United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934: For the quarterly period ended: March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM: ______TO______ Commission file number: 1-10686 MANPOWERGROUP INC. (Exact name of registrant as specified in its charter) | WISCONSIN | 39-1672779 | | --- | ...

MILWAUKEE, May 2, 2025 /PRNewswire/ -- The Board of Directors of ManpowerGroup (NYSE: MAN) has declared a semi-annual dividend of $0.72 per share, which represents a year-over-year reduction. The Board considered the current earnings environment and related payout and yield ratios in determining the dividend amount. The dividend is payable on June 16, 2025 to shareholders of record as of the close of business on June 2, 2025. Additional financial information about ManpowerGroup, including stock history and ...

Core Insights - ManpowerGroup, Inc. reported mixed first-quarter 2025 results with earnings missing estimates while revenues exceeded expectations [1] - Adjusted EPS was 44 cents, missing the Zacks Consensus Estimate by 15.4% and down 53.2% year over year [1] - Revenues totaled $4.1 billion, surpassing the consensus mark by 3.6% but decreased 7.1% from the previous year [1] Revenue Breakdown - Revenues from America were $1.1 billion, down 2% year over year but up 5.3% at constant currency [2] - U.S. revenues reached $688.8 million, exceeding estimates and rising 1.2% year over year [2] - Southern Europe revenues were $1.83 billion, declining 7.4% on a reported basis and 4.8% at constant currency [3] - Northern Europe revenues fell 16% on a reported basis to $730.8 million [4] - APME revenues totaled $476.4 million, down 11% on a reported basis [4] Operating Performance - The company reported an operating profit of $28.2 million, down 57.2% year over year [5] - Operating profit margin was 0.69% [5] Balance Sheet & Cash Flow - Cash and cash equivalents at the end of the quarter were $395 million, down from $604.8 million a year ago [6] - Long-term debt was $971.4 million, slightly up from $968.9 million [6] - The company used $153.2 million in cash from operating activities [6] Q2 Guidance - Management guided second-quarter EPS in the range of 65-75 cents per share, below the current Zacks Consensus Estimate of $1 [7] - The guidance includes an estimated favorable currency impact of 3 cents and a 46.5% effective tax rate [7]

Core Insights - Talent Solutions Right Management has launched a strategic brand evolution called "The Right Way," focusing on a human-centered, data-backed framework to align business strategy with workforce development for sustained organizational success [1][3]. Brand Strategy - The updated brand strategy emphasizes a commitment to transforming organizations through people-focused career development, featuring a distinctive design element known as "The Right Way loop" that symbolizes purpose and identity [2][3]. - The brand evolution aims to refine the company's story, messaging, and market presence, showcasing its leadership in the industry [3]. Approach and Solutions - Right Management's evolved approach is built on three foundational pillars that support comprehensive solution areas, addressing the changing needs of today's employees who seek meaningful career journeys and alignment with organizational values [4][6]. - The brand evolution enhances market positioning while delivering a distinctive experience for clients, candidates, and partners, with implementation across global markets starting this month [4]. Service Offerings - Right Management provides data-driven insights, career-focused coaching, and measurable outcomes to strengthen the bond between people and organizations [6]. - Key services include assessment and analytics, executive and leadership coaching, and career transition and outplacement support for employees at all levels [6].

Group 1 - The previous investment outlook for ManpowerGroup (NYSE: MAN) was a sell rating due to a belief that the business's near-term outlook was structurally impaired, with the stock trading at 12.5x, indicating potential downside [1] - The investment strategy focuses on long-term investments while incorporating short-term shorts to uncover alpha opportunities, emphasizing a bottom-up analysis of individual companies' fundamental strengths and weaknesses [1] - The investment duration is medium to long-term, aiming to identify companies with solid fundamentals, sustainable competitive advantages, and growth potential [1]

