ManpowerGroup Q2 EPS Tops Estimates; Guides Q4 EPS Below Estimates
(RTTNews) - While reporting financial results for the third quarter on Thursday, workforce solutions provider ManpowerGroup, Inc. (MAN) said it expects earnings for the fourth quarter to be in the range of $1.17 to $1.27, which includes an estimated unfavorable currency impact of $0.01.
The guidance also excludes expected restructuring costs and any Argentina related impact of non-cash currency translation losses.
On average, 11 analysts polled by Thomson Reuters expect the company to report earnings of $1.36 per share for the quarter. Analysts' estimates typically exclude special items.
For the third quarter, the company reported net earnings of $30.3 million or $0.60 per share, lower than $111.3 million or $2.13 per share in the prior-year quarter. Excluding restructuring costs, adjusted earnings for the quarter were $1.38 per share.
Revenues for the quarter declined 2.6 percent to $4.68 billion from $4.80 billion in the same quarter last year. Revenues were down 5.4 percent in constant currency.
The Street was looking for earnings of $1.35 per share on revenues $4.70 billion of for the quarter.
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