Group 1 - ManpowerGroup reported financial results for the final quarter of the 2024 fiscal year, indicating revenue and earnings per share performance [1] - The date of January 30th was significant for shareholders of ManpowerGroup due to the financial results announcement [1] Group 2 - Crude Value Insights provides an investing service focused on oil and natural gas, emphasizing cash flow and companies with growth potential [1] - The service includes a 50+ stock model account and in-depth cash flow analyses of exploration and production firms [2] - Subscribers can engage in live chat discussions about the sector [2]

Financial Data and Key Metrics Changes - In Q4 2024, revenue was $4.4 billion, down 3% year-over-year in constant currency [16] - Reported EBITA for the quarter was $76 million, while adjusted EBITA was $94 million, representing a decrease of 12% in constant currency year-over-year [17][21] - Adjusted earnings per share decreased 27% year-over-year in constant currency, with reported EPS at $0.47 and adjusted EPS at $1.02 [17][19] Business Line Data and Key Metrics Changes - On an organic constant currency basis, the Manpower brand declined 1%, Experis declined 6%, and Talent Solutions increased by 6% [23] - Talent Solutions' RPO business experienced a year-over-year revenue increase, while MSP recorded strong double-digit revenue growth [23][24] - Right Management saw a year-over-year revenue decline as outplacement activity began to slow [23] Market Data and Key Metrics Changes - Revenue in the Americas segment was $1.1 billion, representing a 7% increase compared to the prior year period on a constant currency basis [29] - Southern Europe revenue was $2 billion, representing a 3% decrease in constant currency [34] - Northern Europe revenue declined 16% in constant currency, with the U.K. market experiencing a 22% decrease [37][38] Company Strategy and Development Direction - The company aims to exploit opportunities in AI by providing re-skilling and upskilling solutions to clients and candidates [12][52] - The DDI Strategy focuses on Diversification, Digitization, and Innovation to strengthen EBITA and grow revenues [51][52] - The company is adjusting to current market conditions while maintaining investments in technology and digitization [54] Management's Comments on Operating Environment and Future Outlook - Management noted improved sentiment regarding the U.S. economic outlook but expressed concerns over European economic growth [9][10] - The company anticipates continued challenges in Europe, particularly in Northern Europe, while seeing some encouraging performance in the U.S. [15][46] - The first quarter of 2025 is expected to be challenging, with revenue guidance indicating a decrease of 5% to 9% [48][49] Other Important Information - Free cash flow for the full year 2024 was $258 million, with a strong finish in Q4 at $236 million [43] - The company repurchased 552,000 shares for $34 million during the fourth quarter [44] - The balance sheet ended with cash of $509 million and total debt of $953 million [45] Q&A Session Summary Question: Can you explain the bridge between the adjusted EPS and the first quarter guidance? - Management explained that the sequential drop in EPS is driven by EBITDA margin changes and revenue impacts from net dispositions and fewer working days [57][60][64] Question: What actions will the company take if macro conditions remain poor? - Management indicated that they have already taken actions in Northern Europe, reducing FTEs in line with revenue trends, while maintaining capacity for future growth [70][72] Question: Are there any use cases for GenAI and competitive threats? - Management noted that many companies are investing in AI but have yet to see meaningful impact at scale, emphasizing the importance of human capabilities alongside technology [76][78] Question: Is there an increase in orders in the U.S. post-election? - Management observed a change in tone and optimism among employers but noted that it has not yet translated into increased demand [86][88] Question: What is the outlook for Europe, particularly France? - Management highlighted the contrasting performance between Northern and Southern Europe, with Northern Europe facing significant challenges [92][94][96]

