, /PRNewswire/ -- ManpowerGroup (NYSE: MAN) today announced that Jack McGinnis, Chief Financial Officer, and Becky Frankiewicz, President and Chief Strategy Officer, will participate in a fireside chat at the J.P. Morgan Ultimate Services Investor Conference in New York City on Tuesday, November 17, 2026, from 1:20 PM – 1:50 PM EST.
ManpowerGroup will provide a live webcast of the fireside chat through the Investors section of its website at manpowergroup.com/investors. A replay of the webcast will be available following the event.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn, Facebook, and Bluesky.
ManpowerGroup to Participate in J.P. Morgan Ultimate Services Investor ConferencePR NewswireMILWAUKEE, Oct. 21, 2026MILWAUKEE, Oct. 21, 2026 /PRNewswire/ -- Man
Key Takeaways ManpowerGroup shares fell 20% after Q3 revenues missed estimates by 1.4% despite 22% earnings growth.Americas revenues surged 13%, while Northern Europe grew 5%, driven by stronger regional labor demand.ManpowerGroup targets $200M in annual cost savings by 2028 and projects Q4 revenue growth of 3%-7%. ManpowerGroup (MAN - Free Report) reported mixed third-quarter 2026 results, with adjusted earnings meeting the Zacks Consensus Estimate and revenues missing expectations.
Although earnings matched estimates, the top-line miss disappointed investors, triggering a 20% dip in MAN shares after the results were released on Oct. 15.
MAN's adjusted earnings of $1.01 per share were in line with the consensus estimate and increased 22% year over year. Revenues of $4.84 billion lagged the consensus estimate of $4.91 billion by 1.4% but increased 4% year over year (5% in constant currency).
Growth was supported by improving labor demand, with Manpower brand revenues increasing 7% organically in constant currency.
MAN Benefits From Improving Regional DemandRevenues from the Americas increased 13% year over year to $1.2 billion, reflecting continued momentum in the United States and other regional markets. On a constant-currency basis, revenues increased 12%, while organic constant-currency revenues advanced 14%.
The United States registered revenue growth of 6% on both reported and constant-currency bases, with organic constant-currency growth reaching 9%. Canada posted 2% reported revenue growth, while Other Americas revenues increased 33%, reflecting broader regional strength.
Southern Europe, accounting for 46% of consolidated revenues, generated $2.2 billion, up 1% year over year and 2% in constant currency. France reported a 3% revenue decline, partially offset by growth of 4% in Italy and 7% in Spain.
ManpowerGroup Sees Growth Across European MarketsNorthern Europe revenues rose 5% year over year to $861 million, increasing 6% in constant currency. Germany delivered strong revenue growth of 20%, while the United Kingdom registered a 7% increase.
However, revenues declined 4% in both the Netherlands and Belgium. The Nordics posted modest reported growth of 2%, with revenues remaining flat in constant currency.
Asia-Pacific Middle East revenues decreased 1% year over year to $515 million but increased 4% in constant currency. Japan and India each recorded a 6% decline in reported revenues, primarily reflecting currency movements, while constant-currency revenues increased 1% and 3%, respectively.
MAN Shows Improving Brand MomentumThe Manpower brand continued to drive growth, with reported revenues increasing 6% year over year. Organic constant-currency revenues advanced 7%, following 8% growth in the preceding quarter.
Experis revenues declined 3% on a reported basis but remained flat organically in constant currency, improving from a 2% decrease in the second quarter. Management highlighted the return to growth for Experis in the United States as an important milestone.
Talent Solutions recorded 1% revenue growth on both reported and organic constant-currency bases. Growth in recruitment process outsourcing and managed service provider activities was partially offset by weaker Right Management performance due to lower outplacement activity.
ManpowerGroup Improves Profitability Through Cost CutsGross margin contracted 70 basis points year over year to 15.9%, reflecting changes in staffing mix, permanent recruitment and career transition activities. Total gross profit was $767 million.
Selling, general and administrative expenses declined to $685 million from $702.3 million a year earlier. Excluding restructuring and transformation charges, adjusted expenses were $666.9 million, representing 13.8% of revenues compared with 15.2% in the prior-year quarter.
Reported operating profit was $82 million, with an operating margin of 1.7%. Adjusted operating profit reached $100 million, highlighting a 2.1% margin.
The company's global transformation program expanded to the United Kingdom during the quarter. Management remains on track to deliver $200 million in annual cost savings by 2028.
MAN's Balance Sheet and Cash Flow PositionManpowerGroup ended the third quarter with total debt of $1.1 billion and net debt of $870 million. The total debt-to-capitalization ratio stood at 34% compared with 33% at the end of the preceding quarter.
Free cash flow represented an outflow of $17 million compared with an inflow of $45 million in the year-ago quarter. Management attributed the negative performance partly to the timing of managed service provider payments. Excluding these items, free cash flow would have represented an inflow of $75 million.
Capital expenditures totaled $9 million compared with $15 million a year earlier.
ManpowerGroup Provides Q4’26 OutlookManagement expects fourth-quarter 2026 adjusted earnings per share between $1.03 and $1.13, excluding restructuring and transformation costs. The midpoint ($1.08) of the guided range stands lower than the Zacks Consensus Estimate of $1.1. The outlook assumes an effective tax rate of 44% and no currency impact on earnings.
Revenues are projected to increase 3%-7% year over year, or 4%-8% organically in constant currency. Gross margin is expected between 15.8% and 16%, while adjusted EBITA margin is projected at 2.2%-2.4%.
Regionally, Americas revenues are expected to grow 7%-11%, Southern Europe revenues are projected to remain flat or increase 4%, and Northern Europe revenues are anticipated to rise 8%-12%. Asia-Pacific and Middle East revenues are expected to increase 1%-5%.
MAN currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ACN's earnings of $3.29 per share beat the Zacks Consensus Estimate of $3.19 by 3.1%. Earnings rose 9% from adjusted earnings of $3.03 in the year-ago quarter.
Revenues of $18.7 billion topped the consensus mark of $18.01 billion by 3.8% and increased 6% year over year in U.S. dollars.
FactSet Research Systems Inc. (FDS - Free Report) reported impressive results for fourth-quarter fiscal 2026.
FDS’s adjusted earnings were $4.52 per share, beating the Zacks Consensus Estimate of $4.32 by 4.6%. The figure jumped 11.6% from the year-ago quarter.
Revenues of $634.7 million topped the consensus mark of $628.2 million by 1% and rose 6.3% year over year.
Recognition reflects Right Management's expertise in helping organizations navigate workforce transformation through career transition, leadership development, and coaching
, /PRNewswire/ -- Talent Solutions Right Management, part of the ManpowerGroup family of brands, has been recognized on the Forbes list of America's Best Management Consulting Firms 2026. This distinguished honor is presented by Forbes and Statista.
The America's Best Management Consulting Firms list highlights leading consultancies across the United States, based on comprehensive data from both expert and client evaluations.
Talent Solutions Right Management has been recognized on the Forbes list of America’s Best Management Consulting Firms 2026. The recognition reinforces Right Management's position as a trusted workforce transformation partner. Through career transition, leadership development, coaching, talent management, and internal mobility solutions, Right Management helps organizations navigate change, strengthen workforce resilience, and create opportunities for their people to succeed.
"Workforce transformation requires organizations to balance business priorities with the needs and potential of their people," said Patrick McCue, Americas Sales and Client Experience Leader at Right Management. "This recognition reflects the expertise and commitment our teams bring to helping clients navigate that challenge. It strengthens our resolve to deliver career transition, leadership development and coaching solutions that help organizations and individuals prepare for what comes next."
America's Best Management Consulting Firms 2026 was developed using a two-part methodology:
Expert Survey: More than 10,000 partners and executives were invited to recommend consulting firms across 16 client sectors and 17 functional areas. Client Survey: Over 1,250 clients were asked to assess management consultancies they have engaged with over the past four years. Respondents identified the industries and functional areas of collaboration, then reviewed a shortlist for each category built from prior-year results and new expert recommendations. Self-nominations were not permitted. The recognition reflects the trust business and people leaders place in Right Management and the impact their experts and coaches help create. As workforce transformation continues to reshape organizations, Right Management remains committed to helping organizations build stronger leaders, support career mobility, manage workforce transitions, and prepare their talent strategies for the future.
To learn more about Right Management's workforce transformation, career transition, leadership development, and coaching solutions, visit Right.com.
ABOUT TALENT SOLUTIONS RIGHT MANAGMENT
Talent Solutions combines our leading global offerings — RPO, TAPFIN-MSP and Right Management — to help organizations address their complex workforce needs. Talent Solutions leverages our deep industry expertise and understanding of what talent wants to provide end-to-end, data-driven capabilities across the talent lifecycle. From talent attraction and acquisition to upskilling, development and retention, we provide seamless delivery, leveraging best-in-class technology and extensive workforce insights across multiple countries at scale. Right Management, part of the ManpowerGroup® family of brands—including Manpower and Experis—is our global talent management offering for outplacement, career management, and leader development solutions.
For more information, visit Right.com, or follow us on LinkedIn, X, and Facebook.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn, Facebook, and Bluesky.
On its third quarter of 2026 earnings call, held on Oct. 15, 2026, ManpowerGroup (MAN -5.14%) announced leadership changes alongside a return to revenue growth across major business units. For long-term investors, leadership stability and execution on structural cost cuts determine whether expanding operating leverage converts into durable returns. Selling, general, and administrative expenses, or SG&A, dropped 2% on a constant currency basis as operating margins ticked higher year over year. Three things management said on the earnings call stand out.
1. Becky Frankiewicz Takes the CEO Helm in 2027Leadership transitions test strategy continuity, but this internal promotion reflects long-planned succession. Frankiewicz will step into the chief executive role after guiding North American operations and global strategy.
I am delighted to share that as part of the board's long term succession planning, Becky Frankiewicz will become our next chief executive officer.
-- Jonas Prising, Chair and Chief Executive Officer2. Cost Reduction Plan Targets $200 Million in SavingsStructural efficiency matters more than cyclical hiring tailwinds for margin preservation. Management is executing front-office redesigns in the U.S. and U.K. to permanently lower the company's cost to serve.
And alongside that commercial momentum, we are making meaningful progress on our transformation agenda, and remain confident in our commitment to deliver $200 million in permanent cost savings in 2028.
-- Jonas Prising, Chair and Chief Executive OfficerCommercial staffing leads the operational recovery as enterprise client demand expands. The flagship staffing brand delivered double-digit revenue growth in the U.S. by capturing new client accounts.
In the U.S., Manpower gained market share through new logos and expansion of wallet within existing clients, delivering our 9th consecutive quarter of growth with double-digit revenue growth and improved profitability.
-- Becky Frankiewicz, President and Chief Strategy OfficerLooking AheadRevenue growth is broadening across European and technology markets while artificial intelligence automation accelerates recruitment screening across 70% of global revenue. Commercial momentum and pricing discipline provide operational leverage as client demand stabilizes.
Across all 3 brands, we are increasingly using AI, to improve internal efficiency, and to create differentiated value for clients and candidates while unlocking new growth opportunities.
-- Becky Frankiewicz, President and Chief Strategy OfficerOperational leverage continues building into the fourth quarter as lower structural costs compound with stabilizing staffing demand.
We believe that the inflection point we predicted is evident in our performance.
-- Jonas Prising, Chair and Chief Executive OfficerThe Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
ManpowerGroup NYSE: MAN triggered a 16% decline in its stock price when it released Q3 results, creating a solid entry point for long-term investors.
ManpowerGroup Today
MAN
ManpowerGroup
$41.48 -2.27 (-5.18%)
As of 10/16/2026 03:59 PM Eastern
This is a fair market value price provided by Massive. Learn more.
$25.15▼
$63.883.47%
16.39
$51.88
The company is in the midst of turnaround efforts, revealed core strengths, and the “bad” news wasn’t exactly unexpected, merely poorly timed. Among the factors that impaired price action was the surprise revelation that a longtime insider and current Chief Strategy Officer would take over as CEO.
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The board has indicated the transition as a natural course of business, and Becky Frankiewicz is the logical choice to lead the next business phase. The news was poorly timed because it came alongside visible impacts of turnaround efforts, i.e., rising costs and a significant variance between GAAP and adjusted earnings. The critical detail is that the company is positioning itself for sustainable growth and wider margins, and will begin to see the positive impacts of cost-cutting, efficiency improvements, and higher-margin revenue streams next year.
ManpowerGroup Has a Capital Return Catalyst Waiting to Be UnleashedManpowerGroup is a cash flow machine, capable of sustaining a solid dividend and aggressive share buybacks. Although buybacks are effectively paused during the company's financial turnaround, they will likely resume at the prior pace within the next year or so. Historically, the count has declined by 3.5% to 4.5% annually, providing significant leverage for share prices and earnings growth.
The dividend offers a reason to buy. Cut in 2025 alongside the buyback, the payout yields 3.5% with shares near long-term lows and is on track for robust increases. The caveat is that dividend increases will be tied to margin improvements expected in the coming year, leaving the market in limbo as it waits for better news.
ManpowerGroup Grows in Q3, Margins WidenManpowerGroup didn’t have a bad Q3, just one with headwinds and uncertainty. Revenue rose to $4.8 billion, up 4.4% year over year (YOY), but fell short of consensus by a slim margin. Growth was supported by expansion across all segments, with 6% systemwide organic growth, currency-neutral.
Currency is a factor in the margin details, but not the only headwind, as restructuring costs also play a role. The key is that spotty weaknesses are improving, are offset by strengths, and systemwide results show progress. While gross margin contracted by 20 basis points, SG&A improved, leaving operating income up by 23.7%, GAAP net income up by 89%, and adjusted earnings per share at $1.01, up 24% YOY and as expected despite the top-line miss. The bad news is that earnings per share (EPS) fell short of expectations, fueling investor anxiety.
Q4 guidance is a headwind for price action, with the EPS forecast below consensus, but the same caveats apply: the company is investing in its future and positioning for better performance next year. The question isn’t so much about what the company is spending today as about the long-term impact on operations. Execs target $200 million in operational savings by 2028, bolstering the outlook for improved capital returns over the next two to three years.
Manpower’s Major Catalyst? Improved Hiring TrendsBusiness improvements are good despite hiring trends being as tepid as they are. Labor market data doesn’t reflect a downturn, but employers aren’t hiring robustly, merely holding on to the employees they have while they wait out rising oil prices, inflation, and interest rates. The International Monetary Fund estimates a broad-based acceleration in employment in mid-to-late 2027, driven by non-tech, cyclical industries and the effects of this year’s balance sheet strengthening.
Analyst trends reflect a cautious stance, with only nine analysts tracked and the consensus rating at Hold. However, no Sell ratings are logged.
Institutions reflect a high degree of confidence, owning more than 98% of the shares and buying in late 2026. They underpin the stock price bottom seen in the charts and are likely to buy the dip in Q4, given the deep discount and potential for turnaround efforts to gain traction in upcoming quarters.
This year’s catalysts include platform upgrades, technological advancements, and shifts toward higher-margin business. The company is integrating AI and agentic tools into its platform, while also focusing on more specialized talent. Experis connects employers with in-demand IT employees while Talent Solutions provides end-to-end, data-driven strategies across the employee cycle.
What the market gets wrong today is thinking economic headwinds and staffing headwinds will last forever. In this scenario, the market is pricing the stock as if there is no recovery ahead, pushing it to 19x earnings, a 50% discount to cyclical highs.
Should You Invest $1,000 in ManpowerGroup Right Now?Before you consider ManpowerGroup, you'll want to hear this.
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ManpowerGroup Inc. (MAN) Q3 2026 Earnings Call October 15, 2026 8:30 AM EDT
Company Participants
Jonas Prising - Chairman & CEO
John McGinnis - Executive VP, CFO & Head of Investor Relations
Becky Frankiewicz - President & Chief Strategy Officer
Conference Call Participants
Andrew Steinerman - JPMorgan Chase & Co, Research Division
Mark Marcon - Robert W. Baird & Co. Incorporated, Research Division
Andrew Grobler - BNP Paribas, Research Division
Kartik Mehta - Northcoast Research Partners, LLC
Trevor Romeo
John Ronan Kennedy - Barclays Bank PLC, Research Division
Joshua Chan - UBS Investment Bank, Research Division
Tobey Sommer - Truist Securities, Inc., Research Division
Presentation
Operator
Welcome to ManpowerGroup's Third Quarter Earnings Results Conference Call. [Operator Instructions] This call is being recorded. If you care to drop off now, please do so.
I would now like to turn the call over to ManpowerGroup's Chair and CEO, Mr. Jonas Prising.
Jonas Prising
Chairman & CEO
Good morning, everyone, and thank you for joining us for our third quarter 2026 conference call. Our Chief Financial Officer, Jack McGinnis; and our President and Chief Strategy Officer, Becky Frankiewicz, are both with me today.
For your convenience, our prepared remarks are available on the Investor Relations section of our website at manpowergroup.com.
I'll begin with the leadership news we announced this morning, followed by a brief overview of the quarter. Becky will then discuss our results in more detail, provide an update on our transformation and highlight the opportunities we are capturing with AI.
Jack will then walk through the detailed financial results and our guidance for the fourth quarter of 2026. I'll close with a few comments before we open the line for Q&A.
Turning to Jack, who will cover the safe harbor language.
John McGinnis
Executive VP, CFO & Head of Investor Relations
Good morning, everyone. This conference call includes forward-looking
ManpowerGroup (MAN - Free Report) reported $4.84 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 4.4%. EPS of $1.01 for the same period compares to $0.83 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.91 billion, representing a surprise of -1.38%. The company has not delivered EPS surprise, with the consensus EPS estimate being $1.01.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Manpower performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues from Services- Americas: $1.25 billion versus $1.21 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +13.5% change.Revenues from Services- APME: $514.9 million versus the three-analyst average estimate of $521.79 million. The reported number represents a year-over-year change of -1.1%.Revenues from Services- Southern Europe: $2.23 billion versus the three-analyst average estimate of $2.27 billion. The reported number represents a year-over-year change of +1%.Revenues from Services- Northern Europe: $860.6 million versus the three-analyst average estimate of $876.01 million. The reported number represents a year-over-year change of +5.4%.Revenues from Services- Southern Europe- Other Southern Europe: $611.9 million versus the two-analyst average estimate of $614.43 million. The reported number represents a year-over-year change of +7.5%.Revenues from Services- Southern Europe- France: $1.13 billion versus the two-analyst average estimate of $1.18 billion. The reported number represents a year-over-year change of -3.5%.Revenues from Services- Americas- United States: $728.8 million compared to the $723.53 million average estimate based on two analysts. The reported number represents a change of +5.5% year over year.Revenues from Services- Americas- Other Americas: $517.9 million versus the two-analyst average estimate of $488.69 million. The reported number represents a year-over-year change of +27%.Revenues from Services- Southern Europe- Italy: $483.1 million compared to the $489.86 million average estimate based on two analysts. The reported number represents a change of +4.5% year over year.Revenues from Services- Intercompany Eliminations: $-10.1 million versus $-5.78 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +42.3% change.Operating Unit Profit- Corporate expenses: $-54.1 million versus $-46.19 million estimated by two analysts on average.View all Key Company Metrics for Manpower here>>>
Shares of Manpower have returned -10.3% over the past month versus the Zacks S&P 500 composite's +1.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
MarketBeat Week in Review – 06/29 - 07/03ManpowerGroup NYSE: MAN reported third-quarter 2026 revenue growth, margin expansion and improving trends in its Experis and Talent Solutions businesses, while also announcing that President and Chief Strategy Officer Becky Frankiewicz will become chief executive officer effective Jan. 1, 2027.
