ManpowerGroupInc. (MAN) reported better-than-expected third-quarter 2024 results. See Zacks Earnings Calendar to stay ahead of market-making news. MAN's quarterly adjusted earnings of $1.3 per share surpassed the consensus mark by a slight margin but declined 6.5% year over year, due to run-off Proservia Germany business and Argentina-related currency translation losses. Revenues of $4.5 billion surpassed the consensus mark by a slight margin but dipped 3% year over year on a reported basis and 2% on a cons ...

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ManpowerGroup (NYSE: MAN ) recently reported its Q3 '24 results that did not sit well with investors. I wanted to go through the numbers and give my thoughts on where the company is heading going forward. MSc in Finance. Long-term horizon investor mostly with 5-10 year horizon. I like to keep investing simple. I believe a portfolio should consist of a mix of growth, value, and dividend-paying stocks but usually end up looking for value more than anything. I also sell options from time to time. Analyst's Dis ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $4.5 billion, down 2% year-over-year in constant currency [8] - Reported EBITA was $79 million, while adjusted EBITA was $117 million, representing a 2% increase in constant currency year-over-year [8][10] - Earnings per diluted share was $0.47 on a reported basis, while adjusted earnings per diluted share was $1.29, a decrease of 8% year-over-year in constant currency [8][10] Business Line Data and Key Metrics Changes - Manpower brand revenue was flat year-over-year on an organic constant currency basis [11] - Experis brand revenue declined by 10% year-over-year [11] - Talent Solutions brand had a revenue increase of 7% year-over-year, with RPO experiencing a slight decline but improvement from the previous quarter [11][12] Market Data and Key Metrics Changes - The Americas segment comprised 23% of consolidated revenue, with revenue in the U.S. decreasing by 4% year-over-year [15][16] - Southern Europe revenue decreased by 1% in constant currency, with France experiencing a 5% decline [18][19] - Northern Europe segment saw an 11% decline in revenue, with the U.K. and Germany facing significant challenges [20][21] Company Strategy and Development Direction - The company is focused on maximizing service delivery while positioning itself for broader capitalizing when market conditions improve [9] - There is an emphasis on diversification, digitization, and innovation strategies to create value for clients and candidates [29][31] - The company is transitioning its South Korea business to a franchise model to drive growth more effectively in complex markets [22][45] Management's Comments on Operating Environment and Future Outlook - Management noted a cautious employer approach in Europe and North America, with optimism about market conditions improving but hesitance to expand workforce spending [5][6] - The outlook for Q4 2024 is cautious, anticipating continued challenges in North America and Europe, particularly in Northern Europe [24][25] - Management expects a slight revenue decrease in Q4, with a forecasted EPS range of $0.98 to $1.08 [25][26] Other Important Information - Free cash flow for Q3 was $67 million, down from $245 million in the prior year [23] - The company repurchased 415,000 shares for $29 million during the quarter [23] - The balance sheet ended with cash of $411 million and total debt of $1 billion [24] Q&A Session Summary Question: Trends in business performance across geographies - Management observed a boost in France from the Olympics but noted a decline in September and early October, with a revenue trend of about -6% for Q4 [33][34] - The U.S. performed in line with expectations, with mid-single digit declines, while Italy showed slight improvement [34][35] - Northern Europe faced consistent pressure, with a revenue decline of -12% expected to worsen in Q4 [36] Question: Incremental margins and efficiency improvements - Management indicated that adjustments made in 2023 helped preserve margins, with expectations of 25 basis points improvement in EBITA margin from ongoing transformations [37][39] Question: Divergence in performance between Manpower and Experis brands - The difference in performance is attributed to the post-pandemic hiring bubble in IT and professional resources, with Manpower holding up better amid economic headwinds [41][42] Question: Financial impact of the South Korea divestiture - The South Korea business is expected to generate about $80 million in revenue per quarter, with minimal impact on EPS for Q4 [44][46] Question: Economic catalysts for Northern Europe - Management highlighted the weak economic outlook in Germany and the Nordics, with potential improvements dependent on macroeconomic conditions and increased sales activities [48][49] Question: Tax proposals in France - Management noted that proposed tax increases are temporary and aimed at addressing current deficits, with a commitment to long-term tax reform [53][55] Question: Behavioral changes among employers in the temp space - Employers are holding onto their workforce longer, with no significant shift towards permanent hiring over temporary hiring observed [57][58] Question: Cost actions in response to market conditions - Restructuring actions were concentrated in Northern Europe, with significant costs in Germany and Sweden, aimed at adjusting to lower demand [60][61]

For the quarter ended September 2024, ManpowerGroup (MAN) reported revenue of $4.53 billion, down 3.1% over the same period last year. EPS came in at $1.29, compared to $1.38 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $4.48 billion, representing a surprise of +1.01%. The company delivered an EPS surprise of +0.78%, with the consensus EPS estimate being $1.28. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

ManpowerGroup (MAN) came out with quarterly earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $1.38 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 0.78%. A quarter ago, it was expected that this staffing company would post earnings of $1.27 per share when it actually produced earnings of $1.30, delivering a surprise of 2.36%. Over the last four quarters, the co ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Nick Hengst +1.414.906.7356 nicholas.hengst@manpowergroup.com ManpowerGroup Reports 3rd Quarter 2024 Results • Revenues of $4.5 billion (-3% as reported, -2% constant currency) • Continuation of challenging environment in North America and Europe during the quarter, good demand in Latin America and Asia-Pacific region • Gross profit margin of 17.3%. Staffing margins remained solid; permanent recruitment levels stable • SG&A reductions reflect adjustments to market ...

Revenues of $4.5 billion (-3% as reported, -2% constant currency) Continuation of challenging environment in North America and Europe during the quarter, good demand in Latin America and Asia-Pacific region Gross profit margin of 17.3%. Staffing margins remained solid; permanent recruitment levels stable SG&A reductions reflect adjustments to market conditions during the quarter (-5% both as reported and constant currency as adjusted1) U.S. business launched innovative Manpower branch offices inside select ...

Wall Street analysts expect ManpowerGroup (MAN) to post quarterly earnings of $1.28 per share in its upcoming report, which indicates a year-over-year decline of 7.3%. Revenues are expected to be $4.48 billion, down 4.1% from the year-ago quarter. Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Prior to a company's earnings announcement, it is crucial to ...

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