Core Insights - ManpowerGroup reported $4.4 billion in revenue for Q4 2024, a 5% year-over-year decline, with EPS of $1.02 compared to $1.45 a year ago, indicating a decrease in profitability [1] - The revenue fell short of the Zacks Consensus Estimate of $4.42 billion by 0.52%, while the EPS exceeded the consensus estimate of $0.99 by 3.03% [1] Revenue Breakdown - Services revenue from the Americas was $1.07 billion, surpassing the average estimate of $1.04 billion, with a slight year-over-year decline of 0.1% [4] - Services revenue from APME reached $768.40 million, significantly exceeding the estimated $532.03 million, reflecting a 39.2% increase year-over-year [4] - Southern Europe generated $2.04 billion in revenue, slightly below the estimated $2.08 billion, marking a 3.2% decline year-over-year [4] - Northern Europe reported $768.40 million, falling short of the $826.74 million estimate, representing a 15.9% year-over-year decrease [4] - Other Southern Europe generated $490.20 million, close to the estimated $492.76 million, with a year-over-year increase of 0.7% [4] - France's revenue was $1.13 billion, below the estimated $1.16 billion, showing a 6.2% decline year-over-year [4] - The United States contributed $691.80 million, exceeding the estimate of $658.77 million, with a year-over-year decline of 1.5% [4] - Other Americas reported $381.80 million, slightly above the estimate of $377.62 million, reflecting a 2.6% year-over-year increase [4] - Italy's revenue was $418.70 million, close to the estimated $424.71 million, with a year-over-year increase of 0.9% [4] Profitability Metrics - Corporate expenses resulted in a loss of $32.50 million, better than the average estimate of a loss of $40.56 million, indicating improved cost management [4] Stock Performance - Manpower's shares have returned +4.6% over the past month, outperforming the Zacks S&P 500 composite's +1.2% change, although the stock currently holds a Zacks Rank 5 (Strong Sell), suggesting potential underperformance in the near term [3]

Group 1: Earnings Performance - ManpowerGroup reported quarterly earnings of $1.02 per share, exceeding the Zacks Consensus Estimate of $0.99 per share, but down from $1.45 per share a year ago, representing an earnings surprise of 3.03% [1] - The company posted revenues of $4.4 billion for the quarter ended December 2024, missing the Zacks Consensus Estimate by 0.52% and down from $4.63 billion year-over-year [2] - Over the last four quarters, Manpower has surpassed consensus EPS estimates four times, but has topped consensus revenue estimates only once [2] Group 2: Stock Performance and Outlook - Manpower shares have increased approximately 4.6% since the beginning of the year, outperforming the S&P 500's gain of 2.7% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to those expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.87 on revenues of $4.25 billion, and for the current fiscal year, it is $4.90 on revenues of $17.78 billion [7] Group 3: Industry Context - The staffing industry, represented by the Zacks Industry Rank, is currently in the bottom 24% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [8] - Another company in the staffing industry, Kelly Services, is expected to report quarterly earnings of $0.44 per share, reflecting a year-over-year decline of 52.7%, with revenues projected at $1.15 billion, down 6.7% from the previous year [9]

Financial Performance - Net earnings for Q4 2024 were $22.5 million, or $0.47 per diluted share, compared to net losses of $84.5 million, or $1.73 per diluted share, in the prior year period [2]. - Full year 2024 revenues totaled $17.9 billion, a decrease of 6% compared to the prior year, or a decrease of 3% in constant currency [7]. - Net earnings increased by 63.5% to $145.1 million in 2024, compared to $88.8 million in 2023 [22]. - Net earnings per share (diluted) rose to $3.01 in 2024, a 70.6% increase from $1.76 in 2023 [22]. - Operating profit for 2024 was $306.0 million, reflecting a 19.6% increase from $255.8 million in 2023 [22]. Revenue and Profit Margins - Revenues for Q4 2024 were $4.4 billion, representing a 5% decrease from the prior year period, and a 3% decrease on a constant currency basis [5]. - Revenues from services for 2024 were $17,853.9 million, a decrease of 5.6% compared to $18,914.5 million in 2023 [22]. - The gross profit margin for Q4 2024 was 17.2%, with staffing margins remaining solid despite a slight decrease [5]. - Gross profit for 2024 was $3,086.8 million, down 8.1% from $3,358.0 million in 2023 [22]. Cash Flow and Investments - Cash provided by operating activities was $247 million, with free cash flow of $236 million for the quarter [4]. - Cash provided by operating activities was $309.2 million, a decrease from $348.2 million in the previous year, reflecting a decline of 11.5% [31]. - Cash used in investing activities totaled $68.2 million, slightly down from $74.1 million in 2023, indicating a reduction of 3.9% [31]. - Cash used in financing activities decreased to $282.4 million from $349.5 million, a reduction of 19.2% [31]. - The company reported a decrease in cash and cash equivalents to $509.4 million at the end of the period, down from $581.3 million at the beginning, a decline of 12.4% [31]. - Capital expenditures for the year were $51.1 million, compared to $78.2 million in 2023, showing a decrease of 34.6% [31]. Stock and Debt Management - The company repurchased $34 million of common stock during the quarter [5]. - The company repurchased $140.0 million in common stock, down from $179.8 million in the previous year, a decrease of 22.1% [31]. - Long-term debt decreased to $929.4 million in 2024 from $990.5 million in 2023 [29]. - Current liabilities were $4,437.1 million in 2024, down from $4,799.7 million in 2023 [29]. Regional Performance - Regional performance showed a challenging environment in Europe and North America, while Asia Pacific and Latin America experienced good demand [5]. Future Outlook - The company anticipates diluted earnings per share for Q1 2025 to be between $0.47 and $0.57, including an estimated unfavorable currency impact of 6 cents [7]. - Significant progress was made in global transformation initiatives during 2024, with expectations to continue this progress in 2025 [6]. Impairments and Provisions - The goodwill impairment charge for 2023 was $55.1 million related to the investment in the Netherlands [23]. - The provision for doubtful accounts increased to $9.0 million from $5.4 million, reflecting a rise of 66.7% [31]. - The company experienced a loss on sales of subsidiaries of $8.2 million, up from $1.3 million in the previous year, indicating a significant increase in losses [31]. Currency Impact - The impact of exchange rate changes on cash was a loss of $30.5 million, contrasting with a gain of $17.7 million in 2023 [31].

