ManpowerGroup reports strong quarter

Milwaukee-based ManpowerGroup today reported third quarter net earnings of $130.5 million, or $1.61 per share, up from $94.7 million, or $1.18 per share, in the same period a year ago.

The global staffing company’s quarter revenues increased 4 percent to $5.4 billion.

Included in the prior year third quarter results was a restructuring charge, primarily related to office consolidations and severance costs, of $8.1 million ($6.2 million after tax or 8 cents per diluted share). There were no restructuring charges in the current year quarter. Net earnings in the third quarter were not materially impacted by changes in foreign currencies compared to the prior year period.

Jonas Prising, ManpowerGroup chief executive officer, said, “Our third quarter results were strong, with solid revenue and profit growth in the majority of our operations and brands. While the economic recovery has recently become more choppy in some markets, we are still seeing growth opportunities and I am confident we are well positioned to deliver unique value to our clients in these uncertain times.

Looking forward, Prising said, “We are anticipating the fourth quarter of 2014 diluted earnings per share to be in the range of $1.39 to $1.47, which includes an estimated unfavorable currency impact of 8 cents.”

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