Frankiewicz will join the company’s board when she assumes the CEO role. Current Chair and CEO Jonas Prising will transition to Executive Chair. Prising said the leadership change was part of the board’s long-term succession planning and reflects the company’s focus on developing leadership internally.
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Manchester United’s Stock Rally Faces a Test Beyond Old Trafford“Becky knows our business inside and out,” Prising said, citing her leadership of the North American region as well as her oversight of global strategy and commercial performance. Frankiewicz said she is committed to the company’s transformation strategy and its stated cost-savings and margin-improvement objectives.
Third-Quarter Results ManpowerGroup reported revenue of $4.8 billion for the third quarter, while system-wide revenue, including franchise operations, was $5.3 billion. Organic, days-adjusted revenue increased 6% in constant currency, while reported constant-currency revenue growth was 5%.
High-Yielding ManpowerGroup Inc. Goes On SaleAdjusted EBITDA totaled $107 million, up 14% year over year in constant currency. Adjusted EBITDA margin was 2.2%, expanding 10 basis points from a year earlier. Adjusted earnings per share were $1.01, at the midpoint of the company’s guidance range, while reported EPS was $0.71.
Gross margin was 15.9%. Chief Financial Officer Jack McGinnis said staffing margin was stable sequentially, although gross margin reflected a 50-basis-point year-over-year reduction in staffing margin due to mix changes. Softer permanent recruitment activity in France and certain other markets reduced gross margin by 10 basis points, while lower outplacement activity at Right Management accounted for another 10-basis-point reduction.
Adjusted SG&A expense declined 2% in constant currency, as the company continued to manage operating costs and implement its transformation programs. Reported SG&A was $685 million, including restructuring and strategic transformation costs of $16 million and a $2 million charge tied to the U.S. Jefferson Wells disposition.
Brand Performance and Regional Trends The company’s Manpower brand generated 7% organic constant-currency revenue growth, compared with 8% growth in the preceding quarter. Experis revenue was flat, improving from a 2% decline in the second quarter, while Talent Solutions revenue increased 1%, compared with flat revenue previously.
Manpower: The business continued to benefit from commercial staffing demand, and professional staffing returned to growth during the quarter. In the U.S., Manpower revenue rose 15% on a days-adjusted basis, marking its ninth consecutive quarter of growth. The company cited new client wins, expansion with existing clients, demand in food manufacturing and logistics, and opportunities related to automation and reshoring. Experis: The technology talent and services business showed improving global trends, including 4% revenue growth for Experis in the U.S. The company cited activity in financial services, healthcare and energy, where clients are investing in data governance, AI implementation and cloud optimization. Talent Solutions: Revenue improved from the second quarter, led by continued growth in managed service provider offerings and an improvement in recruitment process outsourcing, which returned to slight growth. Right Management declined as outplacement activity slowed. In the Americas, revenue rose 14% in constant currency to $1.2 billion. U.S. revenue increased 9% on an organic, days-adjusted basis to $729 million. Southern Europe revenue grew 2% in constant currency to $2.2 billion, with Italy up 5% while France declined 2%.
Management said France experienced volatility during the quarter but saw improving trends in September and early October. McGinnis pointed to French manufacturing purchasing managers’ index trends, saying July represented the weakest point of the quarter before improvement in August and September. The company expects a modestly better year-over-year revenue trend in France during the fourth quarter.
Northern Europe revenue grew 6% in constant currency to $861 million, supported by 7% growth in the United Kingdom and what management described as very significant growth in Germany. Asia Pacific Middle East revenue rose 4% to $515 million, including 3% growth in Japan.
Transformation and AI Initiatives Management reiterated its goal of delivering $200 million in permanent annual cost savings by 2028. The company has been redesigning sales and recruitment processes in the U.S. and is expanding that front-office program to the United Kingdom, with plans to scale it more broadly.
Frankiewicz said the transformation is intended to lower the company’s cost to serve, improve productivity and give teams more capacity to pursue growth. In response to an analyst question, she said she was “fully committed” to the company’s previously outlined 110-basis-point margin-improvement objective.
The company also continued to expand AI-enabled talent-screening capabilities, which it said now reach 70% of revenue after extensions in Italy and the U.S. during the quarter. Management said these tools are helping improve fill rates, accelerate hiring and enhance the candidate experience.
Frankiewicz said partnerships with organizations including SoundHound AI, IBM watsonx Orchestrate, AWS, SAP and Microsoft are beginning to produce commercial benefits, including greater share of client spending and deeper involvement in client transformation programs.
Fourth-Quarter Outlook For the fourth quarter, ManpowerGroup forecast constant-currency revenue growth of 3% to 7%, or 5% at the midpoint. On an organic, days-adjusted constant-currency basis, the midpoint implies 4% growth after accounting for business days and dispositions.
The company expects gross margin of 15.9% at the midpoint and projects adjusted EBITDA margin expansion of 20 basis points year over year, an improvement from the 10-basis-point expansion recorded through the first nine months of 2026. Fourth-quarter EPS is forecast at $1.03 to $1.13, excluding restructuring and global strategic transformation costs.
Free cash flow was an outflow of $17 million in the third quarter, compared with a $45 million inflow a year earlier, primarily because of the timing of managed service provider payments. Excluding those quarter-end items, free cash flow would have been a $75 million inflow, McGinnis said. The company expects very strong free cash flow in the fourth quarter.
At quarter-end, ManpowerGroup had $233 million in cash, $1.1 billion in total debt and net debt of $870 million. The company did not repurchase shares during the quarter and said its immediate priority remains strengthening the balance sheet before resuming repurchases.
About ManpowerGroup (NYSE:MAN)ManpowerGroup Inc is a global workforce solutions and staffing company headquartered in Milwaukee, Wisconsin. Founded in 1948, the company helps organizations recruit, manage and develop talent while assisting individuals with finding employment and advancing their careers.
ManpowerGroup provides temporary, permanent and contract staffing; recruitment process outsourcing; workforce management; career transition and outplacement services; and talent development programs. Its principal brands include Manpower, which focuses on staffing and workforce solutions; Experis, which specializes in information technology and professional talent; and Talent Solutions, which provides recruitment, career management and workforce consulting services.
The company serves employers and job seekers across a broad range of industries and geographic markets, with operations spanning numerous countries and territories worldwide.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in ManpowerGroup Right Now?Before you consider ManpowerGroup, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ManpowerGroup wasn't on the list.
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Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
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ManpowerGroup (MAN - Free Report) came out with quarterly earnings of $1.01 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.83 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this staffing company would post earnings of $0.96 per share when it actually produced earnings of $0.99, delivering a surprise of +3.13%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Manpower, which belongs to the Zacks Staffing Firms industry, posted revenues of $4.84 billion for the quarter ended September 2026, missing the Zacks Consensus Estimate by 1.38%. This compares to year-ago revenues of $4.63 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Manpower shares have added about 74.8% since the beginning of the year versus the S&P 500's gain of 12.8%.
What's Next for Manpower?While Manpower has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Manpower was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.10 on $4.99 billion in revenues for the coming quarter and $3.62 on $19.28 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Staffing Firms is currently in the bottom 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Insperity, Inc. (NSP - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on October 29.
This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +200%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Insperity, Inc.'s revenues are expected to be $1.63 billion, up 0.6% from the year-ago quarter.
Becky Frankiewicz to Become Chief Executive Officer
Jonas Prising to Transition to Executive Chair
Appointments to Take Effect January 1, 2027
, /PRNewswire/ -- ManpowerGroup (NYSE: MAN) today announced that its Board of Directors has elected Becky Frankiewicz Chief Executive Officer, effective January 1, 2027. Frankiewicz, who currently serves as President and Chief Strategy Officer, will also join ManpowerGroup's Board of Directors. She will become the fifth CEO in the company's almost 80-year history, succeeding Jonas Prising, who will transition to Executive Chair of the Board after serving as CEO since 2014. This transition reflects the Board's long-term succession planning, underscoring ManpowerGroup's commitment to leadership continuity and the strength of its executive team.
Becky Frankiewicz (left) and Jonas Prising Since becoming President and Chief Strategy Officer, Frankiewicz has led ManpowerGroup's commercial strategy, driving the integration of AI and agentic AI across the organization and positioning the company and its global brands – Manpower, Experis, and Talent Solutions – for the next era of growth, innovation and transformation.
Julie Howard, Lead Director of ManpowerGroup's Board of Directors, stated, "On behalf of the Board, I would like to extend our gratitude to Jonas for his inspirational leadership and impactful stewardship of ManpowerGroup. Under his direction, the company has strengthened its brands, expanded higher-value talent and workforce management capabilities, and built a business that is more digital, diversified, and resilient. Following an extensive succession planning process, we are very pleased to endorse Becky as the next CEO for ManpowerGroup."
"Leading ManpowerGroup over the past twelve years has been a great honor," said Prising, "Becky and I have worked closely together on ManpowerGroup's ongoing transformation, and I've seen firsthand the exceptional leadership, strategic perspective and deep commitment she brings to the Company. I have every confidence in Becky as she leads ManpowerGroup into its next chapter. I look forward to working closely with her to ensure a seamless transition, and supporting her and the team in my new role as Executive Chair."
"I appreciate the confidence the Board and Jonas have placed in me, and the partnership Jonas and I have built," Frankiewicz said. "ManpowerGroup's strong legacy and clear purpose - grounded in our belief that meaningful and sustainable employment can change lives - are what first drew me to the company and remains the foundation for what comes next. As we enter our next chapter, we have a significant opportunity to accelerate our strategy, expand our AI capabilities, and deliver greater value through our 'Human First, Digital Always' approach. Together with our teams around the world, I look forward to helping clients and talent navigate the next frontier of the transformation of work."
About Becky Frankiewicz
Frankiewicz has served as President and Chief Strategy Officer of ManpowerGroup, a global leader in workforce solutions, since her elevation from Chief Commercial Officer and President of ManpowerGroup North America in June 2025. In this role, she shaped the company's long-term strategy and drives the enterprise-wide integration of AI across its brands: Manpower, Experis, and Talent Solutions.
Frankiewicz joined ManpowerGroup in July 2017 as President of North America, bringing deep P&L expertise from leading large, complex global businesses. Prior to ManpowerGroup, Frankiewicz led Quaker Foods North America, one of PepsiCo's largest subsidiaries.
Frankiewicz began her career in strategic consulting with Deloitte and Andersen Consulting and started her professional journey at Procter & Gamble. She has served on the Board of Directors of Energizer Holdings, Inc. since January 2020.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn and Facebook.
Revenues of $4.8 billion (+4% as reported, +5% constant currency, +6% organic constant currency)
Continued top-line growth driven by strength in Manpower, particularly in the United States
Improving global Experis trends with U.S. Experis crossing over to growth during the quarter
Strong year-over-year revenue growth and Operating Unit Profit improvement in Northern Europe
SG&A improved trend reflects continued cost actions
Becky Frankiewicz will become CEO January 1, 2027, with Jonas Prising transitioning to Executive Chair. More details in a separate press release issued this morning
, /PRNewswire/ -- ManpowerGroup (NYSE: MAN) today reported net earnings of $0.71 per diluted share for the three months ended September 30, 2026 compared to net earnings of $0.38 per diluted share in the prior year period. Net earnings in the quarter were $34.1 million compared to net earnings of $18.0 million a year earlier. Revenues for the third quarter were $4.8 billion, a 4% increase from the prior year period.
The current year quarter included restructuring costs, strategic transformation program costs, a business sale adjustment, and Argentina hyperinflationary related non-cash currency translation losses, which negatively impacted earnings per share by $0.30 in the third quarter. Excluding these items, earnings per share was $1.01 per diluted share in the quarter representing an increase of 24% in constant currency in the third quarter of 2026.1
Financial results in the quarter were also impacted by the U.S. dollar relative to foreign currencies compared to the prior year period. On a constant currency basis, revenues increased 5% compared to the prior year period.
Jonas Prising, ManpowerGroup Chair & CEO, said, "We delivered another quarter of consistent performance and strong execution as momentum continues across the organization. Our Manpower brand continues to lead the way, with notable share gains in the U.S. Our Experis and Talent Solutions brands experienced sequential revenue trend improvement which is encouraging. Our performance to date reinforces our confidence that 2026 is an inflection point for the business. At the same time, we continue to advance our transformation, expanding implementation beyond the U.S. and driving growth across our brands and regions while remaining on track to deliver on our cost savings target. Looking ahead, the combination of improving demand, strong execution, and continued progress on our transformation positions ManpowerGroup to drive sustainable, profitable growth."
We anticipate diluted earnings per share in the fourth quarter will be between $1.03 and $1.13 and a 44% effective tax rate."
Net earnings for the nine months ended September 30, 2026 were $90.1 million, or net earnings of $1.89 per diluted share compared to net losses of $43.5 million, or net losses of $0.93 per diluted share in the prior year, respectively. The current year-to-date period included restructuring costs, strategic transformation program costs, the sale of our Jefferson Wells U.S. business, a discontinued business liquidation charge, and Argentina hyperinflationary related non-cash currency translation losses which, in aggregate, reduced earnings per share by $0.62. Excluding the net impact of these charges, earnings per share for the nine-month period was $2.51 per diluted share representing an increase of 21%2 in constant currency. Revenues for the nine-month period were $14.2 billion, representing an increase of 7% compared to the prior year or 5% in constant currency.
In conjunction with its third quarter earnings release, ManpowerGroup will broadcast its conference call live over the internet on October 15, 2026 at 7:30 a.m. Central time (8:30 a.m. Eastern time). Prepared remarks for the conference call, webcast details, presentation and recordings are included within the Investor Relations section of manpowergroup.com.
Supplemental financial information referenced in the conference call can be found at http://investor.manpowergroup.com/.
_____________________________
1 The prior year period included various adjustments which reduced earnings per share by $0.45 in the third quarter, which are also excluded when determining the year over year adjusted trend.
2 The prior year period included restructuring costs, net losses from the sale of businesses, a non-cash goodwill and intangible asset impairment charge, and Argentina hyperinflationary related non-cash currency translation losses which reduced earnings per share by $2.98 which are also excluded when determining the year over year trend.
About ManpowerGroup
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time – all confirming our position as the brand of choice for in-demand talent. For more information, visit www.manpowergroup.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, including statements regarding trends in labor demand and the future strengthening of such demand, the Company's financial outlook, and the Company's strategic initiatives and technology investments, including our ability to increase market share and the acceleration of transformation initiatives to remove structural costs from the organization to drive efficiencies, which are subject to risks and uncertainties. The Company's actual results may differ materially from those described or contemplated in the forward-looking statements due to numerous factors. These factors include those found in the Company's reports filed with the SEC, including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2025, which information is incorporated herein by reference.
We caution that any forward-looking statement reflects only our belief at the time the statement is made. The Company assumes no obligation to update or revise any forward-looking statements. We reference certain non-GAAP financial measures, which we believe provide useful information for investors. We include a reconciliation of these measures, where appropriate, to GAAP on the Investor Relations section of our website at manpowergroup.com.
ManpowerGroup
Results of Operations
(In millions, except per share data)
Three Months Ended September 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from services (a)
$
4,840.0
$
4,634.4
4.4
%
5.2
%
Cost of services
4,072.7
3,865.5
5.4
%
6.1
%
Gross profit
767.3
768.9
-0.2
%
0.4
%
Selling and administrative expenses
685.0
702.3
-2.5
%
-2.0
%
Operating profit
82.3
66.6
23.7
%
26.2
%
Interest and other expenses, net
14.3
13.7
4.8
%
Earnings before income taxes
68.0
52.9
28.5
%
31.0
%
Provision for income taxes
33.9
34.9
-2.8
%
Net earnings
$
34.1
$
18.0
89.3
%
92.9
%
Net earnings per share - basic
$
0.73
$
0.39
87.7
%
Net earnings per share - diluted
$
0.71
$
0.38
84.4
%
87.9
%
Weighted average shares - basic
46.9
46.5
0.8
%
Weighted average shares - diluted
48.1
46.9
2.7
%
(a)
Revenues from services include fees received from our franchise offices of $4.2 million and $4.3 million for the three months ended September 30, 2026 and 2025, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $481.1 million and $300.3 million for the three months ended September 30, 2026 and 2025, respectively.
ManpowerGroup
Operating Unit Results
(In millions)
Three Months Ended September 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from Services:
Americas:
United States (a)
$
728.8
$
690.8
5.5
%
5.5
%
Other Americas
517.9
407.9
27.0
%
21.7
%
1,246.7
1,098.7
13.5
%
11.5
%
Southern Europe:
France
1,132.9
1,173.5
-3.5
%
-1.9
%
Italy
483.1
462.5
4.5
%
6.2
%
Other Southern Europe
611.9
569.5
7.5
%
7.0
%
2,227.9
2,205.5
1.0
%
2.1
%
Northern Europe
860.6
816.8
5.4
%
5.9
%
APME
514.9
520.5
-1.1
%
4.3
%
4,850.1
4,641.5
Intercompany Eliminations
(10.1)
(7.1)
$
4,840.0
$
4,634.4
4.4
%
5.2
%
Operating Unit Profit (Loss):
Americas:
United States
$
24.3
$
20.6
18.2
%
18.2
%
Other Americas
23.1
17.3
33.1
%
27.9
%
47.4
37.9
25.0
%
22.6
%
Southern Europe:
France
22.4
30.6
-26.9
%
-25.3
%
Italy
27.4
26.6
3.2
%
5.1
%
Other Southern Europe
14.8
8.4
74.1
%
68.2
%
64.6
65.6
-1.7
%
-1.0
%
Northern Europe
7.5
(14.9)
N/A
N/A
APME
23.9
26.8
-10.2
%
-3.7
%
143.4
115.4
Corporate expenses
(54.1)
(40.9)
Intangible asset amortization expense
(7.0)
(7.9)
Operating profit
82.3
66.6
23.7
%
26.2
%
Interest and other expenses, net (b)
(14.3)
(13.7)
Earnings before income taxes
$
68.0
$
52.9
(a)
In the United States, revenues from services include fees received from our franchise offices of $2.4 million and $2.7 million for the three months ended September 30, 2026 and 2025, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $94.5 million and $83.5 million for the three months ended September 30, 2026 and 2025, respectively.