Financial Performance - ManpowerGroup reported net earnings of $0.47 per diluted share for Q4 2024, a significant recovery from a net loss of $1.73 per diluted share in Q4 2023, with net earnings of $22.5 million compared to net losses of $84.5 million a year earlier [1][4] - Revenues for Q4 2024 were $4.4 billion, reflecting a 5% decrease from the prior year period, and a 3% decrease on a constant currency basis [1][2][9] - For the full year 2024, net earnings were $145.1 million, or $3.01 per diluted share, compared to $88.8 million, or $1.76 per diluted share in 2023, with revenues totaling $17.9 billion, a 6% decrease compared to the previous year [4][19] Cost and Expenses - The fourth quarter included restructuring costs, pension settlements, and net losses from the sale of the Austria business, which collectively reduced earnings per share by $0.55 [2] - Selling and administrative expenses for Q4 2024 decreased by 19.2% compared to the previous year, contributing to an operating profit of $68.2 million, a significant improvement from a loss of $39.5 million in Q4 2023 [12][22] Regional Performance - North America and Europe faced challenging operating conditions, while Asia Pacific and Latin America experienced good demand [3][9] - In the Americas, revenues from services were $4.2 billion, a decrease of 4.3% compared to the previous year, with the United States showing a slight decline of 0.1% [21][22] Future Outlook - The company anticipates diluted earnings per share in Q1 2025 to be between $0.47 and $0.57, factoring in an estimated unfavorable currency impact of 6 cents [4] - ManpowerGroup aims to continue its global transformation initiatives and expects to make further progress in 2025 [3]

Core Insights - ManpowerGroup is participating in the World Economic Forum's Annual Meeting in Davos to address the impact of AI and the green transition on workforce skills and sentiment [1][3][5] - A significant portion of the workforce is optimistic about green initiatives, but there is skepticism regarding AI's benefits for career advancement and opportunities for upward mobility [1][5] Group 1: Workforce Sentiment and Trends - 70% of individuals feel positive about green initiatives transforming jobs, while only 53% believe AI will benefit their careers [1] - 25% of workers see opportunities for upward mobility in their current roles [1] - ManpowerGroup will release its "2025 Global Workforce Trends" report, highlighting 16 key trends influenced by workforce expansion, new working methods, digital transformation, and global changes [5] Group 2: Leadership and Discussions - Jonas Prising, ManpowerGroup Chair & CEO, emphasizes the need for targeted upskilling to unlock human potential and address workforce challenges [3] - A strategic session led by Prising will focus on developing practical solutions for companies and governments to adapt to the evolving job market [3] Group 3: Events and Engagements - ManpowerGroup will host a session titled "What Will Work Be Once AI Grows Up?" featuring industry leaders discussing the future of work in an AI-driven environment [4] - The event will be available for on-demand viewing, allowing broader access to insights shared during the discussion [4]

