Overview
ManpowerGroup Q3 revenue grows 2% to $4.6 bln, beating analyst expectations
Adjusted EPS for Q3 beats consensus, despite decrease in net earnings
Company sees stabilization in North America and Europe, despite currency impacts
Outlook
ManpowerGroup expects Q4 diluted EPS between $0.78 and $0.88
Company focuses on increasing market share and reducing structural costs
Result Drivers
REGIONAL DEMAND - Stabilization in North America and Europe contributed to improved revenue trends
BUSINESS MIX SHIFT - Gross profit margin impacted by shift towards enterprise clients and lower permanent recruitment
RESTRUCTURING - SG&A expenses declined due to restructuring actions
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $4.63 bln | $4.59 bln (8 Analysts) |
Q3 Adjusted EPS | Beat | $0.83 | $0.81 (10 Analysts) |
Q3 EPS | $0.38 | ||
Q3 Net Income | $18 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the employment services peer group is "buy."
Wall Street's median 12-month price target for ManpowerGroup Inc is $46.00, about 17.3% above its October 15 closing price of $38.02
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nPn4RSg9ja
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)