(b)
The components of interest and other expenses, net were:
2026
2025
Interest expense
$
28.0
$
24.0
Interest income
(7.8)
(6.9)
Foreign exchange loss
1.3
2.4
Miscellaneous income, net
(7.2)
(5.8)
$
14.3
$
13.7
ManpowerGroup
Results of Operations
(In millions, except per share data)
Nine Months Ended September 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from services (a)
$
14,210.6
$
13,244.0
7.3
%
4.7
%
Cost of services
11,940.0
11,013.1
8.4
%
5.7
%
Gross profit
2,270.6
2,230.9
1.8
%
-0.5
%
Selling and administrative expenses,
excluding impairment charges
2,048.0
2,072.7
-1.2
%
-3.4
%
Impairment charges (b)
—
88.7
N/A
N/A
Selling and administrative expenses
2,048.0
2,161.4
-5.3
%
-7.4
%
Operating profit
222.6
69.5
220.4
%
213.8
%
Interest and other expenses, net
46.8
41.7
12.4
%
Earnings before income taxes
175.8
27.8
531.5
%
525.5
%
Provision for income taxes
85.7
71.3
20.2
%
Net earnings (loss)
$
90.1
$
(43.5)
N/A
N/A
Net earnings (loss) per share - basic
$
1.93
$
(0.93)
N/A
Net earnings (loss) per share - diluted
$
1.89
$
(0.93)
N/A
N/A
Weighted average shares - basic
46.8
46.6
0.4
%
Weighted average shares - diluted
47.6
46.6
2.2
%
(a)
Revenues from services include fees received from our franchise offices of $12.5 million for both the nine months ended September 30, 2026 and 2025. These fees are primarily based on revenues generated by the franchise offices, which were $1,406.8 million and $1,147.4 million for the nine months ended September 30, 2026 and 2025, respectively.
(b)
Impairment charges for the nine months ended September 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
ManpowerGroup
Operating Unit Results
(In millions)
Nine Months Ended September 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from Services:
Americas:
United States (a)
$
2,098.0
$
2,053.7
2.2
%
2.2
%
Other Americas
1,476.6
1,161.7
27.1
%
21.7
%
3,574.6
3,215.4
11.2
%
9.2
%
Southern Europe:
France
3,379.1
3,288.5
2.8
%
-0.8
%
Italy
1,479.7
1,336.2
10.7
%
6.9
%
Other Southern Europe
1,779.1
1,564.1
13.8
%
7.7
%
6,637.9
6,188.8
7.3
%
3.0
%
Northern Europe
2,476.2
2,342.0
5.7
%
2.0
%
APME
1,544.1
1,522.2
1.4
%
5.7
%
14,232.8
13,268.4
Intercompany Eliminations
(22.2)
(24.4)
14,210.6
13,244.0
7.3
%
4.7
%
Operating Unit Profit (Loss):
Americas:
United States
$
79.2
$
51.6
53.6
%
53.6
%
Other Americas
59.2
47.9
23.4
%
18.4
%
138.4
99.5
39.1
%
36.6
%
Southern Europe:
France
67.9
83.9
-19.1
%
-20.9
%
Italy
90.2
83.0
8.6
%
5.0
%
Other Southern Europe
35.8
22.2
61.1
%
49.5
%
193.9
189.1
2.5
%
-1.3
%
Northern Europe
1.3
(42.2)
N/A
N/A
APME
69.5
73.2
-4.8
%
1.9
%
403.1
319.6
Corporate expenses
(159.5)
(137.1)
Impairment charges (b)
—
(88.7)
Intangible asset amortization expense
(21.0)
(24.3)
Operating profit
222.6
69.5
220.4
%
213.8
%
Interest and other expenses, net (c)
(46.8)
(41.7)
Earnings before income taxes
$
175.8
$
27.8
(a)
In the United States, revenues from services include fees received from our franchise offices of $7.5 million for both the nine months ended September 30, 2026 and 2025. These fees are primarily based on revenues generated by the franchise offices, which were $266.4 million and $247.5 million for the nine months ended September 30, 2026 and 2025, respectively.
(b)
Impairment charges for the nine months ended September 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
(c)
The components of interest and other expenses, net were:
2026
2025
Interest expense
$
77.5
$
72.5
Interest income
(18.7)
(22.0)
Foreign exchange loss
3.6
4.6
Miscellaneous income, net
(15.6)
(13.4)
$
46.8
$
41.7
ManpowerGroup
Consolidated Balance Sheets
(In millions)
September 30,
December 31,
2026
2025
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents
$
233.1
$
871.0
Accounts receivable, net
4,619.4
4,770.3
Prepaid expenses and other assets
204.3
149.1
Total current assets
5,056.8
5,790.4
Other assets:
Goodwill
1,481.7
1,544.6
Intangible assets, net
408.3
430.1
Operating lease right-of-use assets
345.5
392.7
Other assets
856.5
879.1
Total other assets
3,092.0
3,246.5
Property and equipment:
Land, buildings, leasehold improvements and equipment
522.8
526.9
Less: accumulated depreciation and amortization
411.7
403.7
Net property and equipment
111.1
123.2
Total assets
$
8,259.9
$
9,160.1
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
2,432.6
$
2,721.1
Employee compensation payable
232.7
232.3
Accrued payroll taxes and insurance
633.0
672.1
Accrued liabilities
461.0
457.6
Value added taxes payable
406.5
418.1
Short-term operating lease liability
99.2
107.4
Short-term borrowings and current maturities of long-term debt
540.6
625.0
Total current liabilities
4,805.6
5,233.6
Other liabilities:
Long-term debt
562.8
1,052.1
Long-term operating lease liability
259.8
304.3
Other long-term liabilities
491.1
509.8
Total other liabilities
1,313.7
1,866.2
Shareholders' equity:
ManpowerGroup shareholders' equity
Common stock
1.2
1.2
Capital in excess of par value
3,592.8
3,572.5
Retained earnings
3,788.9
3,732.3
Accumulated other comprehensive loss
(406.1)
(412.1)
Treasury stock, at cost
(4,836.4)
(4,834.3)
Total ManpowerGroup shareholders' equity
2,140.4
2,059.6
Noncontrolling interests
0.2
0.7
Total shareholders' equity
2,140.6
2,060.3
Total liabilities and shareholders' equity
$
8,259.9
$
9,160.1
ManpowerGroup
Consolidated Statements of Cash Flows
(In millions)
Nine Months Ended
September 30,
2026
2025
(Unaudited)
Cash Flows from Operating Activities:
Net earnings (Loss)
$
90.1
$
(43.5)
Adjustments to reconcile net earnings to net cash used in operating activities:
Depreciation and amortization
62.1
65.5
(Gain) Loss on sales of subsidiaries, net
(22.8)
6.2
Non-cash impairment of goodwill and other intangible assets
—
88.7
Deferred income taxes
7.1
(16.1)
Provision for credit losses
9.1
4.3
Share-based compensation
20.9
20.2
Changes in operating assets and liabilities:
Accounts receivable
36.4
(8.8)
Other assets
(74.7)
(95.4)
Accounts payable
(255.8)
(182.9)
Other liabilities
(9.4)
(121.2)
Cash used in operating activities
(137.0)
(283.0)
Cash Flows from Investing Activities:
Capital expenditures
(23.6)
(46.4)
Acquisition of businesses, net of cash acquired
—
(1.0)
Impact to cash resulting from sales of subsidiaries
87.5
(2.1)
Proceeds from the sale of property and equipment
1.4
0.8
Cash provided by (used in) investing activities
65.3
(48.7)
Cash Flows from Financing Activities:
Net change in short-term borrowings
1.5
65.7
Net proceeds from revolving debt facility
50.0
73.0
Proceeds from long-term debt
3.2
0.2
Repayments of long-term debt
(585.9)
(0.6)
Payments of contingent consideration for acquisition
Key Takeaways ManpowerGroup's growth is fueled by strong Americas & Southern Europe revenues & cost optimization efforts.MAN targets $200M in annual savings by 2028, while AI adoption is expected to boost operating efficiency.MAN maintains a 72-cent semi-annual dividend, but declining cash reserves & staffing competition pose risks.
ManpowerGroup’s (MAN - Free Report) diversified geographic presence supports revenue growth, led by the Americas and Southern Europe. Cost optimization and Artificial Intelligence (AI)-driven productivity gains should improve operating efficiency and support long-term margin expansion. Stable dividends and an improving operating outlook reinforce its commitment to shareholder returns.
The company’s first-quarter fiscal 2027 earnings are expected to increase 11.1% year over year. Its fiscal 2027 and 2028 earnings are projected to rise 9% and 10.5%, respectively. Revenues are anticipated to grow 5.8% in fiscal 2027 and fiscal 2028.
Factors That Bode Well for MAN’s SuccessRegional Diversification Supports Revenue Growth: ManpowerGroup's Americas revenues increased 14.4% year over year to $1.21 billion in the second quarter of 2026, driven by 29% growth in Other Americas, while U.S. revenues rose 6% to $714.3 million. Southern Europe remained the largest revenue contributor, posting 7.4% growth to $2.31 billion, supported by a 2.5% rise in France, 9.6% in Italy and 16.2% in Other Southern Europe. Northern Europe revenues grew 3.9% to $825.5 million, while Asia-Pacific Middle East revenues increased 5% in constant currency. The Americas led regional growth, while Southern Europe provided a substantial revenue base. Continued momentum across these markets should support sustained revenue expansion.
Cost Optimization & AI Adoption Support Margin Expansion: The company is combining cost discipline with technology investments to improve productivity and operating efficiency. Its transformation program targets $200 million in permanent annual savings by 2028, while AI-driven sales targeting and recruitment screening tools are each expected to cover approximately 70% of revenues by year-end 2026. Adjusted EBITA increased 15% in constant currency to $103 million in the second quarter of 2026. Management expects a third-quarter EBITA margin of 2.1-2.3%. Continued cost savings and wider AI adoption should improve operating leverage and support margin expansion over time.
Capital Returns Support Shareholder Value: ManpowerGroup continues to reward shareholders through dividends and share repurchases. Buybacks totaled $179.8 million in 2023, $140 million in 2024 and $38 million in 2025, while dividend payments were $144.3 million, $145.8 million and $66.7 million, respectively. In 2026, the company maintained its semi-annual dividend of 72 cents per share. First-half dividend payments reached $33.5 million compared with $33.3 million a year earlier, although no shares were repurchased in the second quarter. Stable dividends reinforce its commitment to shareholder returns, while an operating recovery could provide greater flexibility for future capital distributions.
Watch Out for These Risks to MAN StockIntense Competition & AI Adoption Threaten Staffing Demand: ManpowerGroup operates in a fragmented staffing market with low entry barriers, limiting pricing power and client retention. Competition from global staffing firms, specialized providers and in-house recruitment teams adds to these challenges. AI-driven automation of candidate sourcing, screening and matching could further reduce reliance on traditional staffing services. Wider AI adoption may intensify pricing pressure and constrain long-term revenue growth. Adapting its service offerings will be critical to sustaining competitiveness.
Declining Cash Reserves Constrain Financial Flexibility: ManpowerGroup's cash balance fell to $180.6 million at the end of the second quarter of 2026 from $871 million at 2025-end, largely due to $585.8 million in long-term debt repayments. First-half operating cash outflow totaled $129 million, although second-quarter free cash outflow narrowed to $9 million from $207 million a year earlier. Management expects stronger free cash flow in the second half. However, reduced liquidity limits financial flexibility amid uncertain staffing demand and working-capital needs. Sustained cash generation remains critical to rebuilding liquidity.
MAN’s Zacks Rank & Stocks to ConsiderManpowerGroup currently carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A couple of better-ranked stocks in the broader Business Services sector are The GEO Group, Inc. (GEO - Free Report) and Gen Digital Inc. (GEN - Free Report) .
The GEO Group carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 14%.
GEO beat earnings estimates in three of the trailing four quarters and matched once, delivering an earnings surprise of 24.6%, on average.
Gen Digital also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 12%.
GEN’s earnings beat estimates in each of the trailing four quarters, with the surprise being 2.3%, on average.
In its upcoming report, ManpowerGroup (MAN - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.01 per share, reflecting an increase of 21.7% compared to the same period last year. Revenues are forecasted to be $4.91 billion, representing a year-over-year increase of 5.9%.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Manpower metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Revenues from Services- Americas' should come in at $1.21 billion. The estimate suggests a change of +10.3% year over year.
The consensus estimate for 'Revenues from Services- APME' stands at $521.79 million. The estimate indicates a year-over-year change of +0.3%.
Analysts forecast 'Revenues from Services- Southern Europe' to reach $2.27 billion. The estimate points to a change of +3.1% from the year-ago quarter.
Analysts predict that the 'Revenues from Services- Northern Europe' will reach $876.01 million. The estimate indicates a change of +7.3% from the prior-year quarter.
The combined assessment of analysts suggests that 'Revenues from Services- Southern Europe- Other Southern Europe' will likely reach $614.43 million. The estimate indicates a year-over-year change of +7.9%.
Analysts expect 'Revenues from Services- Southern Europe- France' to come in at $1.18 billion. The estimate points to a change of +0.8% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenues from Services- Americas- United States' of $723.53 million. The estimate suggests a change of +4.7% year over year.
Based on the collective assessment of analysts, 'Revenues from Services- Americas- Other Americas' should arrive at $488.69 million. The estimate indicates a change of +19.8% from the prior-year quarter.
The consensus among analysts is that 'Revenues from Services- Southern Europe- Italy' will reach $489.86 million. The estimate points to a change of +5.9% from the year-ago quarter.
Analysts' assessment points toward 'Operating Unit Profit- Americas' reaching $47.47 million. The estimate is in contrast to the year-ago figure of $37.90 million.
It is projected by analysts that the 'Operating Unit Profit- APME' will reach $24.64 million. The estimate is in contrast to the year-ago figure of $26.80 million.
The average prediction of analysts places 'Operating Unit Profit- Southern Europe' at $74.46 million. Compared to the present estimate, the company reported $65.60 million in the same quarter last year.
View all Key Company Metrics for Manpower here>>>
Manpower shares have witnessed a change of -6.5% in the past month, in contrast to the Zacks S&P 500 composite's +2.4% move. With a Zacks Rank #3 (Hold), MAN is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
ManpowerGroup Inc. (NYSE:MAN – Get Free Report)’s stock price gapped down before the market opened on Thursday. The stock had previously closed at $55.58, but opened at $52.08. ManpowerGroup shares last traded at $56.4880, with a volume of 133,557 shares trading hands.
Analyst Upgrades and Downgrades Several brokerages have recently issued reports on MAN. Barclays raised their target price on shares of ManpowerGroup from $30.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Wall Street Zen upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. The Goldman Sachs Group increased their price target on shares of ManpowerGroup from $36.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Robert W. Baird raised their price target on shares of ManpowerGroup from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, BMO Capital Markets boosted their price objective on shares of ManpowerGroup from $49.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $53.50.
Check Out Our Latest Stock Analysis on MAN
ManpowerGroup Stock Down 3.8% The company has a debt-to-equity ratio of 0.27, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $2.52 billion, a PE ratio of 24.60, a PEG ratio of 2.22 and a beta of 0.68. The company has a 50 day moving average price of $57.80 and a 200-day moving average price of $41.54. ManpowerGroup (NYSE:MAN – Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The business services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.72 billion. ManpowerGroup had a return on equity of 7.45% and a net margin of 0.56%.During the same quarter last year, the firm posted ($1.44) earnings per share. ManpowerGroup has set its Q3 2026 guidance at 0.960-1.060 EPS. As a group, analysts forecast that ManpowerGroup Inc. will post 3.62 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ManpowerGroup A number of large investors have recently modified their holdings of MAN. Versant Capital Management Inc raised its stake in ManpowerGroup by 4.0% in the third quarter. Versant Capital Management Inc now owns 8,110 shares of the business services provider’s stock worth $451,000 after buying an additional 312 shares in the last quarter. Royal Bank of Canada boosted its position in ManpowerGroup by 30.5% during the 1st quarter. Royal Bank of Canada now owns 3,060 shares of the business services provider’s stock valued at $91,000 after acquiring an additional 716 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in ManpowerGroup by 12.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,102 shares of the business services provider’s stock valued at $239,000 after acquiring an additional 875 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of ManpowerGroup during the 2nd quarter worth approximately $30,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of ManpowerGroup by 320.8% during the 4th quarter. Hantz Financial Services Inc. now owns 1,376 shares of the business services provider’s stock worth $41,000 after acquiring an additional 1,049 shares during the period. Institutional investors own 98.03% of the company’s stock.
ManpowerGroup Company Profile (Get Free Report)
ManpowerGroup Inc is a global workforce solutions and staffing company headquartered in Milwaukee, Wisconsin. Founded in 1948, the company helps organizations recruit, manage and develop talent while assisting individuals with finding employment and advancing their careers.
ManpowerGroup provides temporary, permanent and contract staffing; recruitment process outsourcing; workforce management; career transition and outplacement services; and talent development programs. Its principal brands include Manpower, which focuses on staffing and workforce solutions; Experis, which specializes in information technology and professional talent; and Talent Solutions, which provides recruitment, career management and workforce consulting services.
The company serves employers and job seekers across a broad range of industries and geographic markets, with operations spanning numerous countries and territories worldwide.
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ManpowerGroup Inc. (NYSE:MAN) will release earnings for its third quarter before the opening bell on Thursday, Oct. 15.
Analysts expect the Milwaukee, Wisconsin-based company to report quarterly earnings of $1.01 per share, up from 83 cents per share in the year-ago period. The consensus estimate for MAN’s quarterly revenue is $4.85 billion. It reported $4.63 billion last year, according to Benzinga Pro.