Core Insights - ManpowerGroup Inc. (MAN) is experiencing challenges due to weak demand in certain geographies, impacting growth in 2024, despite having a strong Growth Score of B and an expected earnings increase of 14% year over year for 2025 [1] Group 1: Business Performance and Strategy - ManpowerGroup provides comprehensive workforce solutions, including recruitment, training, outsourcing, and consulting services, which helps mitigate concentration risks through a diversified business mix and geographic footprint [2] - The company is focusing on strong pricing and cost control while investing significantly in technology to enhance productivity and efficiency, including cloud-based applications and global technology infrastructure [3] - Recent acquisitions, such as Tingari in 2022 and ettain in 2021, have strengthened ManpowerGroup's Talent Solutions brand and its Experis business, particularly in Financial Services, Healthcare, and Government sectors [3] Group 2: Shareholder Returns - ManpowerGroup has demonstrated a commitment to shareholder returns, repurchasing $179.8 million in shares in 2023, $270 million in 2022, and $210 million in 2021, alongside dividend payments of $144.3 million, $139.9 million, and $136.6 million over the same period [4] - The anticipated Fed rate cuts may create a more favorable economic environment for growth, potentially leading to increased hiring and bolstering ManpowerGroup's income and cash flow for stable dividend payouts [4] Group 3: Challenges and Financial Position - The company faces significant challenges, particularly in Europe and North America, where hiring remains sluggish due to a weak macroeconomic environment and political uncertainties, especially in France [5] - ManpowerGroup's liquidity position, indicated by a current ratio of 1.15 at the end of Q3 2024, is below the industry average of 1.46, suggesting a need for monitoring despite being above 1, which typically indicates a capacity to meet short-term obligations [6] Group 4: Market Position and Comparisons - ManpowerGroup currently holds a Zacks Rank of 3 (Hold), with better-ranked stocks in the Zacks Business Services sector including UiPath (Rank 1) and RB Global, Inc. (Rank 1), both of which have higher long-term earnings growth expectations [7][8]

Group 1 - ManpowerGroup announced the appointment of Ger Doyle as Country Manager for ManpowerGroup U.S., effective January 1, 2025, overseeing operations across multiple brands [1][2] - Ger Doyle previously led Experis U.S. and is recognized for successfully transforming the business, including the acquisition of ettain group [2] - Kye Mitchell will succeed Doyle as Head of Experis U.S., having joined ManpowerGroup as President of Experis Services in June 2024 [1][2] Group 2 - ManpowerGroup is a leading global workforce solutions company, providing talent sourcing, assessment, development, and management services to organizations [3] - The company operates in over 70 countries and territories, delivering innovative workforce solutions and creating value for clients and candidates [3] - ManpowerGroup has been recognized for its commitment to diversity and ethical practices, being named one of the World's Most Ethical Companies for the 15th time in 2024 [3]

Core Insights - C-suite leaders in U.S. and European manufacturing and distribution sectors express optimism for 2025, anticipating a shift in buyer sentiment [1][2] - The report emphasizes the importance of adapting pricing models to align with economic growth and evolving buyer expectations [2][4] Pricing Strategies - Nearly half (46 percent) of manufacturers and distributors report cautious optimism and are preparing pricing models for better economic conditions, with 26 percent taking proactive measures to implement new products and pricing models [3][4] - Companies focusing on proactive pricing strategies, value-based approaches, and technology will gain a competitive edge in a fluctuating market [4] Market Pressures and Inflation - Inflation impacts pricing strategies, with manufacturing leaders prioritizing revenue gain (45 percent) and distribution leaders focusing on margin maintenance (38 percent) [4] - Value-based pricing (28 percent) is identified as the top optimization strategy, followed by market-based pricing (25 percent) [4] Automation and AI in Pricing - Pricing automation is advancing, with 49 to 53 percent of respondents reporting fully integrated systems for pricing [5] - However, AI adoption remains limited, with only 29 percent using AI for operational efficiency, primarily for pricing process improvements (50 percent) [5] Workforce and Hiring Trends - A strong pricing function is essential due to market volatility, with over half (52 percent) of respondents from companies with 500+ employees relying on teams of 11 to 20 people focused on pricing [6] - Ninety-five percent of these companies plan to increase hiring for pricing roles in 2025 [6] Survey Demographics - The report includes responses from 67 percent manufacturers and 33 percent distributors, with senior-level sales (64 percent) and finance (30 percent) professionals making up the majority of respondents [7]