ManpowerGroup Analysts Cut Their Forecasts After Q3 Earnings - ManpowerGroup (NYSE:MAN)

Core Insights - ManpowerGroup reported third-quarter earnings of 83 cents per share, exceeding the analyst consensus estimate of 81 cents per share, and quarterly sales of $4.634 billion, surpassing the estimate of $4.600 billion [1] - The company anticipates fourth-quarter GAAP earnings between 78 cents and 88 cents per share, compared to market estimates of 78 cents per share [1] Group 1: Financial Performance - The third-quarter earnings of 83 cents per share marked a positive deviation from the expected 81 cents per share [1] - Quarterly sales reached $4.634 billion, exceeding the forecast of $4.600 billion [1] - The company projects fourth-quarter earnings in the range of 78 to 88 cents per share, aligning with market expectations [1] Group 2: Management Commentary - Jonas Prising, Chair & CEO, highlighted a return to growth after 11 consecutive quarters of revenue declines, attributing this to stabilized demand in North America and Europe [2] - The company is focused on increasing market share and reducing structural costs to enhance efficiency [2] - Prising expressed confidence in delivering long-term value to stakeholders [2] Group 3: Market Reaction and Analyst Ratings - Following the earnings announcement, ManpowerGroup shares fell by 5.1%, trading at $33.72 [2] - Barclays analyst Manav Patnaik maintained an Equal-Weight rating and reduced the price target from $50 to $42 [5] - UBS analyst Joshua Chan maintained a Neutral rating and lowered the price target from $40 to $39 [5]