On July 16, ManpowerGroup reported better-than-expected second-quarter financial results and issued Q3 GAAP EPS guidance above estimates.
ManpowerGroup shares rose 1.3% to close at $56.28 on Thursday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Barclays analyst Manav Patnaik maintained an Equal-Weight rating and increased the price target from $30 to $47 on July 20, 2026. This analyst has an accuracy rate of 69%. BMO Capital analyst Jeffrey Silber maintained an Outperform rating and increased the price target from $49 to $63 on July 17, 2026. This analyst has an accuracy rate of 69%. Truist Securities analyst Tobey Sommer maintained the stock with a Hold rating and boosted the price target from $34 to $50 on July 17, 2026. This analyst has an accuracy rate of 68%. UBS analyst Joshua Chan maintained a Neutral rating and raised the price target from $41 to $55 on July 17, 2026. This analyst has an accuracy rate of 52%. Baird analyst Mark Marcon maintained the stock with an Outperform rating and boosted the price target from $45 to $72 on July 17, 2026. This analyst has an accuracy rate of 72%. Considering buying MAN stock? Here’s what analysts think:
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, /PRNewswire/ -- ManpowerGroup (NYSE: MAN), the world leader in innovative workforce solutions, today announced that it plans to release 3rd quarter earnings results before the market opens on Thursday, October 15, 2026. Management will discuss the results the same day in a live webcast at 7:30 a.m. Central Time (8:30 a.m. Eastern Time), which can be accessed on the company's website.
The webcast will be available for replay at the same URL beginning at 10:30 a.m. Central Time (11:30 a.m. Eastern Time) on October 15, 2026. The replay will remain available for 30 days in this location. Supplemental financial information referenced in the webcast and the text of the 3rd quarter press release can be found on the company's website, in the sections titled "Financial Measures" and "News & Events," after 7:30 a.m. Central Time on October 15, 2026.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
New platform brings suppliers, clients, and TAPFIN together around a common picture of performance across contingent workforce programs.
, /PRNewswire/ -- TAPFIN, the managed services provider (MSP) business within Talent Solutions, part of the ManpowerGroup (NYSE: MAN) family of brands, today announced the launch of PartnerPX, a supplier intelligence platform that gives suppliers, clients, and TAPFIN a single, shared view of performance across global workforce programs. PartnerPX is available now by subscription.
PartnerPX, from Talent Solutions TAPFIN, is a supplier intelligence platform that gives suppliers, clients, and TAPFIN a single, shared view of performance across global workforce programs. PartnerPX moves supplier performance management beyond periodic, account-by-account scorecards to ongoing, program-wide insight. Through dashboards spanning demand, cycle time, hiring, quality, workforce stability, spend, and retention risk, the platform helps partners spot trends, risks, and opportunities sooner and act on them before they affect delivery.
Because suppliers, clients, and TAPFIN work from the same standardized benchmarks and shared performance measures, PartnerPX establishes a common language for performance: one platform, one view, better outcomes. That shared view supports more transparent, forward-looking conversations and continuous improvement across the supplier ecosystem.
"We're excited to launch PartnerPX, which brings a new level of analytics, insight and transparency to how we collaborate with our supplier partners," said Jessica Malachowski, Head of Global Partnerships, TAPFIN. "By complementing existing performance management with a broader, standardized data set and regularly refreshed benchmarks, participating suppliers gain a clearer view of their performance, opportunities and progress over time. That shared visibility enables more meaningful conversations, stronger collaboration and continuous improvement across our supplier ecosystem—all ultimately driving better talent outcomes for our clients."
PartnerPX is already being adopted across TAPFIN's partner network, with suppliers including Lancesoft, Rose International, and HireTalent among early subscribers.
"PartnerPX gives us something suppliers rarely get: a clear, consistent read on how we're actually performing across a global program, not just in the account we happen to be looking at," Lancesoft CEO Anju Abel said. "That visibility changes the conversation from explaining results after the fact to correcting course before it matters. It's a more mature way to run a supplier relationship."
Suppliers and workforce partners can learn more or request a live demo by contacting [email protected]. TAPFIN leaders will also be at CWS in Dallas beginning September 28 and welcome the chance to connect with partners on-site; attendees are invited to reach out to arrange a conversation.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn and Facebook.
ABOUT MANPOWERGROUP TALENT SOLUTIONS
Talent Solutions combines our leading global offerings RPO, TAPFIN-MSP and Right Management to help organizations address their complex workforce needs. Talent Solutions leverages our deep industry expertise and understanding of what talent wants to provide end-to-end, data-driven capabilities across the talent lifecycle. From talent attraction and acquisition to upskilling, development and retention, we provide seamless delivery, leveraging best-in-breed technology, and extensive workforce insights across multiple countries at scale. Talent Solutions is part of the ManpowerGroup® family of brands, which also includes Manpower and Experis.
For more information, visit www.mpgtalentsolutions.com, or follow us on LinkedIn and X.
, /PRNewswire/ -- Manpower has been named a Star Performer and Leader across three Everest Group U.S. Contingent Talent and Strategic Solutions PEAK Matrix® assessments for 2026. The Star Performer distinction is awarded to organizations demonstrating the most significant year-over-year improvements in market success and capability advancement. Together, these recognitions demonstrate market leadership, ongoing innovation and a continued commitment to delivering workforce solutions that help clients meet evolving talent needs.
Manpower has been named a Star Performer and Leader across three Everest Group U.S. Contingent Talent and Strategic Solutions PEAK Matrix® assessments for 2026. Manpower earned Leader and Star Performer designations in three assessment categories:
Industrial
Engineering
Business & Professional The assessments recognized Manpower for its specialized talent expertise, workforce solutions innovation and strategic investments in technology and managed services. Everest Group also highlighted the company's growing strengths in workforce transformation, skills development and talent delivery across high-demand sectors.
"Manpower has further strengthened its position on Everest Group's U.S. Industrial Contingent Talent and Strategic Solutions PEAK Matrix® assessment 2026, emerging as a Leader and Star Performer due to its significant market impact and capability expansion," said Priyanka Mitra, Vice President of Everest Group.
Everest Group cited continued expansion of onsite and outsourced workforce solutions, investments in AI-powered workforce intelligence and a commitment to skills development as key factors contributing to the recognition.
"Being recognized as a Star Performer across three Everest Group PEAK Matrix® assessments demonstrates the breadth of our workforce solutions portfolio," Rajesh Namboothiry, Senior Vice President of Manpower North America, said. "Organizations need a workforce that can evolve and adapt to new and unexpected challenges. This recognition reflects our ability to help organizations successfully meet those challenges with specialized talent expertise, skills development and workforce solutions designed for what's next."
Everest Group's PEAK Matrix® assessment is an annual evaluation of contingent staffing providers' market success and delivery capability. It considers factors including market adoption, value delivered, breadth of services, innovation and investments, delivery footprint and overall strategy. Based on this evaluation, providers are positioned as Leaders, Major Contenders, or Aspirants.
ABOUT MANPOWER
Manpower® is a global leader in contingent staffing and permanent resourcing, providing companies with strategic and operational flexibility and creating talent at scale. Our talent agents and specialized recruiters leverage data-driven insights to assess, guide and place people into meaningful, sustainable employment, and our PowerSuite® tech platform enables assessment and matching to predict performance potential. Our Manpower MyPath® skilling program provides rapid skills development at scale with on-the-job training, market-based certifications, and coaching for roles in growth sectors. In this constantly shifting world, our flexible workforce solutions provide companies with the business agility needed to succeed. Manpower is part of the ManpowerGroup® (NYSE: MAN) family of brands, which also includes Experis and Talent Solutions.
For more information about Manpower, visit www.manpower.com or follow us on LinkedIn.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn and Facebook.
Latest Experis Tech Talent Outlook shows the U.S. tech Net Employment Outlook falling to 37% for Q4, even as a majority plan to add staff, driven by business growth, amid strong demand for AI literacy and human skills.
, /PRNewswire/ --Tech hiring in the United States cooled but didn't stall heading into the final quarter of 2026. The U.S. Net Employment Outlook (NEO) stands at 37% for Q4, according to the latest Tech Talent Outlook from Experis, part of the ManpowerGroup family of brands.
The U.S. Net Employment Outlook (NEO) stands at 37% for Q4, according to the latest Tech Talent Outlook from Experis, part of the ManpowerGroup family of brands. The Outlook is down 10 points from both the previous quarter and the same period last year, following a notably strong period for U.S. tech hiring. Despite the moderation, more than half (53%) of U.S. tech employers plan to increase staffing levels in Q4, while 30% expect to maintain current workforce levels and 16% anticipate reductions. Among those adding staff, business growth is the most commonly cited reason. The U.S. Outlook is in line with the global tech average of 37%.
"U.S. tech hiring is moderating, but this is a market getting more deliberate, not pulling back. What stands out is that the skills employers value most are often human ones. Professionalism, critical thinking, and adaptability all rank above AI literacy," said Kye Mitchell, President, Experis U.S. "As AI adoption accelerates, those capabilities become increasingly important to putting technology to work. Employers aren't relying on one answer to the talent challenge either. They're building talent from within, expanding talent pools, and using multiple strategies to meet their needs."
Key U.S. Findings
Hiring cooled but didn't stall: The U.S. tech NEO fell 10 points quarter-over-quarter and year-over-year to 37%. Despite the decline, 53% of employers plan to increase staffing levels in Q4, while just 16% anticipate reductions. In a tech report, human skills lead: Professionalism & Work Ethic (44%), Critical Thinking & Problem-Solving (39%), Adaptability & Willingness to Learn (37%) and Communication, Collaboration & Teamwork (35%) rank among the most sought-after skills. AI literacy leads technical skills: AI Literacy is the most sought-after technical skill at 34%, followed closely by AI Modeling & App Development at 33% and Traditional IT & Data skills, excluding AI, at 29%. The findings point to continued demand for technical capabilities alongside the human skills needed to apply them effectively. Explore the complete Q4 2026 U.S. findings at: Experis Tech Talent Outlook
The next Experis Tech Talent Outlook, covering Q1 2027 hiring expectations, will be released in December 2026.
ABOUT THE EXPERIS TECH TALENT OUTLOOK
The research is based on responses from 4,258 Tech and IT Services sector employers across 42 countries included in ManpowerGroup's Employment Outlook Survey — the longest running, most comprehensive, forward-looking employment survey of its kind, used globally as a key labor market indicator. The data for the fourth quarter was collected between July 1-31, 2026.
ABOUT THE EXPERIS TECH TALENT OUTLOOK'S TECH & IT SERVICES INDUSTRY SECTOR
ManpowerGroup has introduced an updated industry sector classification to ensure our insights more closely reflect today's global economy. Historical data has been reclassified to maintain consistency over time, and national and regional results remain unchanged. The Tech & IT Services' classification is defined by the following North American Industry Classification System (NAICS) Sectors: Computer and Electronic Product Manufacturing (334); Internet Publishing and Broadcasting (516); Telecommunications (517); Data Processing, Hosting, and Related Services (518); Other Information Services (519); and Computer Systems Design and Related Services (5415).
ABOUT THE TALENT SHORTAGE SURVEY
ManpowerGroup's 2026 Talent Shortage Survey interviewed 39,063 employers across 41 countries to understand global hiring challenges and skills gaps. The fieldwork was completed in all markets between October 1 – 31, 2025.
ABOUT EXPERIS
Experis®, a global leader in technology talent and services, provides the experience and expertise to shorten the distance between innovation and business impact in a digital world. Experis is guided by the principle of Human Ingenuity: the belief that technology delivers its greatest value when paired with the right people, skills, and execution. For clients, Experis offers the right mix of talent, governance, and implementation expertise to turn AI investments into measurable results, building solutions that fit their business and enable their teams to succeed in an AI-powered future. For individuals, Experis has the insight, size, and scale to help tech professionals expand their skills, increase their value, and find the right opportunities. By matching talent to technology in transformative ways, Experis creates brighter futures for everyone. Experis is part of the ManpowerGroup® (NYSE: MAN) family of brands, which also includes Manpower and Talent Solutions.
For more information, visit www.experis.com, or follow us on LinkedIn.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn, Facebook, and Bluesky.
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements, including statements regarding labor demand in certain regions, countries and industries, and economic uncertainty. Actual events or results may differ materially from those contained in the forward-looking statements, due to risks, uncertainties and assumptions. These factors include those found in the Company's reports filed with the U.S. Securities and Exchange Commission (SEC), including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2025, whose information is incorporated herein by reference. ManpowerGroup disclaims any obligation to update any forward-looking or other statements in this release, except as required by law.
2025-2026 Sustainability Report shows how ManpowerGroup is expanding access to skills, work, and emerging opportunities while advancing climate action and responsible AI governance.
, /PRNewswire/ -- ManpowerGroup today released Working to Change the World: Human First, Digital Always, its 2025-2026 Sustainability Report, highlighting progress across its People & Prosperity, Planet, and Principles of Governance pillars. The report details how the company is expanding access to skills and work, advancing climate action, and strengthening responsible governance as AI transforms the future of work.
ManpowerGroup presents its 2025-2026 Sustainability Report "Working to Change the World: Human First, Digital Always" "Helping people find meaningful work is one of the most powerful ways we can change lives. As AI reshapes work, our focus is on making sure people have the skills, confidence and access to opportunity they need to move forward," said Ruth Harper, ManpowerGroup Chief Marketing & Sustainability Officer. "This report shows practical progress – creating talent at scale, opening pathways into emerging roles, and using technology in ways that strengthen people, not replace them."
"The world of work is being reshaped at extraordinary speed. Technology and evolving skills requirements are transforming how organizations grow and how people build their careers," ManpowerGroup Chair & CEO Jonas Prising said. "The organizations that thrive will be those that combine technology with human capability in ways that expand access to opportunity, strengthen workforce resilience, and help people create value in new ways. This year's Working to Change the World report reflects that commitment."
Highlights from the report include measurable progress across each pillar:
Working to Change the World Sustainability Report 2025-2026 Highlights
People & Prosperity
Opened pathways into emerging industries: Through SmartStart, upskilling 1 million people in the U.S. to support the growing semiconductor industry, working with partners including SEMI, Arizona State University, Maricopa County Community College District, and Junior Achievement. Expanded skills development: Scaled Manpower MyPath to more than 332,000 participants and alumni, building skills for in-demand roles. Grew technology talent: Grew Experis Academy to more than 6,000 participants across 12 European countries, building skills in SAP, AWS, and other technologies. Advanced responsible AI adoption: 81% of ManpowerGroup employees now use AI tools daily, with more than 30,000 employee engagements in AI learning. Widened access through AI: Conducted more than 25,000 AI-led interviews. Eight in 10 interviews were conducted outside traditional working hours, helping expand access and flexibility for candidates. Supported refugees: Connected more than 60,000 refugees to work globally to date, surpassing its North America goal and remaining on track toward its Europe goal. Planet
Reduced greenhouse gas emissions: Reduced total greenhouse gas emissions by 24% between 2019 and 2025, continuing progress toward 2030 science-based targets and the company's goal of reaching net zero by 2045 or sooner. Increased renewable electricity: Increased the share of renewable electricity in its energy mix to 44% of total electricity consumption. Earned global recognition: Named by TIME among the World's Most Sustainable Companies in 2025. Principles of Governance
Strengthened responsible technology governance: Evolved its Ethical AI Committee and established AIDA, the AI, Data, Analytics and Innovation governance framework, bringing cross-functional oversight to how emerging technologies are evaluated, tested and scaled responsibly. Maintained ethical leadership: Named one of the World's Most Ethical Companies by Ethisphere for the 17th time, more than any organization in the industry. Explore the report to see how ManpowerGroup is putting its "Human First, Digital Always" approach into practice and working to create a more sustainable future of work at Working to Change the World: Human First, Digital Always.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn and Facebook.
Corient Private Wealth LP grew its stake in ManpowerGroup Inc. (NYSE:MAN – Free Report) by 22.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 312,609 shares of the business services provider’s stock after buying an additional 58,248 shares during the period. Corient Private Wealth LP owned 0.67% of ManpowerGroup worth $10,557,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of ManpowerGroup in the 2nd quarter worth approximately $30,000. Elevation Wealth Partners LLC increased its position in shares of ManpowerGroup by 2,007.4% during the second quarter. Elevation Wealth Partners LLC now owns 1,138 shares of the business services provider’s stock worth $38,000 after buying an additional 1,084 shares during the period. Hantz Financial Services Inc. raised its stake in ManpowerGroup by 320.8% during the fourth quarter. Hantz Financial Services Inc. now owns 1,376 shares of the business services provider’s stock worth $41,000 after buying an additional 1,049 shares during the last quarter. Leonteq Securities AG bought a new position in ManpowerGroup during the fourth quarter worth $46,000. Finally, SJS Investment Consulting Inc. bought a new stake in ManpowerGroup during the first quarter valued at $57,000. 98.03% of the stock is currently owned by institutional investors.
ManpowerGroup Stock Down 0.9% Shares of NYSE:MAN opened at $57.90 on Thursday. The business’s 50 day moving average is $55.32 and its 200 day moving average is $39.18. ManpowerGroup Inc. has a 12-month low of $25.15 and a 12-month high of $63.88. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 2.31 and a beta of 0.70. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.27.
ManpowerGroup (NYSE:MAN – Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The business services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.72 billion. ManpowerGroup had a return on equity of 7.45% and a net margin of 0.56%.During the same period last year, the business earned ($1.44) EPS. ManpowerGroup has set its Q3 2026 guidance at 0.960-1.060 EPS. On average, sell-side analysts forecast that ManpowerGroup Inc. will post 3.62 earnings per share for the current fiscal year. Analyst Ratings Changes MAN has been the subject of several research analyst reports. Barclays lifted their price objective on ManpowerGroup from $30.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Truist Financial raised their target price on ManpowerGroup from $34.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, July 17th. The Goldman Sachs Group boosted their price target on ManpowerGroup from $36.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Robert W. Baird raised their price target on shares of ManpowerGroup from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $53.50.
Get Our Latest Stock Analysis on MAN
ManpowerGroup Profile (Free Report)
ManpowerGroup Inc is a global workforce solutions and staffing company that connects organizations with skilled talent and helps individuals build careers. The company provides temporary and permanent recruitment, workforce management, talent development, career transition and outplacement services.
Its principal brands include Manpower, which focuses on staffing and workforce solutions; Experis, which specializes in information technology and professional talent; and Talent Solutions, which provides recruitment process outsourcing, talent consulting and workforce management services.
