ManpowerGroup Shares Tumble 17% Following Quarterly Earnings Miss

A 17% drop in ManpowerGroup stock on Thursday signaled investor anxiety as the staffing firm grappled with heavy restructuring charges and a soft quarterly outlook. Despite the sharp intraday decline, the company’s shares remain 46% higher for the year, even as it prepares for a major leadership transition at the helm.

Yesterday, 20:53· Money Talk· 1,457 reads

The company reported third-quarter profit of $34.1 million, or 71 cents a share, missing the 94-cent consensus forecast from FactSet analysts. Management attributed a 30-cent hit to earnings per share to costs tied to a transformation program, asset sales, and non-cash losses stemming from hyperinflation in Argentina. On an adjusted basis, however, earnings reached $1.01 per share, meeting market expectations.

Revenue climbed 4.4% to $4.84 billion, trailing the $4.86 billion anticipated by analysts. Looking ahead, the firm issued a cautious guidance for the current quarter, projecting earnings between $1.03 and $1.13 per share. This midpoint fails to satisfy the $1.10 target set by Wall Street.

Alongside the financial report, the company announced that Becky Frankiewicz, currently president and chief strategy officer, will succeed Jonas Prising as CEO. Prising has led the organization since 2014.

ManpowerGroup Shares Tumble 17% Following Quarterly Earnings Miss

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