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Manpower Trades Higher After Mixed Q2 Earnings

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Manpower Group (NYSE: MAN) reported second-quarter earnings of $2.17 per share, which beat the analyst consensus estimate of $2 by 8.5%. This is a 7.66% decrease over earnings of $2.35 per share from the same period last year.

The company reported quarterly sales of $5.373 billion, which missed the analyst consensus estimate of $5.41 billion by 0.68%. This is a 5.02% decrease over sales of $5.657 billion the same period last year.

"We are making operational and strategic progress and continue to invest in technology for every stage of the HR value chain as this remains core to everything we do today and in the future.As skills shortages continue to be felt by many employers, demand for our extensive portfolio of workforce solutions and services across our global footprint continues to provide us with opportunities for profitable growth in many markets,” said Jonas Prising CEO of ManpowerGroup.

"We anticipate diluted earnings per share in the third quarter will be between $1.88 and $1.96, which includes an estimated unfavorable currency impact of 4 cents and an estimated unfavorable impact from the expected French corporate tax rate change for 2019 of 5 cents."

Manpower Group shares were trading up 1.4% at $91.52 at time of publication. The stock has a 52-week high of $97.96 and a 52-week low of $61.57.

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Posted-In: Earnings News

 

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