ManpowerGroup (MAN) shares are soaring 9.25% in pre-market trading on Thursday, following the release of its second-quarter earnings report that surpassed 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, beating the consensus estimate of $4.363 billion. The company's adjusted earnings per share (EPS) came in at $0.78, significantly outperforming the expected $0.68. 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.
Adding to the positive sentiment, 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. However, it's worth noting that the company faced some challenges, including an $89 million non-cash goodwill impairment charge that affected its net earnings. Despite this, the overall strong results and positive outlook seem to be driving the significant pre-market stock surge.