Revenues decrease for ManpowerGroup

Freeman Staff

Oct. 21, 2015

MILWAUKEE - ManpowerGroup had a decline in earnings and revenue for the third quarter, which were strongly affected by the stronger U.S. dollar, according to Wednesday’s report. 

According to the Milwaukee-based company, its earnings per diluted share remained the same for the third quarter of 2015 as they were for the same quarter of 2014 - $1.61. The company’s net earnings in the quarter were $123.9 million compared to $130.5 million a year earlier. Revenues for the third quarter were $5 billion, a decrease of 8 percent from the year earlier period, according to the report.

ManpowerGroup said the financial results for the third quarter were “significantly impacted by the stronger U.S. dollar relative to several foreign currencies compared to the prior year period.”

If a constant currency were used, ManpowerGroup said its revenues would have increased 6 percent and net earnings per diluted share would have increased 16 percent.

“Our team executed well in the third quarter, delivering good results despite an increasingly uneven global growth scenario. In this environment of volatile economic growth our clients are seeking to build more agile, flexible organizations to better adapt to any market changes affecting demand for their products and services, and this is where our global workforce solutions can play an important role,” said Jonas Prising, ManpowerGroup CEO, in a statement.