The company posted a profit of $53.5 million, or $1.13 a share, marking a significant turnaround from the $67.1 million loss, or $1.44 a share, recorded during the same period last year. Revenue reached $4.86 billion, an 8% increase that surpassed the $4.72 billion forecast by analysts surveyed by FactSet.
In section Market Quotes
ManpowerGroup Shares Surge on Earnings Recovery and Guidance
ManpowerGroup shares climbed 10% to $43 in premarket trading after the employment services firm reported a return to profitability for the second quarter and issued third-quarter earnings guidance that narrowly outperformed consensus estimates, defying recent analyst concerns regarding foreign exchange pressures and business divestments.
Looking ahead, management projects adjusted earnings between 96 cents and $1.06 per share for the third quarter. The midpoint of this range, $1.02, sits slightly above market expectations. This outlook provides a buffer against skepticism from UBS analysts, who had previously warned that tax burdens, the sale of the Jefferson Wells unit, and currency fluctuations might force the company to issue guidance below Wall Street targets.
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