ManpowerGroup (MAN) Tops Q3 EPS by 3c, Revenues Miss; Offers 4Q EPS Outlook Below Consensus

ManpowerGroup (NYSE: MAN) reported Q3 EPS of $2.43, $0.03 better than the analyst estimate of $2.40. Revenue for the quarter came in at $5.42 billion versus the consensus estimate of $5.63 billion.

Jonas Prising, ManpowerGroup Chairman & CEO, said, "Our third quarter results reflect a more challenging economic environment than we had anticipated, in particular for some countries in Europe. While we are cautious on our outlook, we are confident in our ability to manage in a more uncertain environment. We believe our market leading global footprint and diversified business mix, enabled by technology, will continue to serve us well as access to human capital and workforce agility remains a strategic priority for employers globally.

"We are anticipating the fourth quarter of 2018 diluted net earnings per share to be in the range of $2.15 to $2.23, which includes an estimated unfavorable currency impact of 5 cents. This includes an estimated one-time negative impact of 27 cents related to reduced gross profit in France," Prising stated.

GUIDANCE:

ManpowerGroup sees Q4 2018 EPS of $2.15-$2.23, versus the consensus of $2.50.

For earnings history and earnings-related data on ManpowerGroup (MAN) click here.

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