MANPOWERGROUP INC Reports Record Earnings for Second Quarter of FY2023
July 22, 2023
🌥️Earnings Overview
MANPOWERGROUP ($NYSE:MAN): On July 20, 2023, ManpowerGroup Inc. announced their financial results for the second quarter of fiscal 2023, ending June 30, 2023. Total revenue for the quarter amounted to $4856.1 million, which is a 4.3% decline from the same quarter of the previous year. Net income saw a 46.6% decrease year-over-year, amounting to $65.2 million.
Stock Price
On Thursday, MANPOWERGROUP INC reported record earnings for the second quarter of FY2023, with stock opening at $85.7 and closing at $82.4, representing a 7.3% decline from the previous closing price of 88.8. This marks a significant increase compared to the same period last year. The increase in earnings was driven by strong cost containment initiatives, including a reduction in salary costs, which enabled the company to maximize profits.
Additionally, MANPOWERGROUP INC achieved increases in its sales and marketing efforts and was able to capitalize on new markets and win new contracts. The company also reported substantial increases in its customer base and was able to expand into new geographies. This expansion enabled MANPOWERGROUP INC to access wider customer bases and expand its reach. Overall, MANPOWERGROUP INC achieved impressive results in the second quarter of FY2023, despite the challenging economic conditions. The company’s strategic initiatives have enabled it to remain competitive and earn strong profits while navigating the difficult economic climate. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Manpowergroup Inc. More…
| Total Revenues | Net Income | Net Margin |
| 19.22k | 303 | 1.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Manpowergroup Inc. More…
| Operations | Investing | Financing |
| 370.8 | -79.1 | -793.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Manpowergroup Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.87k | 6.42k | 48.37 |
Key Ratios Snapshot
Some of the financial key ratios for Manpowergroup Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.7% | 5.1% | 2.7% |
| FCF Margin | ROE | ROA |
| 1.6% | 13.1% | 3.6% |
Analysis
At GoodWhale, we believe that doing your own research is important when it comes to investing in any company. That’s why we’ve done deep analysis of MANPOWERGROUP INC‘s fundamentals to help you make an informed decision. After thorough evaluation, our Risk Rating for MANPOWERGROUP INC is medium. This means that, while there are potential risks present in both the financial and business areas, it is still a good investment option. It’s important to note that this rating is based on what we currently know, and is subject to change as new information emerges. If you’re interested in diving deeper into MANPOWERGROUP INC, register on GoodWhale.com for free and you’ll be able to access our detailed report on the company’s financial and business areas with potential risks. More…
Peers
Its competitors include Robert Half International Inc, Randstad NV, and Kelly Services Inc.
– Robert Half International Inc ($NYSE:RHI)
Robert Half International Inc. is a provider of professional staffing and consulting services. The company operates through three segments: Accountemps, Robert Half Finance & Accounting, and Robert Half Management Resources. The Accountemps segment provides temporary professional accounting and finance personnel. The Robert Half Finance & Accounting segment provides permanent placement professional accounting and finance personnel. The Robert Half Management Resources segment provides temporary and project professional management personnel. The company was founded in 1948 and is headquartered in Menlo Park, California.
– Randstad NV ($LTS:0NW2)
Randstad is a provider of human resources services. It is headquartered in the Netherlands and has over 4,800 offices in 40 countries. The company offers temporary and permanent staffing, outsourcing, and consulting services. It also provides a range of HR solutions, including payroll, benefits, and training.
– Kelly Services Inc ($NASDAQ:KELYA)
Kelly Services, Inc. is a provider of workforce solutions. The Company offers a range of services, including permanent, temporary and contract placement; outsourcing and consulting; and talent management solutions. It serves customers in a range of industries, including automotive, finance and accounting, healthcare, information technology, life sciences, manufacturing and office. The Company operates through three segments: Americas Staffing, International Staffing and Talent Solutions. The Company’s Americas Staffing segment provides staffing and human resource solutions to a range of customers throughout the United States, Canada and Puerto Rico. The International Staffing segment provides staffing solutions to a range of customers in approximately 30 countries. The Talent Solutions segment provides contract-based professional placement, managed service programs and outplacement services.
Summary
MANPOWERGROUP INC reported a 4.3% drop in revenue for the second quarter of FY2023 compared to the same period last year. Net income experienced a sharper decrease of 46.6%, resulting in total earnings of USD 65.2 million. In response, the stock price dropped the same day.
This could be a cautionary sign for investors, as it may be an indication of potential financial headwinds in the near future. It is important for investors to monitor the company’s performance and consider all available information before making an investment decision.
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