Milwaukee-based ManpowerGroup reported third quarter net earnings of $79.6 million, or 97 cents per share, up from $51.3 million, or 62 cents per share, in the same period a year ago.
The company’s revenues for the third quarter were $5.8 billion, an increase of 16 percent from a year earlier.
Third quarter results were favorably impacted by 8 cents per diluted share, as foreign currencies were relatively stronger compared to the third quarter of 2010.
Jeffrey Joerres, ManpowerGroup chairman and chief executive officer, said, "We experienced solid growth throughout all geographies. In the third quarter, our strategic investments in differentiation, diversification and productivity contributed to our operating profit increase of 45 percent. Our core business, Manpower, continues to grow despite the tepid economic environment, while our professional and project-based resourcing business, Experis, and our solutions business are rapidly adding to profitability and enhancing ManpowerGroup’s positioning with our clients.”
Looking ahead, Joerres said, "We are anticipating the fourth quarter of 2011 diluted earnings per share to be in the range of 85 cents to 95 cents, which includes an estimated favorable currency impact of 3 cents. This is before expected reorganization charges of 15 to 20 cents per diluted share.”
