ManpowerGroup Q1 2023 Earnings Report
Key Takeaways
ManpowerGroup reported a decrease in revenue and earnings per share for Q1 2023 compared to the prior year period. Revenues decreased by 8% to $4.8 billion, and net earnings per diluted share decreased to $1.51. The results were impacted by restructuring costs and a stronger U.S. dollar.
Revenues of $4.8 billion decreased by 8% as reported and 2% in constant currency.
Gross profit margin increased to 18.2%, up 80 basis points year over year.
Manpower, Experis, and Talent Solutions revenues experienced modest organic constant currency declines.
Free Cash Flow was $111 million, and $30 million of common stock was repurchased.
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ManpowerGroup Revenue by Geographic Location
Forward Guidance
ManpowerGroup anticipates diluted earnings per share in the second quarter will be between $1.58 and $1.68, which includes an estimated unfavorable currency impact of 3 cents.
Challenges Ahead
- Second quarter diluted earnings per share will have an estimated unfavorable currency impact of 3 cents.
Revenue & Expenses
Visualization of income flow from segment revenue to net income