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Recognition reinforces Experis's leadership in AI-enabled workforce and technology solutions that help organizations accelerate business outcomes.
, /PRNewswire/ -- Enterprises are rethinking not only how they access technology talent, but how skilled people and AI work together to deliver business outcomes. Reflecting this shift, Everest Group has named Experis, part of the ManpowerGroup family of brands, a Leader in its U.S. IT Contingent Talent and Strategic Solutions PEAK Matrix® Assessment 2026.
Experis has been named a Leader in Everest Group's 2026 U.S. IT Contingent Talent and Strategic Solutions PEAK Matrix®. The assessment reflects Experis's expansion beyond traditional IT staffing into a broader portfolio of AI-enabled workforce and technology solutions. Everest Group's PEAK Matrix® evaluates providers on market impact, vision, and capabilities. Experis was assessed as a Leader across IT staffing, project solutions and managed services spanning cloud engineering, data and analytics, AI and DevSecOps, with delivery across healthcare, technology, life sciences, financial services, retail, and the public sector.
Central to this evolution is EXCELERATE AI, Experis's framework for integrating AI into technology services and workforce solutions. The approach combines AI use-case discovery, specialized AI teams and proprietary capabilities such as Sophie Code, which pairs skilled technologists with AI to accelerate software development, and Sophie Recruiter, which supports resume-to-role analysis, interview review, recruiter coaching, and candidate scoring while keeping human decision-making at the center of hiring.
"AI is changing not only the tools technologists use, but how organizations create value through technology," said Kye Mitchell, President, Experis U.S. "Our clients need more than access to technology. They need proven talent equipped to work effectively with AI and deliver against real business outcomes. Everest Group's recognition affirms what our clients already see: that pairing skilled people with AI, through EXCELERATE AI, helps them move faster, raise quality, and turn technology investment into measurable results."
"Experis has been recognized as a Leader on Everest Group's U.S. IT Contingent Talent and Strategic Solutions PEAK Matrix® Assessment 2026, due to its strong capabilities in talent sourcing and technology solutions across AI, data and analytics, and cloud," said Priyanka Mitra, Vice President, Everest Group. "Its continued investments in AI-enabled recruitment, upskilling and reskilling solutions, and outcome-based services have further strengthened its positioning."
ABOUT EXPERIS
Experis®, a global leader in technology talent and services, provides the experience and expertise to shorten the distance between innovation and business impact in a digital world. Experis is guided by the principle of Human Ingenuity: the belief that technology delivers its greatest value when paired with the right people, skills, and execution. For clients, Experis offers the right mix of talent, governance, and implementation expertise to turn AI investments into measurable results, building solutions that fit their business and enable their teams to succeed in an AI-powered future. For individuals, Experis has the insight, size, and scale to help tech professionals expand their skills, increase their value, and find the right opportunities. By matching talent to technology in transformative ways, Experis creates brighter futures for everyone. Experis is part of the ManpowerGroup® (NYSE: MAN) family of brands, which also includes Manpower and Talent Solutions.
For more information, visit www.experis.com, or follow us on LinkedIn.
DISCLAIMER
Licensed extracts taken from Everest Group's PEAK Matrix® Reports may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group's PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group's analysts and included in Everest Group's PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports.
Latest Experis Tech Talent Outlook shows the global tech Net Employment Outlook at 37% for Q4, as employers prioritize AI capabilities alongside the human skills needed to put them to work
, /PRNewswire/ -- Global tech hiring intentions are holding firm heading into the final quarter of 2026, even as employers become more focused on the skills needed to make technology transformation work. More than 4,000 Tech & IT Services employers across 42 countries report a global Net Employment Outlook (NEO) of 37% for Q4, according to the latest Tech Talent Outlook from Experis, part of the ManpowerGroup family of brands.
Experis Tech Talent Outlook shows the global tech Net Employment Outlook at 37% for Q4. The Outlook is up two points from the previous quarter and unchanged from a year ago. More than half (51%) of employers plan to increase staffing levels, while 34% expect to maintain their current workforce and 14% anticipate reductions. The strongest hiring expectations are reported in Guatemala* (74%), Brazil (61%), Costa Rica (55%), and Puerto Rico (55%). The U.S. Outlook stands at 37%, in line with the global average.
"Global tech hiring is steady, but the skills employers value most are shifting. What stands out is that in a tech report, the most in-demand skills are human ones. Communication, professionalism, and adaptability all rank above the top technical skill," said James Hallahan, Experis Europe Brand Leader. "This is human ingenuity at work; the judgment, creativity, and problem-solving that turn AI capability into real value. AI remains central to technology investment, but it's these human skills that determine whether that investment pays off. The organizations that pull ahead won't just be the ones adopting AI fastest; they'll be the ones building the workforce who can apply it."
Key Global Findings
Hiring holds steady: The global tech NEO stands at 37% for Q4, up two points quarter-over-quarter, with 51% of employers planning to increase staffing levels and just 14% anticipating a decrease. Human skills remain the differentiator in tech: Communication, Collaboration & Teamwork (41%) and Professionalism & Work Ethic (37%) rank as the most sought-after skills overall, each above the leading technical skill. AI skills lead technical demand: AI Modeling & App Development is the most sought-after technical skill globally (34%), followed by AI Literacy (30%), and Traditional IT & Data skills, excluding AI (29%). Regional Highlights
While the overall global tech hiring Outlook held steady, the picture varied by region with several markets strengthening year-over-year and others showing more caution.
The Americas
Guatemala leads the global tech hiring Outlook at 74%, followed by Brazil (61%), and Costa Rica and Puerto Rico each at 55%. Hiring expectations also strengthened sharply year-over-year, led by Guatemala (up 50 points), Panama* (up 46 points), and Colombia (up 39 points). The U.S. reports a 37% Outlook, in line with the global average, though hiring intentions are down 10 points year-over-year. Asia Pacific:
India reports the strongest hiring expectations in the region at 53%, followed by China (33%), Taiwan (33%), and Hong Kong (31%). India's Outlook increased 10 points year-over-year. Europe and the Middle East:
The U.A.E.* leads the region at 47%, followed by Sweden at 41%, and Israel and Portugal at 36% . Hiring expectations declined year-over-year in Romania and Slovakia, with Outlooks of -2% and -8%, respectively. *Figures for Guatemala and Panama reflect smaller sample sizes this quarter and should be treated as indicative. The NEO for the U.A.E. is currently unadjusted and will be seasonally adjusted once sufficient data is available.
Explore the complete Q4 2026 global and country-level findings at: Experis Tech Talent Outlook
The next Experis Tech Talent Outlook, covering Q1 2027 hiring expectations, will be released in December 2026.
ABOUT THE EXPERIS TECH TALENT OUTLOOK
The research is based on responses from 4,258 Tech and IT Services sector employers across 42 countries included in ManpowerGroup's Employment Outlook Survey — the longest running, most comprehensive, forward-looking employment survey of its kind, used globally as a key labor market indicator. The data for the fourth quarter was collected between July 1-31, 2026.
ABOUT THE EXPERIS TECH TALENT OUTLOOK'S TECH & IT SERVICES INDSUTRY SECTOR
ManpowerGroup has introduced an updated industry sector classification to ensure our insights more closely reflect today's global economy. Historical data has been reclassified to maintain consistency over time, and national and regional results remain unchanged. The Tech & IT Services' classification is defined by the following North American Industry Classification System (NAICS) Sectors: Computer and Electronic Product Manufacturing (334); Internet Publishing and Broadcasting (516); Telecommunications (517); Data Processing, Hosting, and Related Services (518); Other Information Services (519); and Computer Systems Design and Related Services (5415).
ABOUT THE TALENT SHORTAGE SURVEY
ManpowerGroup's 2026 Talent Shortage Survey interviewed 39,063 employers across 41 countries to understand global hiring challenges and skills gaps. The fieldwork was completed in all markets between October 1 – 31, 2025.
ABOUT EXPERIS
Experis®, a global leader in technology talent and services, provides the experience and expertise to shorten the distance between innovation and business impact in a digital world. Experis is guided by the principle of Human Ingenuity: the belief that technology delivers its greatest value when paired with the right people, skills, and execution. For clients, Experis offers the right mix of talent, governance, and implementation expertise to turn AI investments into measurable results, building solutions that fit their business and enable their teams to succeed in an AI-powered future. For individuals, Experis has the insight, size, and scale to help tech professionals expand their skills, increase their value, and find the right opportunities. By matching talent to technology in transformative ways, Experis creates brighter futures for everyone. Experis is part of the ManpowerGroup® (NYSE: MAN) family of brands, which also includes Manpower and Talent Solutions.
For more information, visit www.experis.com, or follow us on LinkedIn.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn, Facebook, and Bluesky.
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements, including statements regarding labor demand in certain regions, countries and industries, and economic uncertainty. Actual events or results may differ materially from those contained in the forward-looking statements, due to risks, uncertainties and assumptions. These factors include those found in the Company's reports filed with the U.S. Securities and Exchange Commission (SEC), including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2025, whose information is incorporated herein by reference. ManpowerGroup disclaims any obligation to update any forward-looking or other statements in this release, except as required by law.
ManpowerGroup (NYSE:MAN – Get Free Report) and Public Policy (NASDAQ:PPHC – Get Free Report) are both industrials companies, but which is the better stock? We will compare the two businesses based on the strength of their analyst recommendations, profitability, earnings, dividends, valuation, risk and institutional ownership.
Analyst Recommendations This is a breakdown of recent ratings and target prices for ManpowerGroup and Public Policy, as reported by MarketBeat.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score ManpowerGroup 0 6 3 0 2.33 Public Policy 1 1 2 0 2.25 ManpowerGroup presently has a consensus target price of $53.50, suggesting a potential downside of 6.11%. Public Policy has a consensus target price of $17.00, suggesting a potential upside of 50.84%. Given Public Policy’s higher probable upside, analysts clearly believe Public Policy is more favorable than ManpowerGroup.
Profitability This table compares ManpowerGroup and Public Policy’s net margins, return on equity and return on assets. Net Margins Return on Equity Return on Assets ManpowerGroup 0.56% 7.45% 1.79% Public Policy -18.85% -0.26% -0.11% Insider and Institutional Ownership 98.0% of ManpowerGroup shares are owned by institutional investors. 3.0% of ManpowerGroup shares are owned by company insiders. Comparatively, 14.6% of Public Policy shares are owned by company insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock is poised for long-term growth.
Earnings and Valuation This table compares ManpowerGroup and Public Policy”s top-line revenue, earnings per share (EPS) and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio ManpowerGroup $17.96 billion 0.15 -$13.30 million $2.20 25.90 Public Policy $186.54 million 1.83 -$39.00 million $0.11 102.45 ManpowerGroup has higher revenue and earnings than Public Policy. ManpowerGroup is trading at a lower price-to-earnings ratio than Public Policy, indicating that it is currently the more affordable of the two stocks.
Dividends ManpowerGroup pays an annual dividend of $1.44 per share and has a dividend yield of 2.5%. Public Policy pays an annual dividend of $0.48 per share and has a dividend yield of 4.3%. ManpowerGroup pays out 65.5% of its earnings in the form of a dividend. Public Policy pays out 436.4% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future.
Summary ManpowerGroup beats Public Policy on 10 of the 15 factors compared between the two stocks.
About ManpowerGroup (Get Free Report)
ManpowerGroup Inc. provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives. In addition, the company provides workforce consulting services; contingent staffing and permanent recruitment services; professional resourcing and project-based services; and recruitment process outsourcing, TAPFIN managed, and talent solutions. The company was incorporated in 1948 and is headquartered in Milwaukee, Wisconsin.
About Public Policy (Get Free Report)
Our mission is to become the preeminent provider of global strategic communications by uniting a diverse group of leading government relations, corporate communications and public affairs specialists around the world for the collective success of our clients, employees, and shareholders. Founded by veteran advisors with decades of experience in Washington, D.C.’s public policy and government relations landscape, we have grown and diversified our global communications advisory business through targeted acquisitions and organic growth. We designed our business to address the growing complexity and costs facing major corporate and non-profit entities in managing increasingly intricate and interdependent public policy and reputational challenges, and we now help more than 1,400 clients around the world navigate today’s complex mosaic of stakeholders across the full spectrum of corporate affairs. Our clients include nearly half of the Fortune 100. Across our growing portfolio, our specialized firms offer global strategic communications services, including government relations, corporate communications, public affairs, research, crisis management, financial communications and investor relations, and creative communications delivery. We are active in all major sectors of the economy, including healthcare and pharmaceuticals, asset management and financial services, energy, technology, telecoms and transportation. Our diverse and complementary services help clients enhance, fortify and defend their reputations, advance corporate strategy, manage regulatory risk and opportunities, and maintain productive, ongoing engagement with their most important stakeholders including federal- and state-level policy makers, investors, employees, customers, the media and the general public. We do this in multiple jurisdictions with our diverse and complementary capabilities. Our business comprises three reporting segments—Government Relations Consulting, Corporate Communications & Public Affairs Consulting and Compliance and Insights Services—corresponding to the different types of strategic communications services our member companies provide to our clients: Government Relations Consulting services (which is also commonly referred to as “lobbying”) include advocacy, strategic guidance, political intelligence and issue monitoring at the US federal and state levels and in the United Kingdom through our offices in London; Corporate Communications & Public Affairs Consulting services include crisis communications, financial communications and investor relations, litigation support, community relations, social and digital media, public opinion research, branding and messaging, and relationship marketing, across the United States and internationally through our offices in London, Shanghai, Abu Dhabi, and Dubai; and Compliance and Insights Services include lobbying compliance services and legislative tracking. Importantly, as distinct from legacy branded competitors in our industry who have sought to be all-in-one providers of strategic communications services to their clients, we deliver complementary strategic communications services through stand-alone firms. Each of our firms is recognized for excellence in its respective area of expertise, and it is incentivized to collaborate and to partner with each of our other firms while maintaining a strong focus on its specialized services. Our business model allows us to deliver both the scale and reach of those all-in-one providers and also the higher standards of quality, service, creativity and agility that traditionally have been the domain of smaller boutiques. We seek to eliminate the traditional trade-off between scale and quality, and our growth demonstrates that our business model is well-suited to the needs and preferences of modern clients. Since our inception in 2014, we have acquired and integrated numerous businesses specializing in key facets of the global strategic communications market. Under our holding company, we now operate as 12 member companies in the United States and the United Kingdom, with expanding reach into Europe and parts of Asia and the Middle East. Our 12 member companies (together with PPHC, the “Company”) include Crossroads Strategies, LLC (“Crossroads”), Forbes Tate Partners LLC (“Forbes Tate”), Blue Engine Message & Media, LLC (doing business as Seven Letter) (“Seven Letter”), O’Neill & Partners, LLC (doing business as O’Neill & Associates) (“O’Neill”), Alpine Group Partners, LLC (“Alpine”), KP Public Affairs LLC (“KP”), MultiState Associates, LLC (“MultiState”), Concordant LLC (“Concordant”), Lucas Public Affairs, LLC (“Lucas”), Pagefield Communications Limited (“Pagefield”),TrailRunner International, LLC (“TrailRunner”), and Pine Cove Strategies, LLC (“Pine Cove”). We announced the earnings-accretive acquisition of Texas-based TrailRunner for initial consideration of $33.0 million in January 2025, comprising $28.1 million in cash and 2,966,138 shares of our Common Stock (representing 593,228 shares of Common Stock after giving effect to the Reverse Stock Split). Closing occurred on April 1, 2025. TrailRunner operates with a global team across offices in Texas, New York, Nashville, and Northern California, London, Shanghai, Abu Dhabi, and Dubai. There are additional contingent payments, up to $37.0 million, that the TrailRunner seller can earn in the future depending on certain operating results that are achieved. We announced the earnings-accretive acquisition of Pine Cove for initial consideration of $3.0 million in July 2025, comprising $2.6 million in cash and 214,146 of new shares of Common Stock (representing 42,830 shares of Common Stock after giving effect to the Reverse Stock Split). Closing occurred on August 1, 2025. Pine Cove is a strategic consulting firm that serves as a long-term partner to clients ranging from start-ups to established businesses and Fortune 500 companies. It advises and supports clients in navigating regulatory and complex business challenges. There are additional contingent payments, up to $10.0 million, that Pine Cove can earn in the future depending on certain operating results that are achieved. We operate in large, growing markets. We estimate that our total addressable market (“TAM”) in 2024 was in excess of $20.0 billion, comprising $4.4 billion of disclosed federal lobbying expenditure, $2.2 billion of disclosed US state-based lobbying expenditure, an estimated $5.6 billion of global public affairs spend, and an estimated $8.4 billion global corporate communications spend. The latter, which covers corporate, crisis, and financial communications, became a larger part of our offering with the 2025 acquisition of TrailRunner. As a company designed by and for the operators of advisory businesses, we optimize corporate strategy, cross-selling and referral opportunities for our portfolio companies through proactive and collaborative engagement both firm-to-firm and at the holding company level. We provide our companies with a scalable platform for growth, providing uniform and efficient financial infrastructure, legal services, human resources, compliance and administration at the parent company level. We incentivize cross-company selling, talent referral and retention opportunities to sustain our world-class talent, and we aim to reduce the overall incidence of client or sector conflicts by incentivizing our member companies to refer potential clients to other member companies or individual employees who are unconflicted and available to engage. These signature operator-friendly aspects of the business have enabled PPHC to successfully acquire firms that are among the very best in their fields, to retain and attract great talent in those firms and to drive strong organic growth across the platform. We have grown our geographical reach and practice capabilities to provide clients a full range of services through multiple member companies. Our evolution to date is the result of a careful and methodical strategy to build a unique service platform to simplify and more effectively address global client needs and opportunities in an increasingly fragmented and fast-moving environment where business, government, and public perception converge. This growth strategy is predicated on adding both geographic reach and a broad set of capabilities to help clients anticipate the expectations of key stakeholders and drive stakeholder engagement and alignment. Building on the globalization of public policy and reputation challenges, our founders and many of our senior managers operate in Washington, D.C., and have past careers and/or close professional ties to the US executive branch, Congress and regulatory authorities. Other leaders operate principally at the state or regional level, drawing on decades of experience, deep community ties and relationships with key stakeholders in key markets, including Sacramento, Dallas-Fort Worth, Austin, and New York. With the acquisitions of Pagefield in June 2024 and TrailRunner in April 2025, we expanded our operations to other key US markets as well as to London, Shanghai, Abu Dhabi and Dubai, giving us truly global reach in key financial centers. We continue to look for opportunities to broaden the geographic scope of our services both domestically and abroad. As of December 31, 2025, we had more than 1,400 active client relationships. In 2025, 613 clients contributed $100,000 or more in annual revenue, with no single client representing more than 2.1% of overall revenue, reflecting relatively low client concentration risk. We have a track record of high client retention, with an average annual client renewal rate of approximately 77.4% and an average revenue retention rate of 85.5% between 2021 to 2025. We are a Delaware corporation and were incorporated on February 4, 2021. Our principal executive offices are located in Washington, D.C.