Financial Data and Key Metrics Changes - In Q1 2025, revenue was $4.1 billion, down 5% year-over-year in constant currency [12] - Reported EBITDA for the quarter was $36 million, while adjusted EBITDA was $52 million, representing a decrease of 32% in constant currency year-over-year [12][19] - Adjusted earnings per share decreased 51% year-over-year in constant currency, with reported EPS at $0.12 and adjusted EPS at $0.44 [13][20] Business Line Data and Key Metrics Changes - On an organic constant currency basis, the Manpower brand declined 2%, the Experience brand declined 5%, and the Talent Solutions brand declined 2% [22] - The RPO business within Talent Solutions experienced a slight revenue decrease, while the MSP business recorded a strong double-digit revenue increase [22] - Gross profit margin was 17.1%, with staffing margin contributing to a 10 basis point reduction due to mixed shifts and lower bench utilization [23] Market Data and Key Metrics Changes - Revenue in the Americas segment was $1.1 billion, representing a 5% increase year-over-year in constant currency [28] - Southern Europe revenue was $1.8 billion, reflecting a 5% decrease in constant currency [33] - Northern Europe segment revenue decreased 14% in constant currency, with the UK market experiencing a 16% decline [37][39] Company Strategy and Development Direction - The company is focused on diversifying, digitizing, and innovating, with plans to showcase technology advancements at VivaTech in Paris [51] - Emphasis on building tailored solutions with a focus on candidate experience and data privacy [52] - The company aims to manage costs effectively while driving profitable revenue growth through organizational alignment [54] Management's Comments on Operating Environment and Future Outlook - Management noted increased uncertainty due to recent trade policy announcements, leading clients to adopt a wait-and-see approach [9][10] - Despite challenges, there is optimism for growth in specific markets like LATAM and APME, with a focus on skills development as AI adoption accelerates [16] - The forecast for Q2 2025 anticipates continued challenges in Europe and North America, with EPS expected to be in the range of $0.65 to $0.75 [46][47] Other Important Information - Free cash flow represented an outflow of $167 million compared to an inflow of $104 million in the prior year, influenced by timing of payables [43] - The company ended the quarter with cash of $395 million and total debt of $1.07 billion, resulting in a net debt of $677 million [45] Q&A Session Summary Question: Impact of pending tariffs on future performance - Management indicated that a resolution of U.S. tariffs could lead to a quick turnaround in employer confidence and demand [60][65] Question: Signs of layoffs and hiring freezes - Management noted that while there is caution among employers, they are not significantly letting go of workforces, focusing instead on specialized skills [69][71] Question: Client mindset regarding tariff policy - Clients are adopting a wait-and-see approach, anticipating a negotiated settlement rather than a permanent change [82][86] Question: Restructuring actions in Northern Europe - Management discussed restructuring charges and expected payback periods, indicating a focus on improving profitability in challenging markets [91][95] Question: Impact of immigration policy on business - Management stated that current immigration policies have not significantly impacted business performance [135]

ManpowerGroup (MAN) came out with quarterly earnings of $0.44 per share, missing the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.94 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -15.38%. A quarter ago, it was expected that this staffing company would post earnings of $0.99 per share when it actually produced earnings of $1.02, delivering a surprise of 3.03%.Over the last four quarters, the co ...

ManpowerGroup (MAN) Q1 2025 Earnings Conference Call April 17, 2025 08:30 AM ET Company Participants Operator - Conference Call OperatorJonas Friesing - Chair and CEOJack McGinnis - Chief Financial OfficerUnknown - Conference Call Participant / Investor Relations Representative Conference Call Participants Andrew Steinerman - Analyst, J.P. MorganManav Patnik - Analyst, BarclaysMark Marcon - Analyst, BayardKarthik Mehta - Analyst, North Coast ResearchJosh Chan - Analyst, UBSTrevor Romeo - Analyst, William Bl ...

