MILWAUKEE – ManpowerGroup Inc. on Wednesday said its net earnings
jumped to $70.1 million, or 86 cents per share, from $23.9 million a
year earlier, or 31 cents a share.
The Milwaukee-based staffing company said the prior-year quarter was
depressed due to a large one-time restructuring charge to cover
office closures and severance costs. There were no restructuring
charges in the current year's quarter, however.
Revenues for the quarter rose 3 percent to $4.9 billion, the company
"Despite the slow start in January, we are experiencing more
positive revenue trends as we enter the second quarter in almost all
of the major geographies. Growth in our Europe business improved to
over 4 percent in constant currency in the quarter, and exceeded 3
percent on an average daily basis,” said Jeffrey A. Joerres,
ManpowerGroup chairman and CEO.
"The work that our team did last year to simplify and re-calibrate
our company is paying off as we were able to achieve strong flow
through and operational leverage,” he added.
According to Manpower, the company expects second quarter earnings
per share to be between $1.26 to $1.34, including an estimated
favorable currency impact of 2 cents.