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Key Takeaways ManpowerGroup shares rose 66.8% in three months, while 2026 earnings are projected to increase 21.9%.MAN targets $200M in annual savings by 2028 as AI, pricing discipline and cost controls boost efficiency.ManpowerGroup's cash fell to $180.6 million in Q2 2026 after $585.8 million of debt repayments. Shares of ManpowerGroup (MAN - Free Report) have had an excellent run over the past three months. The stock has risen 66.8% compared with the industry's 25.2% growth. The Zacks S&P 500 Composite rose 3% during that period.
MAN has a Growth Score of B. This style score condenses key financial metrics to reflect a fair sense of the quality and sustainability of its growth.
The company’s third-quarter 2026 earnings are expected to increase 21.7% year over year. Its 2026 and 2027 earnings are projected to rise 21.9% and 41.2%, respectively. Revenues are anticipated to grow 7.3% in 2026 and 4.4% in 2027.
Factors That Bode Well for MAN’s SuccessBroad-Based Demand Supports Growth: ManpowerGroup is benefiting from healthy demand across key verticals, including manufacturing, automotive, aerospace, logistics and retail, supported by strengthening sales activity in the United States. Manpower revenues increased 8% year over year in constant currency in the second quarter of 2026, marking its fifth consecutive quarter of growth. Sustained client demand across these end markets provides a firmer foundation for continued revenue growth and improved earnings over time.
Cost Discipline & Technology Investments Boost Efficiency: The company remains focused on pricing discipline, cost control and technology-led efficiency. MAN is expanding artificial intelligence (AI) across sales and recruitment, while its transformation program targets $200 million in permanent annual savings by 2028. In the second quarter of 2026, sales, general and administrative expenses excluding impairment charges declined 4.6% year over year or 6% in constant currency, while adjusted EBITA rose 15% in constant currency to $103 million. Despite restructuring costs and the Jefferson Wells divestiture, ongoing efficiency measures should support profitability.
Consistent Dividend & Share Buybacks: ManpowerGroup maintains a consistent record of returning capital through share repurchases and dividends. Share repurchases totaled $179.8 million in 2023, $140 million in 2024 and $38 million in 2025, while dividend payments were $144.3 million, $145.8 million and $66.7 million, respectively. In the first half of 2026, the company paid an additional $33.5 million in dividends. These sustained capital returns reflect management’s commitment to enhancing shareholder value.
Watch Out for These Risks to MAN StockCompetition & AI Threats Intensify: ManpowerGroup operates in a fragmented staffing market with low barriers to entry and intense competition from global providers, specialized firms and in-house recruiters. AI could further pressure demand by automating sourcing, screening and candidate matching, reducing reliance on external staffing services.
Liquidity Cushion Narrows: ManpowerGroup’s cash balance fell to $180.6 million in the second quarter of 2026 from $871 million at 2025-end, largely due to $585.8 million of debt repayments. Though long-term borrowings declined to $567.3 million, operating activities used $129 million in the first half. Stronger cash generation will be needed to rebuild liquidity and support the improved leverage profile.
ManpowerGroup has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to ConsiderA couple of better-ranked stocks in the broader Business Services sector are Thomson Reuters Corporation (TRI - Free Report) and Veralto Corporation (VLTO - Free Report) .
Thomson Reuters carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 11.7%.
TRI delivered a trailing four-quarter earnings surprise of 2.7%, on average.
Veralto also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 8%.
VLTO beat earnings estimates in each of the trailing four quarters, with an average earnings surprise of 6.6%.
Employer hiring intentions rise six points year-over-year, with nearly two-thirds of those expanding headcount hiring for new capabilities and just one third replacing like-for-like skills
, /PRNewswire/ -- Employers expect Global hiring momentum to strengthen slightly heading into the final quarter of 2026, according to ManpowerGroup's latest Employment Outlook Survey of 39,878 employers across 42 countries. The global Net Employment Outlook (NEO) for Q4 2026 stands at 29%, up two points from the previous quarter and six points from the same period last year.
From Gridlock to Green Lights
Changing Roles & Skills Drive a Growing Share of Hiring Beneath the headline, the data points to a workforce in transition. Among employers planning to add staff, 62% cite changing roles and skills as the primary driver, including branching into new areas, new expertise demanded by advancing technology, and shifts in the skills their services require.
"This data demonstrates employers continue to place high value on human skills, even as the nature of work shifts with technological advancements," said Jonas Prising, ManpowerGroup Chair & CEO. "Nearly two-thirds of employers tell us they are hiring because the roles and skills their organizations need are changing – many are reconsidering the tasks within jobs rather than displacing full positions. Over the next five years, the defining challenge will be redesigning work at scale. The most forward-thinking employers are building the skills they need from both within and outside their companies – shaping agile workforces that can adapt as organizations seek to realize the true value of AI."
Forty-three percent of employers globally plan to increase staffing between October and December, compared with 14% anticipating reductions, while 41% expect staffing levels to remain unchanged. Expected decreases are driven more by a soft economic environment as opposed to AI or automation.
Entry-Level Hiring Holds Firm as AI Reshapes Early-Career Work
The survey also points to a more surprising finding on early-career hiring. Across every industry surveyed, more employers report increasing entry-level hiring than cutting it, with 45% adding early-career talent compared with 2025 against 20% pulling back. Where employers are scaling back, cost pressure and a lack of experience weigh more heavily than AI, suggesting automation is reshaping early-career roles rather than eliminating the need for them.
Changing Roles and Skills Drive a Growing Share of Hiring
While company expansion (39%) remains the single most common reason employers are adding staff, the survey shows that hiring is increasingly about transformation rather than growth alone. At the same time, 21% of organizations increasing headcount pointed to advancing tech, while 16% cite adapting to shifts in the skills their services require.
At the same time, 32% of employers adding staff say they are backfilling positions. Together, the findings describe a labor market in which employers are hiring to reshape their workforces, not simply to enlarge them, as the composition of roles and the skills behind them continue to change.
AI Has Yet to Make Hiring Consistently Faster
Despite increasing use of AI across recruitment, employers are not yet seeing a universal improvement in time-to-hire. Twenty-eight percent say their average time-to-hire has become faster compared with 2025, while 41% say it has remained about the same and 30% say it has become slower.
Sector and Regional Highlights
Sector Insights
Construction & Real Estate and Finance & Insurance report the strongest hiring intentions for Q4 2026 at 36%, followed by Information at 35%. Construction & Real Estate posted the largest year-over-year improvement among sectors, rising 13 points. Regional Hiring Plans
The Americas posts the strongest regional hiring outlook at 36%, up two points quarter-over-quarter and 11 points year-over-year. Brazil (53%), Panama (49%), Mexico (41%) and the United States (36%) report some of the strongest hiring intentions in the region, with employers in Panama posting the largest year-over-year improvement worldwide, up 26 points. Asia Pacific reports a 34% NEO, up six points quarter-over-quarter and three points year-over-year. India leads all 42 countries surveyed at 54%, followed by Vietnam at 36% and China at 34%. Europe and the Middle East reports a 22% NEO, up five points quarter-over-quarter and five points year-over-year. Employers in The United Arab Emirates (41%), Sweden (39%) and Israel (34%) report the region's most optimistic hiring plans. Among the region's largest economies, the United Kingdom (23%) leads, followed by Germany (15%), and France (13%). To explore global hiring trends in detail, explore the complete Q4 2026 ManpowerGroup Employment Outlook Survey.
The next survey will be released in December 2026, reporting hiring expectations for Q1 2027. The 2027 cycle marks the 65th anniversary of the ManpowerGroup Employment Outlook Survey.
ABOUT THE SURVEY
The ManpowerGroup Employment Outlook Survey, now in its 64th year, is the most comprehensive, forward-looking employment survey of its kind, used globally as a key labor market indicator. The Net Employment Outlook (NEO) is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.
SURVEY METHODOLOGY
The data for the fourth quarter was collected between July 1–31, 2026. The findings are based on interviews with 39,878 public and private employers across 42 countries to measure anticipated employment changes and trends. The results reflect employer sentiment at the time of data collection and may not capture the potential impact of subsequent events. Size of organization and sector are standardized across all countries and territories to allow international comparisons.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn, Facebook, and Bluesky.
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements, including statements regarding labor demand in certain regions, countries and industries, and economic uncertainty. Actual events or results may differ materially from those contained in the forward-looking statements, due to risks, uncertainties and assumptions. These factors include those found in the Company's reports filed with the U.S. Securities and Exchange Commission (SEC), including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2025, whose information is incorporated herein by reference. ManpowerGroup disclaims any obligation to update any forward-looking or other statements in this release, except as required by law.
ManpowerGroup Inc. (NYSE:MAN – Get Free Report)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $62.96 and last traded at $61.38, with a volume of 674341 shares traded. The stock had previously closed at $61.45.
Analysts Set New Price Targets MAN has been the subject of a number of analyst reports. Barclays lifted their target price on shares of ManpowerGroup from $30.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of ManpowerGroup from a “sell (d)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of ManpowerGroup from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Robert W. Baird upped their price objective on shares of ManpowerGroup from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, BMO Capital Markets increased their target price on shares of ManpowerGroup from $49.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.50.
View Our Latest Analysis on ManpowerGroup
ManpowerGroup Stock Down 0.1% The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. The business has a 50-day simple moving average of $46.97 and a 200-day simple moving average of $35.64. The stock has a market cap of $2.85 billion, a P/E ratio of 27.90 and a beta of 0.67. ManpowerGroup (NYSE:MAN – Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The business services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.72 billion. ManpowerGroup had a net margin of 0.56% and a return on equity of 7.45%. During the same period in the previous year, the company earned ($1.44) earnings per share. ManpowerGroup has set its Q3 2026 guidance at 0.960-1.060 EPS. Analysts expect that ManpowerGroup Inc. will post 3.62 EPS for the current year.
Institutional Investors Weigh In On ManpowerGroup Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new stake in ManpowerGroup during the 3rd quarter valued at approximately $25,000. Global Retirement Partners LLC acquired a new position in shares of ManpowerGroup during the second quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of ManpowerGroup during the third quarter worth approximately $30,000. Fifth Third Bancorp boosted its position in shares of ManpowerGroup by 637.7% in the fourth quarter. Fifth Third Bancorp now owns 1,114 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 963 shares during the period. Finally, Elevation Wealth Partners LLC boosted its position in shares of ManpowerGroup by 2,007.4% in the second quarter. Elevation Wealth Partners LLC now owns 1,138 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 1,084 shares during the period. 98.03% of the stock is owned by institutional investors and hedge funds.
ManpowerGroup Company Profile (Get Free Report)
ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.
The company’s service offerings are organized into four principal brands.
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Key Takeaways ManpowerGroup shares gained 122% in six months, topping the industry's 76% rally and the S&P 500's 11.1% rise.Revenue growth accelerated to 6% in Q2'26 on a constant-currency basis, with gains across key markets.SG&A fell 6% in Q2 as revenues rose 5.8% y/y, while cost-saving efforts target $200M by 2028. ManpowerGroup (MAN - Free Report) stock has soared 122% over the past six months, outperforming the industry’s 76% rally and the Zacks S&P 500 Composite's 11.1% rise.
6-Month Share Price Performance Image Source: Zacks Investment Research
Let us delve deeper into the factors that have contributed to the company’s outperformance.
Recovering Demand TrajectoryThe first quarter of 2026 marked ManpowerGroup's fifth consecutive quarter of year-over-year top-line growth. During the aforementioned quarter, revenues gained 3% year over year on a constant-currency basis. The growth rate accelerated to 6% year over year on a constant-currency basis in the second quarter of 2026. The company witnessed this enhancement across the United States, Latin America, APME and a few European markets, while the top-line trajectory took off across Experis and Talent Solutions.
Cost-Savings Enhance Operating LeverageManpowerGroup indulged in reducing the cost base through prudent expense management and an expansion in the global strategic transformation program targeted at stripping away structural costs and improving efficiency. This program is anticipated to generate $200 million in cost savings by 2028.
In the first quarter of 2026, this strategy resulted in cutting selling, general and administrative (SG&A) expenses by 2.2% year over year on a constant-currency basis despite a 2.9% uptick in the top line, generating operating leverage. This trend continued during the second quarter of 2026 as SG&A expenses declined 6% year over year on a constant-currency basis, while the top line gained 5.8%.
Solid Liquidity ProfileManpowerGroup’s current ratio improved to 1.04 in the second quarter of 2026 from 0.98 a year earlier, indicating an improvement in covering short-term obligations. As of June 30, total debt stood at $1.04 billion, including $456 million in notes due in 2027 and $567 million due in 2030. The sharp decline in reported long-term debt from year-end partly reflects the repayment of pre-funded 2026 notes and reclassification of 2027 maturities rather than pure deleveraging.
Current Ratio Image Source: Zacks Investment Research
Shareholder-Friendly StrategyManpowerGroup returned $179.8 million, $140 million and $38 million through share repurchases in 2023, 2024 and 2025, whereas dividend payments totaled $144.3 million, $145.8 million and $66.7 million, respectively. This consistent return of capital underscores management's commitment to enhancing shareholder value.
Zacks Rank & Stocks to ConsiderManpowerGroup currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are The Geo Group (GEO - Free Report) and Figure Technology Solutions (FIGR - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Geo Group has a long-term earnings growth expectation of 14%. GEO delivered a trailing four-quarter earnings surprise of 24.6%, on average.
Figure Technology Solutions has a long-term earnings growth expectation of 51.7%. FIGR delivered a trailing four-quarter earnings surprise of 28.2%, on average.
California State Teachers Retirement System boosted its holdings in shares of ManpowerGroup Inc. (NYSE:MAN – Free Report) by 38.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,089 shares of the business services provider’s stock after buying an additional 17,099 shares during the period. California State Teachers Retirement System owned approximately 0.13% of ManpowerGroup worth $1,800,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in MAN. AQR Capital Management LLC grew its holdings in shares of ManpowerGroup by 60.3% in the third quarter. AQR Capital Management LLC now owns 3,704,326 shares of the business services provider’s stock valued at $140,394,000 after acquiring an additional 1,393,622 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of ManpowerGroup by 235.8% during the first quarter. Quantinno Capital Management LP now owns 1,793,963 shares of the business services provider’s stock valued at $52,850,000 after acquiring an additional 1,259,752 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in ManpowerGroup by 696.9% during the second quarter. Balyasny Asset Management L.P. now owns 991,063 shares of the business services provider’s stock worth $40,039,000 after acquiring an additional 866,693 shares during the period. Millennium Management LLC lifted its holdings in ManpowerGroup by 77.3% during the fourth quarter. Millennium Management LLC now owns 1,525,936 shares of the business services provider’s stock worth $45,366,000 after acquiring an additional 665,135 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in ManpowerGroup in the fourth quarter worth $14,420,000. 98.03% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth A number of research analysts have issued reports on MAN shares. Weiss Ratings upgraded ManpowerGroup from a “sell (d)” rating to a “hold (c)” rating in a research note on Tuesday. Truist Financial lifted their target price on ManpowerGroup from $34.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, July 17th. Wall Street Zen downgraded shares of ManpowerGroup from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. BMO Capital Markets increased their price target on shares of ManpowerGroup from $49.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, Barclays increased their price target on shares of ManpowerGroup from $30.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.50.
Check Out Our Latest Stock Report on ManpowerGroup
ManpowerGroup Price Performance ManpowerGroup stock opened at $56.12 on Thursday. ManpowerGroup Inc. has a 12 month low of $25.15 and a 12 month high of $57.94. The company has a current ratio of 1.04, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The business’s 50 day simple moving average is $42.73 and its 200 day simple moving average is $34.13. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 25.51 and a beta of 0.67.
ManpowerGroup (NYSE:MAN – Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The business services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.72 billion. ManpowerGroup had a return on equity of 7.45% and a net margin of 0.56%.During the same period in the prior year, the company earned ($1.44) earnings per share. ManpowerGroup has set its Q3 2026 guidance at 0.960-1.060 EPS. Sell-side analysts forecast that ManpowerGroup Inc. will post 3.62 EPS for the current year.
ManpowerGroup Profile (Free Report)
ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.
The company’s service offerings are organized into four principal brands.
See Also Five stocks we like better than ManpowerGroup GE Vernova’s AI Power Boom Faces a Profit Test Cardinal Health Earnings: Can Perfection Get Priced In Twice? Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Legacy Jet Builders Stall While Embraer Accelerates to New Highs Want to see what other hedge funds are holding MAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ManpowerGroup Inc. (NYSE:MAN – Free Report).
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Assenagon Asset Management S.A. acquired a new stake in shares of ManpowerGroup Inc. (NYSE:MAN – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 128,000 shares of the business services provider’s stock, valued at approximately $4,323,000. Assenagon Asset Management S.A. owned about 0.28% of ManpowerGroup at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in ManpowerGroup by 60.3% in the 3rd quarter. AQR Capital Management LLC now owns 3,704,326 shares of the business services provider’s stock valued at $140,394,000 after acquiring an additional 1,393,622 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of ManpowerGroup by 235.8% during the 1st quarter. Quantinno Capital Management LP now owns 1,793,963 shares of the business services provider’s stock valued at $52,850,000 after purchasing an additional 1,259,752 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of ManpowerGroup by 696.9% during the second quarter. Balyasny Asset Management L.P. now owns 991,063 shares of the business services provider’s stock valued at $40,039,000 after purchasing an additional 866,693 shares in the last quarter. Millennium Management LLC grew its position in shares of ManpowerGroup by 77.3% during the fourth quarter. Millennium Management LLC now owns 1,525,936 shares of the business services provider’s stock valued at $45,366,000 after purchasing an additional 665,135 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of ManpowerGroup in the fourth quarter worth about $14,420,000. Hedge funds and other institutional investors own 98.03% of the company’s stock.
