ManpowerGroup reports revenue down in Q3
Net earnings in the quarter were $123.9m compared to $130.5m a year earlier. Revenues for the third quarter were $5.0bn, a decrease of 8% from the year earlier period. Financial results in the quarter were significantly impacted by the stronger U.S. dollar relative to several foreign currencies compared to the prior year period. On a constant currency basis, revenues increased 6% and net earnings per diluted share increased 16%. Earnings per share in the quarter were negatively impacted 25 cents by changes in foreign currencies compared to the prior year.
Jonas Prising, ManpowerGroup CEO, said, "Our team executed well in the 3rd quarter, delivering good results despite an increasingly uneven global growth scenario. 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. We are anticipating the fourth quarter of 2015 diluted net earnings per share to be in the range of $1.47 to $1.55, which includes an estimated unfavorable currency impact of 15 cents.”