Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $4.5 billion, down 2% year-over-year in constant currency [8] - Reported EBITA was $79 million, while adjusted EBITA was $117 million, representing a 2% increase in constant currency year-over-year [8][10] - Earnings per diluted share was $0.47 on a reported basis, while adjusted earnings per diluted share was $1.29, a decrease of 8% year-over-year in constant currency [8][10] Business Line Data and Key Metrics Changes - Manpower brand revenue was flat year-over-year on an organic constant currency basis [11] - Experis brand revenue declined by 10% year-over-year [11] - Talent Solutions brand had a revenue increase of 7% year-over-year, with RPO experiencing a slight decline but improvement from the previous quarter [11][12] Market Data and Key Metrics Changes - The Americas segment comprised 23% of consolidated revenue, with revenue in the U.S. decreasing by 4% year-over-year [15][16] - Southern Europe revenue decreased by 1% in constant currency, with France experiencing a 5% decline [18][19] - Northern Europe segment saw an 11% decline in revenue, with the U.K. and Germany facing significant challenges [20][21] Company Strategy and Development Direction - The company is focused on maximizing service delivery while positioning itself for broader capitalizing when market conditions improve [9] - There is an emphasis on diversification, digitization, and innovation strategies to create value for clients and candidates [29][31] - The company is transitioning its South Korea business to a franchise model to drive growth more effectively in complex markets [22][45] Management's Comments on Operating Environment and Future Outlook - Management noted a cautious employer approach in Europe and North America, with optimism about market conditions improving but hesitance to expand workforce spending [5][6] - The outlook for Q4 2024 is cautious, anticipating continued challenges in North America and Europe, particularly in Northern Europe [24][25] - Management expects a slight revenue decrease in Q4, with a forecasted EPS range of $0.98 to $1.08 [25][26] Other Important Information - Free cash flow for Q3 was $67 million, down from $245 million in the prior year [23] - The company repurchased 415,000 shares for $29 million during the quarter [23] - The balance sheet ended with cash of $411 million and total debt of $1 billion [24] Q&A Session Summary Question: Trends in business performance across geographies - Management observed a boost in France from the Olympics but noted a decline in September and early October, with a revenue trend of about -6% for Q4 [33][34] - The U.S. performed in line with expectations, with mid-single digit declines, while Italy showed slight improvement [34][35] - Northern Europe faced consistent pressure, with a revenue decline of -12% expected to worsen in Q4 [36] Question: Incremental margins and efficiency improvements - Management indicated that adjustments made in 2023 helped preserve margins, with expectations of 25 basis points improvement in EBITA margin from ongoing transformations [37][39] Question: Divergence in performance between Manpower and Experis brands - The difference in performance is attributed to the post-pandemic hiring bubble in IT and professional resources, with Manpower holding up better amid economic headwinds [41][42] Question: Financial impact of the South Korea divestiture - The South Korea business is expected to generate about $80 million in revenue per quarter, with minimal impact on EPS for Q4 [44][46] Question: Economic catalysts for Northern Europe - Management highlighted the weak economic outlook in Germany and the Nordics, with potential improvements dependent on macroeconomic conditions and increased sales activities [48][49] Question: Tax proposals in France - Management noted that proposed tax increases are temporary and aimed at addressing current deficits, with a commitment to long-term tax reform [53][55] Question: Behavioral changes among employers in the temp space - Employers are holding onto their workforce longer, with no significant shift towards permanent hiring over temporary hiring observed [57][58] Question: Cost actions in response to market conditions - Restructuring actions were concentrated in Northern Europe, with significant costs in Germany and Sweden, aimed at adjusting to lower demand [60][61]

Core Insights - ManpowerGroup reported revenue of $4.53 billion for Q3 2024, a decrease of 3.1% year-over-year, with EPS at $1.29 compared to $1.38 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $4.48 billion by 1.01%, while EPS also surpassed the consensus estimate of $1.28 by 0.78% [1] Revenue Performance by Region - Revenues from Services- Americas: $1.05 billion, down 5.5% year-over-year, below the average estimate of $1.07 billion [2] - Revenues from Services- APME: $562.80 million, slightly above the estimate of $544.78 million, with a year-over-year decline of 0.4% [2] - Revenues from Services- Southern Europe: $2.10 billion, exceeding the estimate of $2.04 billion, with a year-over-year decrease of 0.6% [2] - Revenues from Services- Northern Europe: $828.30 million, below the estimate of $857.94 million, reflecting a year-over-year decline of 9.4% [2] - Revenues from Services- Southern Europe- Other Southern Europe: $496.80 million, above the estimate of $479.56 million, with a year-over-year increase of 2.4% [2] - Revenues from Services- Southern Europe- France: $1.18 billion, slightly above the estimate of $1.16 billion, with a year-over-year decline of 2.5% [2] - Revenues from Services- Americas- United States: $697.40 million, below the estimate of $713.82 million, with a year-over-year decline of 7.3% [2] - Revenues from Services- Americas- Other Americas: $353.10 million, slightly below the estimate of $355.24 million, with a year-over-year decline of 1.6% [2] - Revenues from Services- Southern Europe- Italy: $419.10 million, above the estimate of $404.87 million, with a year-over-year increase of 1.3% [2] Operating Unit Profit - Corporate expenses reported at -$30.20 million, better than the average estimate of -$42.10 million [2] Stock Performance - Manpower shares returned +1.1% over the past month, compared to the S&P 500 composite's +3.8% change, with a Zacks Rank 3 (Hold) indicating potential performance in line with the broader market [3]

ManpowerGroup (MAN) came out with quarterly earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $1.38 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 0.78%. A quarter ago, it was expected that this staffing company would post earnings of $1.27 per share when it actually produced earnings of $1.30, delivering a surprise of 2.36%. Over the last four quarters, the co ...

