ManpowerGroup (MAN) shares surged 5.71% in pre-market trading on Thursday following the release of its second-quarter earnings report, which exceeded analyst expectations. The global workforce solutions company demonstrated resilience in a challenging economic environment, with results pointing to stabilizing trends in key markets.
For the second quarter, ManpowerGroup reported revenue of $4.519 billion, surpassing the consensus estimate of $4.363 billion. The company's adjusted earnings per share (EPS) came in at $0.78, beating the expected $0.71. This strong performance was attributed to stabilizing demand in the United States and parts of Europe, while Latin America and Asia Pacific regions showed robust demand.
Despite the positive results, ManpowerGroup faced some challenges. The company incurred an $89 million non-cash goodwill impairment charge, which affected its net earnings. Looking ahead, ManpowerGroup provided an optimistic outlook for the third quarter, projecting EPS between $0.77 and $0.87. This guidance, coupled with the company's focus on market share gains and accelerated AI adoption to enhance client value, appears to have bolstered investor confidence in ManpowerGroup's future performance amidst ongoing economic volatility.