ManpowerGroup Q2 2024 Earnings Report
Key Takeaways
ManpowerGroup reported a decrease in revenue and earnings per share for Q2 2024 compared to the prior year period. Revenues decreased by 7% to $4.5 billion, and net earnings per diluted share decreased to $1.24. The company faced challenging environments in North America and Europe, while experiencing solid demand in Latin America and Asia-Pacific.
Revenues decreased by 7% as reported, or 3% in constant currency, reaching $4.5 billion.
Challenging conditions persisted in North America and Europe, with solid demand in Latin America and Asia-Pacific.
Gross profit margin was 17.4%, with staffing margins remaining solid.
SG&A expenses were reduced by 9% as reported.
ManpowerGroup
ManpowerGroup
ManpowerGroup Revenue by Geographic Location
Forward Guidance
ManpowerGroup anticipates diluted earnings per share in the third quarter will be between $1.25 and $1.35, which includes an estimated unfavorable currency impact of 5 cents. This guidance excludes any restructuring costs and any Argentina related impact of non-cash currency translation losses.
Positive Outlook
- Earnings per share in the third quarter will be between $1.25 and $1.35.
- The guidance includes an estimated unfavorable currency impact of 5 cents.
- Strategic initiatives are being prioritized.
- Sales activities are being driven.
- Costs are being balanced to align with the current operating environment.
Challenges Ahead
- Employers in North America and Europe continue to remain cautious.
- Permanent recruitment activity softened slightly further from the previous quarter.
- There is an estimated unfavorable currency impact of 5 cents.
- The guidance excludes any restructuring costs.
- The guidance excludes any Argentina related impact of non-cash currency translation losses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income