ManpowerGroup Price Performance NYSE:MAN opened at $56.12 on Thursday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 25.51 and a beta of 0.67. ManpowerGroup Inc. has a 1 year low of $25.15 and a 1 year high of $57.94. The business has a 50 day simple moving average of $42.73 and a 200-day simple moving average of $34.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.04 and a quick ratio of 1.12.
ManpowerGroup (NYSE:MAN – Get Free Report) last released its earnings results on Thursday, July 16th. The business services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. ManpowerGroup had a return on equity of 7.45% and a net margin of 0.56%.The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the company posted ($1.44) EPS. ManpowerGroup has set its Q3 2026 guidance at 0.960-1.060 EPS. Equities analysts forecast that ManpowerGroup Inc. will post 3.62 EPS for the current year.
Wall Street Analyst Weigh In A number of equities research analysts recently commented on the company. Wall Street Zen downgraded ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. BMO Capital Markets raised their price target on ManpowerGroup from $49.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, July 17th. The Goldman Sachs Group lifted their price objective on ManpowerGroup from $36.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, July 17th. Truist Financial increased their target price on ManpowerGroup from $34.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, July 17th. Finally, Barclays increased their target price on ManpowerGroup from $30.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.50.
View Our Latest Stock Report on MAN
ManpowerGroup Profile (Free Report)
ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.
The company’s service offerings are organized into four principal brands.
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The recognition marks Talent Solutions RPO's 16th consecutive year as a Global Leader in Everest Group's PEAK Matrix assessment, validating its evolution beyond traditional RPO toward intelligence-led workforce solutions designed to meet clients' changing workforce needs.
, /PRNewswire/ -- Hiring has become a symptom of a much larger workforce challenge. As AI accelerates change, skills shortages persist, and workforce needs evolve faster than organizations can adapt, business leaders are rethinking not only how they hire, but how they build, access, and deploy talent.
Reflecting that shift, Everest Group named Talent Solutions RPO, part of the ManpowerGroup family of brands, a Leader in its Recruitment Process Outsourcing (RPO) Services PEAK Matrix® Assessment 2026 – Global.
Talent Solutions RPO named a Leader in Everest Group's Recruitment Process Outsourcing (RPO) Services PEAK Matrix® Assessment 2026 – Global Marking the company's 16th consecutive year as a Leader, the recognition validates Talent Solutions RPO's continued evolution beyond traditional recruitment process outsourcing toward intelligence-led workforce solutions. From end-to-end RPO to modular and agile engagements, Talent Solutions RPO partners with clients in flexible ways that adapt to changing business needs while helping organizations navigate today's workforce realities.
Rather than treating recruitment as an isolated operational process, Talent Solutions RPO draws on one of the industry's most comprehensive views of global labor markets to help organizations anticipate skills gaps, navigate shifting economic conditions, and make smarter workforce decisions. Its delivery model is designed to integrate with clients' HR, technology, data, and governance ecosystems, enabling recruitment transformation at enterprise speed while maintaining local relevance and operational control. By combining advisory expertise with AI-enabled capabilities, including AI.Q from Sophie by ManpowerGroup™, across high-demand sectors such as manufacturing, energy, and technology, Talent Solutions RPO helps clients translate workforce intelligence into stronger business outcomes while improving hiring quality, speed, and candidate experience.
"Organizations don't just have a hiring problem; they have a workforce planning challenge, and increasingly it's the difference between whether a business can execute its strategy or not. As AI reshapes work and skills shortages continue across critical industries, leaders are looking beyond recruitment to understand where talent will come from, how work will get done, and how to stay ahead of constant change," said Caroline Pfeiffer Marinho, Global Business Leader, Talent Solutions RPO & Right Management. "That's where we come in. We help clients see how labor markets are actually moving so they can make better workforce decisions, integrate seamlessly with their organizations, and deliver the speed and quality today's business demands."
Everest Group's independent assessment validates that broader strategic direction, citing Talent Solutions RPO's expansive footprint, sector depth, and continued investment in AI-enabled intelligence.
"Talent Solutions RPO continues to strengthen its position in the global RPO market through its expansive delivery footprint and deep expertise across manufacturing, energy, and hi-tech and telecom industries. Its value proposition resonates well with its client base, thanks to its wide range of solutions including modular RPO and other agile engagements," Everest Group Vice President Sailesh Hota said. "Its continued investments in value-added services, as well as its pointed investments in Sophie AI.Q for enabling client access to AI-enabled labor market intelligence offerings, have helped position it as a Leader in Everest Group's Recruitment Process Outsourcing (RPO) Services PEAK Matrix® Assessment 2026 – Global."
As workforce models continue to evolve, Talent Solutions RPO is advancing its vision for workforce orchestration, where data-driven insight, human expertise, and AI-enabled innovation converge to help organizations build adaptable, future-ready workforces. This approach is supported by flexible delivery models, seamless integration, and a relentless focus on measurable business outcomes.
ABOUT MANPOWERGROUP TALENT SOLUTIONS
Talent Solutions combines RPO, TAPFIN-MSP, and Right Management to deliver end-to-end, data-driven capabilities across the talent lifecycle. Drawing on deep industry expertise and a genuine understanding of what talent wants, we help organizations address complex workforce needs, from attraction and acquisition to upskilling, development, and retention. Through seamless delivery, best-in-class technology, and extensive workforce insights, we serve clients across multiple countries and at scale. Talent Solutions is part of the ManpowerGroup® (NYSE: MAN) family of brands, which also includes Manpower and Experis.
For more information, visit www.mpgtalentsolutions.com, or follow us on LinkedIn.
Key Takeaways ManpowerGroup shares gained 39.2% in a month, outpacing the staffing industry's 15.2% rise.MAN's 2026 earnings are projected to rise 21.9%, while revenues are expected to increase 7.3% y/y.Demand for workforce, cloud, AI and data services, along with regional growth, supports ManpowerGroup. Shares of ManpowerGroup (MAN - Free Report) have had an excellent run over the past month. The stock has risen 39.2%, outperforming the industry’s 15.2% growth. The Zacks S&P 500 composite has risen 2.9% over the same time frame.
MAN has a Growth Score of B. This style score condenses key financial metrics to reflect a fair sense of the quality and sustainability of its growth.
ManpowerGroup has an encouraging earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 4.3%.
The company’s third-quarter 2026 earnings are expected to increase 21.7% year over year. Its 2026 and 2027 earnings are projected to rise 21.9% and 41.2%, respectively. Revenues are anticipated to grow 7.3% in 2026 and 4.4% in 2027.
Factors That Bode Well for MAN
ManpowerGroup is a global service provider of comprehensive workforce solutions. Its diversified business mix helps organizations with recruitment, training, outsourcing and consulting services. The consistent demand across manufacturing, automotive, aerospace, logistics and retail, along with U.S. sales activity, continues to drive the company’s growth. Rising automation concerns further increase demand for MAN’s upskilling and career transition solutions, supporting long-term revenue growth.
Strong demand for cloud migration, application development, data and artificial intelligence (AI) services continues to boost the company's growth. MAN’s brand, Experis, a specialized technology talent provider, empowers organizations to modernize technology infrastructure, streamline operations and accelerate innovation through expert consulting services in cloud, AI, data and applications.
The company is witnessing strong regional growth. During the second quarter of 2026, revenues from the Americas climbed 14.4% year over year. U.S. revenues grew 6%, while Other Americas revenues increased 29% year over year. Revenues in Southern Europe and Northern Europe jumped 7.4% and 3.9% year over year, respectively. This shows the company benefits from broad-based growth across markets, which mitigates concentration risks and expands its global footprint.
MAN boosts operational efficiency by balancing strict cost control and strategic pricing with targeted investments in operational technology. The company has rolled out cloud-based and mobile apps, upgraded front-office systems and enhanced global technology infrastructure across key markets.
MAN has demonstrated a strong commitment to its shareholders through consistent dividend payments and share repurchases. In fiscal 2023, 2024 and 2025, the company repurchased shares worth $179.8 million, $140 million and $38 million, respectively, while paying out $144.3 million, $145.8 million and $66.7 million, respectively, in dividends. This consistency underscores its dedication to creating long-term value for investors.
Risks to Watch
ManpowerGroup's global presence makes it vulnerable to foreign currency exchange rate fluctuations. The company earned nearly 85% of its revenues from outside the United States in 2025, the majority of which were generated in Europe. Volatility in the value of the U.S. dollar against other currencies heavily impacts the company’s bottom line.
Stiff competition from several players in a highly competitive employment services industry also affects MAN’s financial performance. This competition can limit pricing power, increase operational expenses and reduce market share. As a result, the company must balance competitive pricing strategies with the need to maintain healthy profit margins.
ManpowerGroup currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Stocks to Consider
A couple of better-ranked stocks in the broader Zacks Business Services sector are Veralto Corporation (VLTO - Free Report) and Thomson Reuters Corporation (TRI - Free Report) .
Veralto Corporation carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 8.4%. VLTO delivered a trailing four-quarter earnings surprise of 6.6%, on average.
Thomson Reuters also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 15.3%. TRI’s earnings beat estimates in each of the trailing four quarters, with the surprise being 2.7%, on average.
, /PRNewswire/ -- ManpowerGroup (NYSE: MAN) today announced the appointment of Paychex (Nasdaq: PAYX) President and Chief Executive Officer John B. Gibson, Jr. to its Board of Directors, effective September 1, 2026.
Paychex President and Chief Executive Officer John B. Gibson, Jr. elected to the ManpowerGroup Board of Directors, effective September 1, 2026. "John is an accomplished leader with deep experience across human capital management, technology-enabled services and business transformation," said Jonas Prising, ManpowerGroup Chair & CEO. "We are pleased to welcome him to our Board. His strategic perspective, operational expertise and track record of leading through change will strengthen our ability to evolve the business and advance our transformation strategy."
Gibson has served as President and Chief Executive office of Paychex since October 2022, leading the company's strategy of combining innovative technology with advisory solutions for HR, payroll, and benefits to help businesses grow and succeed. In April 2025, Gibson led Paychex's acquisition of Paycor, the largest in the company's history, expanding its human capital management platforms to address the workforce needs of businesses of all sizes.
Previously, from 2020 to 2022, Gibson was Paychex's President and Chief Operating Officer, overseeing operations, sales, service, marketing and product management. He joined Paychex in 2013 as Senior Vice President of Service. Prior to Paychex, he held senior leadership in the human capital management and technology sectors, including at Ameritech (now AT&T) and Convergys (now Concentrix), where he served as President of the HR management division providing global HR solutions to clients across 68 countries.
Gibson currently serves on the New York Fed's Second District Advisory Council. He holds a Bachelor of Arts degree from Indiana University and has completed executive education programs at Northwestern University's Kellogg School of Management and INSEAD's international business program.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time; all confirming our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us on LinkedIn and Facebook.
Part II of The New Talent Equation research series finds workforce confidence, leadership capability, and employee trust are determining which organizations realize value from AI and which fall behind.
, /PRNewswire/ -- As organizations accelerate investments in artificial intelligence, ManpowerGroup Talent Solutions today released new research finding the biggest barrier to AI transformation is no longer technology adoption. It is workforce readiness and leaders' ability to guide people through change. Only 3% of organizations say their leaders are highly prepared to manage AI-enabled ways of working, even as 78% report employee concern about how AI will affect their jobs.
"The New Talent Equation: Activating Workforce Confidence at Scale," a new report commissioned by Talent Solutions and developed with Everest Group, is the second report in a two-part research series examining how organizations can turn AI investment into business impact.
Only 3% of organizations say their leaders are highly prepared to manage AI-enabled ways of working,
34% of organizations report their greatest productivity improvements in AI-augmented roles, where people and AI collaborate through redesigned workflows, compared with just 8% reporting their strongest gains from fully automated roles.
The New Talent Equation: Activating Workforce Confidence at Scale, a new report commissioned by Talent Solutions and developed with Everest Group, is the second report in a two-part research series examining how organizations can turn AI investment into business impact. Building on the first report's focus on fragmented talent systems, this edition explores the human side of transformation, finding that leadership capability, employee trust, and workforce adaptability increasingly determine which organizations realize AI's full value.
"The conversation around AI has fundamentally changed," said Caroline Pfeiffer Marinho, Global Business Leader, Talent Solutions RPO & Right Management. "Most organizations have made significant progress deploying AI. What we're seeing now is that technology is no longer the primary challenge. Leaders are asking how to build workforce confidence, prepare managers, and help people adapt as work changes. The organizations creating lasting advantage are investing in both system transformation and workforce transformation."
"The first phase of Al transformation has been defined by adoption. The next phase is likely to be defined by adaptation," Sailesh Hota, Vice President, Everest Group, said. "As Al becomes embedded across talent processes and workforce systems, the ability to redesign how work is organized may become a more important determinant of success than technology deployment alone."
The research draws on a survey of 80 C-suite, CHRO, and senior talent acquisition leaders across the United States and United Kingdom, spanning healthcare, life sciences, manufacturing, and technology.
Key Findings
Workforce Readiness Is Falling Behind AI Adoption
Organizations are deploying AI faster than they are preparing people to use it. Only 17% of organizations report advanced or transformational workforce readiness, where AI capability is deeply embedded into workflows and linked to measurable business outcomes. Leadership Readiness Has Become AI's Biggest Bottleneck
Just 3% of organizations describe their leaders as highly prepared to manage AI-enabled ways of working, while nearly half say their leaders are only moderately prepared. The findings suggest leadership capability may now be a greater barrier to transformation than technology itself. Trust Is Becoming a Business Performance Issue
Nearly 78% of organizations report employee fear of job displacement, while 63% report workforce resistance to adopting AI tools after deployment. Workforce confidence now influences adoption, engagement, and how quickly organizations realize value from AI. Without employee trust, organizations will struggle to scale AI, regardless of the technology they deploy. AI Is Reshaping Jobs, Not Eliminating Them
Despite widespread concern about job displacement, organizations are responding to AI by redesigning work rather than reducing headcount. Nearly 63% identify reskilling and redeployment as the most common outcome for employees whose roles are significantly impacted by AI, while 86% rank AI-focused upskilling and reskilling among their top workforce priorities over the next 12 to 18 months. The Best Results Come from Human and AI Collaboration
Organizations achieve their greatest productivity gains when AI augments human work rather than fully automating it. Thirty-four percent of organizations report their greatest productivity improvements in AI-augmented roles, where people and AI collaborate through redesigned workflows, compared with just 8% reporting their strongest gains from fully automated roles. Together, the two reports point to two equally important priorities for organizations navigating AI transformation. Organizations must build integrated talent systems that enable AI while also building the workforce confidence, leadership capability, and trust needed to sustain change. The next phase of AI transformation will be defined less by how quickly organizations deploy AI and more by how effectively they prepare people to work, adapt, and succeed alongside it.
The New Talent Equation: Activating Workforce Confidence at Scale is available now at mpgtalentsolutions.com/the-new-talent-equation, along with the first report in the series, The New Talent Equation: Building Better Talent Decisions.
ABOUT MANPOWERGROUP TALENT SOLUTIONS
Talent Solutions combines RPO, TAPFIN-MSP, and Right Management to deliver end-to-end, data-driven capabilities across the talent lifecycle. Drawing on deep industry expertise and a genuine understanding of what talent wants, we help organizations address complex workforce needs, from attraction and acquisition to upskilling, development, and retention. Through seamless delivery, best-in-class technology, and extensive workforce insights, we serve clients across multiple countries and at scale. Talent Solutions is part of the ManpowerGroup® (NYSE: MAN) family of brands, which also includes Manpower and Experis.
For more information, visit www.mpgtalentsolutions.com, or follow us on LinkedIn.
Chicago Partners Investment Group LLC bought a new stake in ManpowerGroup Inc. (NYSE:MAN – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,679 shares of the business services provider’s stock, valued at approximately $495,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new stake in shares of ManpowerGroup in the third quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new position in ManpowerGroup during the 3rd quarter worth about $30,000. Fifth Third Bancorp lifted its stake in ManpowerGroup by 637.7% during the 4th quarter. Fifth Third Bancorp now owns 1,114 shares of the business services provider’s stock worth $33,000 after acquiring an additional 963 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in ManpowerGroup by 320.8% during the 4th quarter. Hantz Financial Services Inc. now owns 1,376 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 1,049 shares during the period. Finally, Allworth Financial LP boosted its holdings in ManpowerGroup by 69.3% during the 3rd quarter. Allworth Financial LP now owns 1,121 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 459 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.
Key Stories Impacting ManpowerGroup Here are the key news stories impacting ManpowerGroup this week:
Positive Sentiment: ManpowerGroup reported Q2 EPS of $0.99, topping estimates of $0.96, while revenue of about $4.86 billion also beat expectations. Results improved year over year, helped by stronger demand across multiple regions and tighter cost control. ManpowerGroup Reports 2nd Quarter 2026 Results Positive Sentiment: The company guided Q3 EPS to $0.96-$1.06, which brackets or slightly exceeds Street expectations, reinforcing confidence that recent operating momentum can continue. ManpowerGroup forecasts Q3 EPS of $0.96-$1.06 as it targets $200M in 2028 cost savings Positive Sentiment: Analysts raised price targets after the beat, including Robert W. Baird boosting its target to $72 from $45 and maintaining an outperform rating, signaling improved Wall Street sentiment. ManpowerGroup Analysts Boost Their Forecasts After Strong Q2 Results Neutral Sentiment: Truist also raised its target to $50 from $34 but kept a hold rating, suggesting the stock may be fairly valued after the rally even as expectations improve. Benzinga/The Fly report on Truist price target update Wall Street Analyst Weigh In Several research firms have weighed in on MAN. Wall Street Zen downgraded ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. The Goldman Sachs Group increased their price target on shares of ManpowerGroup from $36.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday. Robert W. Baird raised their price objective on shares of ManpowerGroup from $45.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday. Barclays dropped their price objective on shares of ManpowerGroup from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, April 13th. Finally, Truist Financial upped their target price on shares of ManpowerGroup from $34.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ManpowerGroup currently has an average rating of “Hold” and a consensus price target of $51.38.
Get Our Latest Research Report on ManpowerGroup
ManpowerGroup Trading Up 1.3% NYSE:MAN opened at $52.31 on Friday. The firm has a market cap of $2.43 billion, a PE ratio of 23.78 and a beta of 0.73. The stock has a fifty day moving average price of $33.71 and a 200 day moving average price of $31.12. ManpowerGroup Inc. has a 12-month low of $25.15 and a 12-month high of $55.70. The company has a current ratio of 1.04, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.
