ManpowerGroup(US:MAN)2024-01-30 13:36Financial 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]