Revenue Performance - Revenues from Services for Q1 2024 were $4,403.3 million, a decrease of 7.3% compared to $4,752.3 million in Q1 2023[3] - In Q1 2024, the United States segment reported revenues of $680.4 million, an 8.3% decline from $741.6 million in Q1 2023[3] - Southern Europe revenues for Q1 2024 totaled $1,981.3 million, a decrease of 4.2% from $2,067.9 million in Q1 2023[3] - For Q2 2024, revenues from Services were $4,520.7 million, down 6.9% from $4,856.1 million in Q2 2023[4] - The United States segment in Q2 2024 reported revenues of $697.0 million, a slight decline of 1.7% from $709.1 million in Q2 2023[4] - In Q2 2024, the Other Americas segment saw revenues of $367.4 million, down 5.7% from $389.6 million in Q2 2023[4] - Revenues from Services for the three months ended September 30, 2024, were $4,530.2 million, a decrease of 3.1% compared to $4,675.6 million in the same period of 2023[5] - The United States revenue for the three months ended September 30, 2024, was $697.4 million, a decline of 4.5% from $730.2 million in 2023[5] - France's revenue for the three months ended September 30, 2024, was $1,156.8 million, a decrease of 2.9% compared to $1,191.0 million in 2023[5] - Northern Europe reported a revenue of $828.3 million for the three months ended September 30, 2024, down 9.4% from $914.2 million in 2023[5] - The total revenue from Southern Europe for the three months ended September 30, 2024, was $2,095.6 million, a slight decline of 0.6% from $2,108.7 million in 2023[5] - Revenues from Services for the year ended December 31, 2024, were $18,914.5 million, a decrease of 5.6% compared to $20,000.4 million in 2023[6] Operating Profit - Operating profit for Q1 2024 was $65.9 million, down 44.1% from $117.9 million in Q1 2023[3] - Operating profit for Q2 2024 was $101.1 million, a decrease of 6.1% compared to $107.6 million in Q2 2023[4] - Operating profit for the nine months ended September 30, 2024, was $237.8 million, down 19.5% from $295.3 million in the same period of 2023[5] - Operating Unit Profit for the United States for the three months ended September 30, 2024, was $22.3 million, a decrease of 9.0% from $24.5 million in 2023[5] - Operating profit for the year ended December 31, 2024, was $306.0 million, an increase of 19.6% from $255.8 million in 2023[6] Earnings Before Income Taxes - Earnings before income taxes for Q1 2024 were $57.5 million, compared to $110.4 million in Q1 2023[3] - Earnings before income taxes for Q2 2024 were $92.4 million, slightly down from $95.8 million in Q2 2023[4] - Earnings before income taxes for the three months ended September 30, 2024, were $59.2 million, an increase from $54.7 million in 2023[5]

Core Insights - ManpowerGroup reported a significant decline in net earnings for Q1 2025, with earnings per diluted share at $0.12 compared to $0.81 in the same period last year, reflecting a decrease of 85.5% [1][12] - Revenues for the first quarter were $4.1 billion, marking a 7% decrease from the prior year, with a 5% decrease on a constant currency basis and a 2% decrease on an organic constant currency basis [1][8] Financial Performance - The current quarter's results were adversely affected by restructuring costs and increased income tax charges, which reduced earnings per share by $0.32 [2] - Excluding these charges, earnings per share would have been $0.44, representing a 51% decrease in constant currency [2] - Gross profit margin was reported at 17.1%, indicating solid staffing margins across most major markets despite slightly weaker permanent recruitment activity [8] Regional Performance - The company experienced growth in Latin America and Asia Pacific, while facing challenges in Europe and North America [3] - In the Americas, revenues increased slightly by 1.2% in the United States, while Southern Europe saw a decline, particularly in France, which dropped by 12.2% [14] Future Outlook - ManpowerGroup anticipates diluted earnings per share for Q2 2025 to be between $0.65 and $0.75, factoring in a favorable currency impact of 3 cents and a 46.5% effective tax rate [4] - The demand outlook remains uncertain due to increased caution following trade policy developments [3]