profit margin of 1.4%, down from 2.9% in 2022 [183]. - Net earnings fell by 76.3% to $88.8 million, with diluted net earnings per share dropping to $1.76 from $7.08 [187]. - The effective income tax rate increased to 56.9% in 2023, compared to 32.9% in 2022 [187]. - Selling and administrative expenses decreased by 4.7% in 2023, mainly due to a reduction in bonuses and sales commissions [198]. - Selling and administrative expenses increased by 15.8% in 2023 compared to 2022, primarily due to $120.4 million in restructuring costs, up from $0.8 million in 2022 [206]. Workforce and Talent Management - The company had around 27,900 full-time equivalent employees as of December 31, 2023 [53]. - The Manpower MyPath program has impacted over 240,000 lives through 2023, with MyPath associates now representing 36% of the associate talent pool [57]. - The Experis Academy has graduated more than 1,900 developers by the end of 2023, addressing skills gaps for over 170 tech companies across 17 countries [58]. - The Future Leader Program saw 198 employees complete it in 2023, totaling 832 since its inception in 2019 [68]. - The Accelerated Leadership Program had 58 completions in 2023, with a total of 90 since its launch in 2022 [68]. Economic and Market Conditions - ManpowerGroup's operations are sensitive to economic factors, making it challenging to forecast future demand for services with certainty [26]. - The company is sensitive to global macroeconomic conditions, with a significant risk of recession impacting demand for staffing services [82]. - Economic conditions in Europe, which accounts for 64% of the company's revenue, are particularly susceptible to geopolitical events and inflationary pressures [84]. - The company expects continued challenges in the business environment, particularly in North America and Europe, due to economic uncertainty [177]. Risks and Challenges - The competitive landscape in the employment services industry is intensifying, with pressure on pricing and the risk of clients opting for in-house resources or AI tools [91]. - The company faces challenges in maintaining profitability during periods of low demand, as selling and administrative expenses do not decline as quickly as revenues [83]. - The company is increasingly reliant on technology systems, which are vulnerable to cyberattacks and system failures, potentially leading to operational disruptions [99]. - Compliance with evolving data privacy and cybersecurity regulations, such as GDPR, adds operational burdens and potential financial penalties [97]. - The company faces intense competition for qualified personnel, particularly in the IT field, which may restrict its ability to fulfill customer requirements [103]. Strategic Initiatives - The company aims for 50% gender parity at the global leadership level by 2025 [64]. - The company is focused on championing diversity, equity, inclusion, and belonging (DEIB) across its operations [60]. - The company aims to diversify revenues beyond core staffing services, focusing on higher-margin professional resourcing, such as its Experis brand in IT recruitment [112]. - The company has made significant acquisitions, including ettain group in 2021, which may introduce unexpected costs and operational risks [117]. - The company has disposed of operations in the Philippines, Russia, and Hungary to optimize its strategic footprint, which may involve financial losses and reputational risks [119]. Shareholder Information - The company has authorized the repurchase of 5.0 million shares in August 2023, with 4.6 million shares remaining authorized for repurchase as of December 31, 2023 [167]. - The total number of shares repurchased in Q4 2023 was 697,138, with an average price paid per share of $71.95 [168]. - The cumulative total shareholder return on the company's common stock was $123 as of December 31, 2023, compared to $150 in 2021 [171]. - The company expects to continue paying semi-annual dividends, subject to review and change at the discretion of the Board of Directors [166]. Cybersecurity and Data Privacy - The company has experienced data security breaches in the past, which have not materially impacted operations, but ongoing vulnerabilities remain a concern [93]. - The Chief Information Security Officer (CISO) leads the global information security organization, providing regular reports on cybersecurity threats and assessments [153]. - The Audit Committee oversees the annual enterprise risk assessment, including cybersecurity threats and mitigation strategies [154].

ManpowerGroup Inc. (NYSE:MAN) Q4 2023 Earnings Conference Call January 30, 2024 8:30 AM ET Company Participants Jonas Prising - Chairman and Chief Executive Officer Jack McGinnis - Executive Vice President and Chief Financial Officer Conference Call Participants Andrew Steinerman - J.P. Morgan Jeff Silber - BMO Capital Markets Josh Chan - UBS Mark Marcon - Baird Kartik Mehta - Northcoast Research Manav Patnaik - Barclay’s Capital Tobey Sommer - Truist Securities Trevor Romeo - William Blair Heather Balsky - ...

Financial Performance - Q4 2023 - Revenue was $4.6 billion, a decrease of 4% as reported and 5% on a constant currency (CC) basis[7] - Gross profit was $811 million, representing 17.5% of revenue[15,7] - Reported EBITA was $24 million, or 0.5% of revenue, while adjusted EBITA was $116 million, or 2.5% of revenue[7] - Reported EPS was -$1.73, while adjusted EPS was +$1.45[7] Financial Performance - Full Year 2023 - Revenue was $18.9 billion, a decrease of 5% as reported and 4% on a constant currency (CC) basis[8] - Gross Margin was 17.8%[8] - Reported EBITA was $346 million, or 1.8% of revenue, while adjusted EBITA was $497 million, or 2.6% of revenue[8] - Reported EPS was $1.76, while adjusted EPS was $6.04[8] Segment Performance - Q4 2023 - Americas revenue was $1.1 billion, a decrease of 9% as reported and 4% on a constant currency basis, with an OUP margin of 3.3% (3.7% as adjusted)[66] - Southern Europe revenue was $914 million, with an OUP margin of -8.9% (+0.4% as adjusted)[91] - Northern Europe revenue was $552 million, with an OUP margin of 3.9%[112] - APME (Asia Pacific Middle East) revenue was $552 million, a decrease of 5% to 3% CC and -1% OCC[112] Debt and Cash Flow - Total debt outstanding as of December 31, 2023, was $962 million[105] - Free cash flow for the full year 2023 was $270 million[83] Q1 2024 Outlook - The company anticipates a revenue decline of 5-9% (4-8% CC)[107] - Gross profit margin is expected to be between 17.2% and 17.4%[107] - The company expects an EBITA margin of 1.7-1.9% excluding Proservia Germany[107] - EPS is projected to be $0.88-$0.98 excluding Proservia Germany, with an unfavorable currency impact of $0.02[107]