ManpowerGroup Beats Q1 Estimates, Guides Q2 EPS Above Consensus


ManpowerGroup Inc. MAN reported first-quarter FY21 revenue growth of 4.4% year-over-year to $5.14 billion, beating the consensus of $4.67 billion.

  • Gross margin expanded by 184 bps to 17.4%. Operating income increased by 40.9% Y/Y to $138.7 million, and the margin expanded by 70 bps to 2.7%.
  • Q1 Adjusted EPS was $1.88, beating the consensus of $1.47.
  • Revenue from services: Americas $1.25 billion (+24.8% Y/Y), Southern Europe $2.19 billion (+1.6% Y/Y), Northern Europe $1.09 billion (-3.5% Y/Y) and APME $618.2 million (-1.5% Y/Y).
  • ManpowerGroup registered strong performance of higher-margin brands during the quarter, with Experis recording 31% revenue growth and Talent Solutions 10% revenue growth.
  • ManpowerGroup generated cash from operating activities for the quarter of $70.6 million, compared to $140.9 million a year ago.
  • The company held cash and equivalents of $777.3 million as of March 31, 2022.
  • During the quarter, the company repurchased $60 million in shares and reduced incremental acquisition debt from $75 million to $50 million.
  • Q2 Outlook: ManpowerGroup expects Q2 EPS of $2.31 - $2.39 versus the consensus of $2.05. The company's outlook includes an estimated unfavorable currency impact of 19 cents.
  • Price Action: MAN shares traded higher by 4.13% at $92.43 on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading IdeasBriefsHuman Resource & Employment ServicesIndustrials
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!