ManpowerGroup earnings soar

Milwaukee-based ManpowerGroup today reported second quarter net earnings of $69.2 million, or 87 cents per share, up from $41.0 million, or 51 cents per share, in the same period a year ago.

The company’s quarterly revenues dipped 3 percent to $5.0 billion.
Included in the current quarter results is a restructuring charge, primarily related to office consolidations and severance costs, of $20.0 million ($14.4 million after tax or 18 cents per diluted share).

ManpowerGroup chairman and chief executive officer Jeffrey Joerres, said, “The second quarter results are solid evidence of our team’s strong execution of our recalibration efforts and a stabilizing global economy. We continue to make progress on improving our business mix with our ManpowerGroup Solutions, led by Recruitment Process Outsourcing, growing at 19 percent. We are anticipating the third quarter of 2013 diluted earnings per share to be in the range of $1.02 to $1.10, which includes an estimated unfavorable currency impact of 1 cent.”

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