ManpowerGroup, Inc. (MAN), a prominent provider of workforce solutions, announced its earnings outlook for the fourth quarter. The company anticipates earnings to fall within the range of $0.98 to $1.08 per share, factoring in an estimated adverse currency effect of $0.01. This guidance does not accommodate potential restructuring charges or influences from Argentina related to non-cash currency translation losses.
According to a consensus of 11 analysts surveyed by Thomson Reuters, the forecasted earnings per share for the quarter stand at $1.37. These analyst expectations typically exclude extraordinary items.
Reflecting on the third quarter, ManpowerGroup declared net earnings of $22.8 million, translating to $0.47 per share. This is a decrease from the previous year's figures of $30.3 million, or $0.60 per share. Excluding restructuring costs and a one-time tax item, the adjusted earnings for the quarter were $1.29 per share.
The company's revenues for the third quarter saw a decline of 3.1%, reaching $4.53 billion, down from $4.68 billion in the same period the previous year. When adjusted for constant currency, revenues fell by 1.8%.
Market analysts had expected the company to report earnings of $1.29 per share, with anticipated revenues of $4.50 billion for the third quarter.
