ManpowerGroup reports lower profit on strong dollar

ManpowerGroup headquarters
ManpowerGroup's global headquarters in downtown Milwaukee.

Milwaukee-based ManpowerGroup Inc. today reported third quarter net income of $123.9 million, or $1.61 per share, down from $130.5 million, or $1.61 per share, in the third quarter of 2014.

ManpowerGroup headquarters
ManpowerGroup’s global headquarters in downtown Milwaukee.

The global workforce solutions company reported operating income of $206.3 million, down from $212.3 million in the same period a year ago.

ManpowerGroup’s quarterly revenue totaled $5 billion, down 8 percent from $5.4 billion in the third quarter of 2014.

The company attributed the decline to the strong U.S. dollar, which reduced earnings by about 25 cents per share in the quarter.

“Our team executed well in the third quarter, delivering good results despite an increasingly uneven global growth scenario,” said Jonas Prising, chief executive officer of ManpowerGroup. “In this environment of volatile economic growth, our clients are seeking to build more agile, flexible organizations to better adapt to any market changes affecting demand for their products and services, and this is where our global workforce solutions can play an important role.”

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Molly Dill, former BizTimes Milwaukee managing editor.

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