ManpowerGroup's revenue up 7% in third quarter

Oct. 21, 2017

MILWAUKEE - Revenues for Manpower-Group’s third quarter increased by 7 percent for a total of $5.5 billion when compared to the same period in 2016.

According to the announcement Friday, ManpowerGroup had third quarter net earnings per diluted of $2.04 compared to $1.87 in the prior year period. Net earnings in the quarter were $137.7 million compared to $129.2 million a year earlier.

Manpower reported that financial results in the quarter were affected by stronger foreign currencies relative to the U.S. dollar compared to the prior year period.

On a constant currency basis, revenues increased 4 percent and net earnings per diluted share increased 6 percent.

Earnings per share in the quarter were positively impacted 6 cents by changes in foreign currencies compared to the prior year.

“We made good progress with solid results in the third quarter and we are well positioned to finish 2017 with strong performance,” said Jonas Prising, ManpowerGroup chairman & CEO, in a statement. “Our market- leading global footprint and extensive portfolio of workforce solutions continue to resonate well with our clients and candidates. We expect the broad-based global improvement in both employer hiring intentions and economic growth to provide us with good opportunities for continued profitable growth.

“We are anticipating the fourth quarter of 2017 diluted net earnings per share to be in the range of $2.01 to $2.09, which includes an estimated favorable currency impact of 12 cents.”