Revenues of $4.5 billion (-3% as reported, -2% constant currency) Continuation of challenging environment in North America and Europe during the quarter, good demand in Latin America and Asia-Pacific region Gross profit margin of 17.3%. Staffing margins remained solid; permanent recruitment levels stable SG&A reductions reflect adjustments to market conditions during the quarter (-5% both as reported and constant currency as adjusted1) U.S. business launched innovative Manpower branch offices inside select ...

Wall Street analysts expect ManpowerGroup (MAN) to post quarterly earnings of $1.28 per share in its upcoming report, which indicates a year-over-year decline of 7.3%. Revenues are expected to be $4.48 billion, down 4.1% from the year-ago quarter. Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Prior to a company's earnings announcement, it is crucial to ...

Group 1: Investment Strategies - The Zacks Rank system focuses on earnings estimates and revisions to identify winning stocks, while value investing remains a preferred method for finding strong stocks across various market conditions [1] - The Style Scores system allows investors to find stocks with specific traits, particularly in the "Value" category, where stocks with high Zacks Ranks and "A" grades for Value are considered high-quality [2] Group 2: Company Analysis - ManpowerGroup (MAN) - ManpowerGroup (MAN) has a Zacks Rank of 2 (Buy) and a Value grade of A, with a current P/E ratio of 11.87, compared to the industry average of 15.82 [3] - The P/B ratio for MAN is 1.59, which is favorable compared to the industry's average P/B of 2.14, with a 52-week range for MAN's P/B from 1.41 to 1.74 [4] - The P/S ratio for MAN is 0.18, significantly lower than the industry's average P/S of 0.33, indicating potential undervaluation [5] Group 3: Company Analysis - RCM Technologies (RCMT) - RCM Technologies (RCMT) is rated 1 (Strong Buy) with a Value grade of A, indicating strong investment potential [5] - RCMT has a P/B ratio of 5.49, which is higher than the industry's average P/B of 2.14, with a 52-week range from 4.90 to 11.03 [6] Group 4: Overall Valuation Insights - Both ManpowerGroup and RCM Technologies are likely undervalued based on their current metrics, and their earnings outlook suggests they are strong value stocks at the moment [7]

ManpowerGroup Inc. (MAN) has had a decent run in the past three months. The company's shares have gained 5.5% compared with the 4.4% rally of its industry and the 4.6% rise of the Zacks S&P 500 composite. MAN reported mixed second-quarter 2024 results. Quarterly adjusted earnings of $1.3 per share surpassed the consensus mark by 2.4% but declined 17.7% year over year due to run-off Proservia Germany business and Argentina-related currency translation losses. Revenues of $4.5 billion lagged the consensus mar ...

Core Insights - Talent Solutions RPO has been ranked 7 in the Overall Enterprise RPO Leaders category in HRO Today's 2024 Baker's Dozen Customer Satisfaction Ratings for Recruitment Process Outsourcing [2][3] - The company also achieved notable rankings in Quality of Service Leaders (7) and Size of Deals Leaders (4), reflecting its commitment to delivering exceptional talent solutions [2][3] Company Performance - The recognition in the Baker's Dozen rankings highlights Talent Solutions RPO's focus on high-quality service, strong partnerships, and scalable talent solutions tailored to client needs [3][4] - The 4 ranking in Size of Deal indicates the company's capability to manage large-scale, complex projects efficiently [3] Industry Recognition - HRO Today's Baker's Dozen is regarded as one of the most comprehensive and prestigious ratings in the RPO industry, based solely on client satisfaction surveys [3] - The top 10 placement reinforces Talent Solutions RPO's dedication to operational excellence, innovation, and customer-centric solutions [4] Service Offerings - Talent Solutions RPO provides flexible, data-driven recruitment strategies that enhance employer branding and deliver top talent across various industries [4][8] - The company is part of ManpowerGroup, which offers a range of workforce solutions, including RPO, TAPFIN-MSP, and Right Management, addressing complex workforce needs [6][8]

Investors looking for stocks in the Staffing Firms sector might want to consider either ManpowerGroup (MAN) or Robert Half (RHI) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companie ...

Core Insights - ManpowerGroup's 2023-2024 ESG report emphasizes the importance of sustainable employment and the company's commitment to driving change through upskilling and green initiatives [2][3] Group 1: Planet - ManpowerGroup was recognized by TIME Magazine as one of the World's Most Sustainable Companies in 2024 [3] - The company achieved 100% renewable electricity at its Global Headquarters, earning Energy Star certification and reducing overall electricity consumption by 18% in one year [3] - By the end of 2024, 43% of total electricity used by ManpowerGroup facilities in the U.S. will be renewably sourced [3] - The electric vehicle fleet grew to over 500 vehicles in 2024, while nearly 350 gas-powered vehicles were removed [3] Group 2: People & Prosperity - The Executive Leadership Team now includes 30% women, 40% racially diverse members, and 70% non-U.S. born members [4] - ManpowerGroup aims to train, develop, and place up to 10 million people into green jobs by 2030 [4] - Over 240,000 individuals across 12 countries are learning new skills through Manpower's MyPath platform [4] - The company impacted nearly 30,000 refugees globally in 2023, marking an 85% increase from 2022 [4] Group 3: Principles of Governance - ManpowerGroup was recognized as one of the World's Most Ethical Companies by Ethisphere for the 15th time [5] - The company achieved a Platinum medal in the 2023 EcoVadis assessment, placing it in the top 1% of rated companies worldwide [5] - ManpowerGroup updated its guidelines for the ethical use of artificial intelligence [5]