ManpowerGroup (NYSE:MAN) reported upbeat earnings for the first quarter on Thursday.
The company posted quarterly earnings of 51 cents per share which beat the analyst consensus estimate of 49 cents per share. The company reported quarterly sales of $4.510 billion which beat the analyst consensus estimate of $4.414 billion.
ManpowerGroup said it sees second-quarter GAAP EPS of 91 cents to $1.05, versus market estimates of 96 cents.
Jonas Prising, ManpowerGroup Chair & CEO, said, “We delivered solid performance in the quarter driven by disciplined execution and stabilization in demand trends across key markets. This marks five consecutive quarters of year over year revenue trend improvement. We grew our pipeline, saw continued momentum across the portfolio within our Manpower brand, and enhanced operating leverage through reductions in SG&A. Building on this progress and our ongoing transformational efforts, we are taking proactive steps to ensure we are positioned to succeed in any operating environment. This includes launching a strategic transformation program that is intended to not only improve our cost and margin profile, yet also enable ManpowerGroup to gain market share and deliver best-in-class client service. Further, we continue to make significant progress in advancing our AI strategy, including improving the candidate and client experience and bringing new products to market to enhance our competitive position and drive long-term value creation.”
ManpowerGroup shares rose 1.5% to trade at $31.45 on Friday.
These analysts made changes to their price targets on ManpowerGroup following earnings announcement.
- Baird analyst Mark Marcon maintained ManpowerGroup with an Outperform rating and lowered the price target from $50 to $45.
- Truist Securities analyst Tobey Sommer maintained the stock with a Hold and lowered the price target from $38 to $34.
Considering buying MAN stock? Here’s what analysts think:
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