ManpowerGroup (NYSE:MAN) Releases Earnings Results, Meets Estimates

ManpowerGroup (NYSE:MAN) announced its earnings results on Thursday. The business services provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01, FiscalAI reports. ManpowerGroup had a net margin of 0.64% and a return on equity of 7.78%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the business earned $0.83 earnings per share. ManpowerGroup’s quarterly revenue was up 4.4% on a year-over-year basis. ManpowerGroup updated its Q4 2026 guidance to 1.030-1.13 EPS.

Here are the key takeaways from ManpowerGroup’s conference call:

• Q3 revenue and profitability improved: Reported revenue was $4.8 billion, with 6% organic constant-currency growth, while adjusted EBITDA rose 14% in constant currency to $107 million and margin expanded 10 basis points to 2.2%.
• The Manpower brand remained the key growth driver, including 15% U.S. revenue growth and a ninth consecutive quarter of growth. Experis U.S. returned to growth, supported by improving IT spending and demand for AI, cloud, and data-governance projects.
• Management reaffirmed its transformation plans, including $200 million in permanent annual cost savings by 2028. Front-office restructuring is expanding from the U.S. to the U.K., while AI-enabled screening now supports approximately 70% of revenue and is intended to improve fill rates, hiring speed, and productivity.
• Q4 guidance calls for 3%–7% constant-currency revenue growth, adjusted EPS of $1.03–$1.13, and 20 basis points of year-over-year EBITDA margin expansion. Management expects strong fourth-quarter free cash flow, helped by the reversal of timing-related MSP payment effects.
• Performance remains uneven across businesses and markets: France continues to face political and economic uncertainty, permanent recruitment was softer there, and Right Management revenue declined as outplacement activity eased. The company also did not repurchase shares and indicated buybacks are unlikely in the immediate future while it prioritizes balance-sheet strengthening.

ManpowerGroup Trading Down 5.2%

Shares of MAN stock traded down $2.27 during trading hours on Friday, reaching $41.48. The company had a trading volume of 2,165,083 shares, compared to its average volume of 1,048,076. ManpowerGroup has a 1-year low of $25.15 and a 1-year high of $63.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.05 and a quick ratio of 1.04. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.73 and a beta of 0.68. The company has a 50 day moving average of $57.04 and a 200 day moving average of $43.17.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MAN. BMO Capital Markets boosted their price objective on shares of ManpowerGroup from $49.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Barclays increased their price objective on ManpowerGroup from $30.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. UBS Group decreased their price objective on ManpowerGroup from $56.00 to $48.00 and set a “neutral” rating on the stock in a research report on Friday. Truist Financial lifted their target price on ManpowerGroup from $34.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, July 17th. Finally, Robert W. Baird dropped their target price on ManpowerGroup from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, ManpowerGroup has a consensus rating of “Hold” and an average target price of $51.88.

Key Headlines Impacting ManpowerGroup

Here are the key news stories impacting ManpowerGroup this week:

• Positive Sentiment: ManpowerGroup reported third-quarter adjusted earnings of $1.01 per share, matching consensus and increasing from $0.83 a year earlier. Revenue rose 4.4% year over year to approximately $4.84 billion, while reported net earnings per diluted share increased to $0.71 from $0.38. ManpowerGroup Reports Third-Quarter 2026 Results
• Positive Sentiment: Management cited continued growth in the Manpower business, improving Experis trends—including a return to growth for U.S. Experis—and stronger results in Northern Europe. Cost actions also supported improving SG&A trends. ManpowerGroup Reports Third-Quarter 2026 Results
• Neutral Sentiment: Becky Frankiewicz, currently president and chief strategy officer, will become CEO on January 1, 2027, while Jonas Prising moves to executive chair. The transition may support the company’s artificial-intelligence strategy, but it also introduces execution uncertainty. ManpowerGroup Announces Leadership Transition
• Negative Sentiment: Third-quarter revenue of $4.84 billion came in slightly below the $4.86 billion analyst estimate. The miss was modest, but it reinforced concerns that labor-market demand remains uneven despite earnings growth. ManpowerGroup Shares Fall as Revenue Misses Forecasts
• Negative Sentiment: Fourth-quarter EPS guidance of $1.03 to $1.13 was centered near the $1.10 consensus estimate, but the outlook and projected 3%–7% constant-currency revenue growth were viewed as insufficient to offset near-term uncertainty. ManpowerGroup Fourth-Quarter Forecast
• Negative Sentiment: Analysts cut their valuations following the report: JPMorgan reduced its price target to $50 from $59 and maintained a neutral rating, while UBS lowered its target to $48 from $56. Additional forecast reductions signal weaker expectations for earnings and revenue recovery. Analysts Cut ManpowerGroup Forecasts

ManpowerGroup Company Profile

ManpowerGroup Inc is a global workforce solutions and staffing company headquartered in Milwaukee, Wisconsin. Founded in 1948, the company helps organizations recruit, manage and develop talent while assisting individuals with finding employment and advancing their careers.

ManpowerGroup provides temporary, permanent and contract staffing; recruitment process outsourcing; workforce management; career transition and outplacement services; and talent development programs. Its principal brands include Manpower, which focuses on staffing and workforce solutions; Experis, which specializes in information technology and professional talent; and Talent Solutions, which provides recruitment, career management and workforce consulting services.

The company serves employers and job seekers across a broad range of industries and geographic markets, with operations spanning numerous countries and territories worldwide.