ManpowerGroup (NYSE:MAN – Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The business services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.03. ManpowerGroup had a return on equity of 7.45% and a net margin of 0.56%.The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the business earned ($1.44) EPS. ManpowerGroup has set its Q3 2026 guidance at 0.960-1.060 EPS. Sell-side analysts anticipate that ManpowerGroup Inc. will post 3.66 earnings per share for the current fiscal year.
ManpowerGroup Dividend Announcement The business also recently disclosed a dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a dividend yield of 437.0%. ManpowerGroup’s payout ratio is currently -389.19%.
ManpowerGroup Company Profile (Free Report)
ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.
The company’s service offerings are organized into four principal brands.
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Key Takeaways ManpowerGroup topped Q2 earnings and revenue estimates on stronger demand and broad regional growth.MAN improved operating profit through lower costs and targets $200M in permanent savings by 2028.ManpowerGroup expects Q3 revenue growth of 2%-6% and adjusted EPS of 96 cents to $1.06. ManpowerGroup (MAN - Free Report) reported impressive second-quarter 2026 results, with earnings and revenues beating the respective Zacks Consensus Estimate.
MAN’s adjusted earnings (excluding 14 cents from non-recurring items) were 99 cents per share, which surpassed the Zacks Consensus Estimate by 3.1% and increased 26.9% year over year, driven by improving demand, disciplined cost management and strong execution across key markets.
Revenues were $4.86 billion, which topped the Consensus Estimate by 3.8% and rose 7.5% year over year (5.8% in constant currency). Strong growth in the United States, Latin America and select European markets supported top-line performance.
MAN Benefits From Broad-Based Regional GrowthRevenues from the Americas climbed 14.4% year over year to $1.21 billion, ahead of growth across the company's other geographic segments. The United States generated revenues of $714.3 million, up 6%, while Other Americas revenues increased 29% to $498 million.
Southern Europe remained the largest contributor, with revenues increasing 7.4% to $2.31 billion. France posted revenues of $1.18 billion, up 2.5%, while Italy contributed $521.9 million, rising 9.6%. Other Southern Europe revenues advanced 16.2% to $609.2 million.
Northern Europe revenues improved 3.9% to $825.5 million. Asia-Pacific Middle East revenues declined 1.2% on a reported basis to $518.7 million but increased 5% in constant currency. Intercompany eliminations narrowed to a loss of $5 million from $9.7 million a year earlier.
Manpower Shows Improving Brand MomentumManagement highlighted continued strength across its portfolio, led by the Manpower brand, whose organic constant-currency revenues increased 8% year over year, marking its fifth consecutive quarter of growth. Demand remained robust across manufacturing, automotive, aerospace, logistics and retail, while U.S. sales activity continued to strengthen.
Experis posted an organic constant-currency revenue decline of 2%, a marked improvement from the 9% decline in the first quarter, supported by stronger demand for cloud migration, application development, data and AI services. Talent Solutions' revenues were flat year over year after declining 1% in the previous quarter as recruitment process outsourcing trends strengthened and managed service provider demand remained solid.
MAN Expands Profitability Through Cost DisciplineGross profit increased 2.2% year over year to $780.3 million, while gross margin contracted 80 basis points to 16.1%, reflecting changes in business mix and the sale of the higher-margin Jefferson Wells U.S. business.
Selling and administrative expenses declined 15.3% year over year to $668.3 million. Operating profit improved to $112 million from an operating loss of $25.3 million in the prior-year quarter. The company continued executing its strategic transformation program, which is expected to deliver $200 million in permanent cost savings by 2028, while advancing AI initiatives to improve productivity and create new commercial opportunities.
ManpowerGroup's Balance Sheet & Cash FlowManpowerGroup ended the quarter with cash and cash equivalents of $180.6 million compared with $871 million at 2025-end. Long-term debt declined to $567.3 million from $1.05 billion at the end of December 2025 following debt repayment.
Free cash flow represented an outflow of $9 million in the quarter, a significant improvement from the $207 million outflow recorded a year earlier. Capital expenditures totaled $6 million and the company did not repurchase any shares during the quarter.
MAN Guides for Q3 2026Management expects third-quarter 2026 adjusted earnings per share in the range of 96 cents to $1.06. The Zacks Consensus Estimate for earnings per share is pegged at 96 cents. The outlook includes an estimated unfavorable currency impact of 2 cents per share and assumes a 44% effective tax rate.
For the third quarter, revenues are projected to increase in the range of 2%-6% year over year on a reported basis, or 3%-7% in constant currency. Gross margin is expected to be between 15.9% and 16.1%, while adjusted EBITA margin is projected in the range of 2.1%-2.3%.
Currently, ManpowerGroup carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to ConsiderA couple of better-ranked stocks in the broader Zacks Business Services sector are Veralto Corporation (VLTO - Free Report) and Thomson Reuters (TRI - Free Report) .
Veralto Corporation carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 8.4%. VLTO delivered a trailing four-quarter earnings surprise of 4.9% on average.
Thomson Reuters also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 15.1%. TRI's earnings beat estimates in each of the trailing four quarters, with an average surprise of 3.1%.
U.S. stocks were lower, with the Nasdaq Composite falling around 400 points on Friday.
Adjusted earnings were 99 cents per share, topping analysts’ consensus estimate of 95 cents. Revenue rose 8% year over year to $4.86 billion, or 6% in constant currency, exceeding estimates of $4.72 billion.
ManpowerGroup shares jumped 5.8% to $54.63 on Friday.
Here are some other big stocks recording gains in today’s session.
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ManpowerGroup Inc. (NYSE:MAN) on Thursday reported upbeat second-quarter results and issued third-quarter earnings guidance above expectations.
Adjusted earnings were 99 cents per share, topping analysts’ consensus estimate of 95 cents. Revenue rose 8% year over year to $4.86 billion, or 6% in constant currency, exceeding estimates of $4.72 billion.
For the third quarter, ManpowerGroup forecast diluted earnings of 96 cents to $1.06 per share, including an estimated 2-cent unfavorable currency impact. The guidance compares with analysts’ consensus estimate of 88 cents per share. The company expects approximately 6% organic, days-adjusted constant-currency revenue growth and an effective tax rate of about 44%.
ManpowerGroup shares jumped 32.4% to close at $51.65 on Thursday.
These analysts made changes to their price targets on ManpowerGroup following earnings announcement.
Baird analyst Mark Marcon maintained the stock with an Outperform rating and raised the price target from $45 to $72. UBS analyst Joshua Chan maintained the stock with a Neutral and raised the price target from $41 to $55. Considering buying MAN stock? Here’s what analysts think:
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Market News and Data brought to you by Benzinga APIs
ManpowerGroup (MAN - Free Report) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +3.13%. A quarter ago, it was expected that this staffing company would post earnings of $0.5 per share when it actually produced earnings of $0.51, delivering a surprise of +2%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Manpower, which belongs to the Zacks Staffing Firms industry, posted revenues of $4.86 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.76%. This compares to year-ago revenues of $4.52 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Manpower shares have added about 31.3% since the beginning of the year versus the S&P 500's gain of 10.6%.
What's Next for Manpower?While Manpower has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Manpower was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.04 on $4.75 billion in revenues for the coming quarter and $3.66 on $18.78 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Staffing Firms is currently in the bottom 21% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
TrueBlue (TBI - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.
This blue-collar temporary staffing company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of -42.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
TrueBlue's revenues are expected to be $416.16 million, up 5% from the year-ago quarter.
MarketBeat Week in Review – 06/29 - 07/03ManpowerGroup NYSE: MAN reported stronger-than-expected second-quarter 2026 revenue and said improving demand across several markets helped drive organic growth, led by its core Manpower staffing business.
Chair and CEO Jonas Prising said the company delivered “strong results with revenues ahead of expectations,” citing growing client demand, cost discipline and progress on its transformation strategy. Reported revenue was $4.9 billion, while system-wide revenue, including franchises, was $5.3 billion. Revenue increased 6% in constant currency.
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Manchester United’s Stock Rally Faces a Test Beyond Old TraffordAdjusted EBITDA was $103 million, up 15% in constant currency from the prior-year period. Adjusted EBITDA margin was 2.1%, up 10 basis points year over year. Reported earnings per share were $1.13, while adjusted EPS was $0.99, above the company’s guidance midpoint.
Manpower Brand Leads Growth Prising said the Manpower brand delivered its fifth consecutive quarter of growth, with revenue up 8% in constant currency. He pointed to stronger demand in manufacturing, automotive, aerospace, logistics and retail.
High-Yielding ManpowerGroup Inc. Goes On SaleThe U.S. Manpower business was a standout, with revenue rising 16% on a days-adjusted basis during the quarter. CFO Jack McGinnis said that represented “strong market performance” and marked eight consecutive quarters of growth for the brand in the U.S.
During the question-and-answer portion of the call, McGinnis said U.S. revenue trends strengthened as the quarter progressed. France, by contrast, was stable throughout the quarter, while Italy remained strong and Japan was steady.
President and Chief Strategy Officer Becky Frankiewicz said demand in the U.S. Manpower business has improved, while the company has also become better at targeting areas of growth. She cited manufacturing, consumer goods, retail, aerospace and logistics as areas of strength.
Experis, the company’s technology resourcing and services business, declined 2% on an organic constant currency basis, improving from a 9% decline in the first quarter. Talent Solutions was flat year over year, also an improvement from the first quarter. Within Talent Solutions, McGinnis said RPO showed sequential improvement, MSP continued to grow, and Right Management declined slightly due to lower outplacement activity.
Regional Results Show Broad Improvement The Americas segment generated $1.2 billion in revenue, up 14% year over year on an organic constant currency basis. Adjusted operating unit profit was $45 million, with a 3.7% margin. The U.S., which represented 59% of Americas revenue, posted revenue of $714 million, up 8% on an organic days-adjusted basis.
Southern Europe revenue was $2.3 billion, up 4% in constant currency. France revenue was $1.2 billion and was flat in constant currency, while Italy revenue rose 6% on a days-adjusted constant currency basis to $522 million.
Northern Europe revenue was $825 million, up 2% on an organic constant currency basis. McGinnis said the region was profitable in the quarter, with operating unit profit of $2 million, reflecting improvement from actions taken in previous quarters. The U.K. returned to growth, with revenue up 2% on a days-adjusted constant currency basis.
Asia-Pacific Middle East revenue was $519 million, up 5% in constant currency. Japan, the largest market in the segment, grew 4% on a days-adjusted constant currency basis.
Gross Margin Stable Despite Mix Shifts Gross profit margin was 16.1% in the second quarter. McGinnis said staffing margin declined 60 basis points year over year, primarily due to business mix shifts, but improved from the 70-basis-point decline recorded in the first quarter. He also noted the sale of the higher-margin Jefferson Wells U.S. business affected staffing margin.
During the Q&A session, McGinnis said pricing remained “rational” and “very stable,” and said the company remained disciplined on pricing. He added that the company is seeing early signs of improvement in contingent demand in the U.S., particularly among smaller and midsize customers.
Permanent recruitment activity resulted in a 10-basis-point gross margin decline, but McGinnis said permanent recruitment crossed over to flat in the quarter overall. He said permanent recruitment represented 15.3% of gross profit in the quarter, roughly in line with the prior year.
Transformation Program and AI Initiatives Advance Prising said ManpowerGroup is making progress on its global strategic transformation program, which is expected to deliver $200 million in permanent cost savings in 2028. The company continues to expect restructuring and strategic transformation charges to average $10 million to $15 million per quarter through the end of the year.
The company also completed the sale of the Jefferson Wells U.S. business during the second quarter. Prising described the sale as part of a broader effort to prioritize investment and management attention on core, higher-return opportunities.
Frankiewicz said ManpowerGroup is using AI in two main areas: improving internal effectiveness and creating new commercial opportunities. She said AI-based sales tools are being used in many of the company’s largest markets and are on track to scale to nearly 70% of revenue by year-end.
The company is also expanding AI-powered screening and interviewing tools. Frankiewicz said those tools are on track to scale to 70% of revenue by year-end and are helping improve fill rates and time to hire. In response to an analyst question, she said early-in-the-funnel interview tools have produced a 67% decrease in time to fill after nine months of use.
Frankiewicz also highlighted partnerships with SoundHound AI and IBM watsonx Orchestrate. She said the company has begun converting SoundHound-related opportunities into customer engagements, with traction among healthcare clients. She also said Experis is working with IBM on Accelerate Workflow, which combines AI technology implementation, workforce transformation and specialized talent.
In the Q&A, Frankiewicz said partnership-driven revenue is expected to be between $50 million and $100 million this year, with nearly 100 qualified leads in the pipeline.
Third-Quarter Guidance Calls for Continued Growth For the third quarter of 2026, ManpowerGroup forecast EPS of $0.96 to $1.06, including an unfavorable foreign currency impact of $0.02 per share. The company expects organic days-adjusted constant currency revenue growth of 6% at the midpoint, continuing the second-quarter growth rate.
Gross profit margin is expected to be about 16% at the midpoint, reflecting the full-quarter impact of the Jefferson Wells disposition and current business mix. EBITDA margin is projected to rise 10 basis points year over year at the midpoint.
Prising said the company is encouraged by its second-quarter performance and expects momentum to continue in the second half of the year. He said commercial execution, improving demand and cost management are helping drive operating leverage and profitability.
About ManpowerGroup NYSE: MANManpowerGroup NYSE: MAN is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.
The company's service offerings are organized into four principal brands.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in ManpowerGroup Right Now?Before you consider ManpowerGroup, you'll want to hear this.
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For the quarter ended June 2026, ManpowerGroup (MAN - Free Report) reported revenue of $4.86 billion, up 7.5% over the same period last year. EPS came in at $0.99, compared to $0.78 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.68 billion, representing a surprise of +3.76%. The company delivered an EPS surprise of +3.13%, with the consensus EPS estimate being $0.96.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Manpower performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues from Services- Northern Europe: $825.5 million compared to the $791.7 million average estimate based on three analysts. The reported number represents a change of +3.9% year over year.Revenues from Services- Southern Europe: $2.31 billion compared to the $2.26 billion average estimate based on three analysts. The reported number represents a change of +7.4% year over year.Revenues from Services- Americas: $1.21 billion compared to the $1.14 billion average estimate based on three analysts. The reported number represents a change of +14.4% year over year.Revenues from Services- APME: $518.7 million compared to the $526.4 million average estimate based on three analysts. The reported number represents a change of -1.3% year over year.Revenues from Services- Southern Europe- Other Southern Europe: $609.2 million versus $549.02 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +16.2% change.Revenues from Services- Southern Europe- France: $1.18 billion compared to the $1.21 billion average estimate based on two analysts. The reported number represents a change of +2.5% year over year.Revenues from Services- Americas- Other Americas: $498 million versus the two-analyst average estimate of $458.06 million. The reported number represents a year-over-year change of +29.1%.Revenues from Services- Americas- United States: $714.3 million versus $675.28 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6% change.Revenues from Services- Southern Europe- Italy: $521.9 million versus $505.07 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +9.7% change.Revenues from Services- Intercompany Eliminations: $-5 million compared to the $-7.11 million average estimate based on two analysts. The reported number represents a change of -48.5% year over year.Operating Unit Profit- Corporate expenses: $-53.9 million versus $-41.39 million estimated by two analysts on average.View all Key Company Metrics for Manpower here>>>
Shares of Manpower have returned +13.8% over the past month versus the Zacks S&P 500 composite's +0.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Revenues of $4.9 billion (+8% as reported, +6% constant currency) Strong demand in United States, Latin America, APME and in select European countries including Italy, Spain, Poland and Norway Manpower had very strong revenue growth in the quarter. Experis revenue trends improved from previous quarters driven by the United States. Talent Solutions revenue trends also improved sequentially driven by RPO with ongoing solid MSP growth. Gross Profit growth combined with SG&A reductions generated meaningful growth in profitability year over year Sale of Jefferson Wells U.S. business for $100 million generating net cash proceeds of $88 million , /PRNewswire/ -- ManpowerGroup (NYSE: MAN) today reported net earnings of $1.13 per diluted share for the three months ended June 30, 2026 compared to net losses of $1.44 per diluted share in the prior year period. Net earnings in the quarter were $53.5 million compared to net losses of $67.1 million a year earlier. Revenues for the second quarter were $4.9 billion, an 8% increase from the prior year period.
The current year quarter included the sale of our Jefferson Wells U.S. business, strategic transformation program costs, restructuring costs, and a discontinued business liquidation charge which, in aggregate, positively impacted earnings per share by $0.14 in the second quarter. Excluding these items, earnings per share was $0.99 per diluted share in the quarter representing an increase of 27% in constant currency in the second quarter of 2026.1
Financial results in the quarter were also impacted by the U.S. dollar relative to foreign currencies compared to the prior year period. On a constant currency basis, revenues increased 6% compared to the prior year period.
Jonas Prising, ManpowerGroup Chair & CEO, said, "In the second quarter we delivered strong results with revenues ahead of expectations. Results reflect good execution across our brands and markets, continued cost discipline and improving demand. We are leveraging our scale and diversified platform and focusing commercial efforts on verticals that offer the greatest opportunities to win and capture share. We saw very strong growth in our Manpower brand and improving trends across Experis and Talent Solutions.
Throughout the quarter, we advanced our global strategic transformation program and expanded AI capabilities that improve productivity and unlock new higher-value solutions through critical strategic partnerships. Looking ahead, we maintain our view that 2026 represents an important inflection point for ManpowerGroup as we execute our transformation strategy and position the business for long-term durable profitable growth."
We anticipate diluted earnings per share in the third quarter will be between $0.96 and $1.06, which includes an estimated unfavorable currency impact of 2 cents and a 44% effective tax rate."
In conjunction with its second quarter earnings release, ManpowerGroup will broadcast its conference call live over the internet on July 16, 2026 at 7:30 a.m. Central time (8:30 a.m. Eastern time). Prepared remarks for the conference call, webcast details, presentation and recordings are included within the Investor Relations section of manpowergroup.com.
Supplemental financial information referenced in the conference call can be found at http://investor.manpowergroup.com/.
____________________
1
The prior year period included various adjustments which reduced earnings per share by $2.22 in the second quarter which are also excluded when determining the year over year adjusted trend.
About ManpowerGroup
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2026 ManpowerGroup was named one of the World's Most Ethical Companies for the 17th time – all confirming our position as the brand of choice for in-demand talent. For more information, visit www.manpowergroup.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, including statements regarding trends in labor demand and the future strengthening of such demand, the Company's financial outlook, and the Company's strategic initiatives and technology investments, including our ability to increase market share and the acceleration of transformation initiatives to remove structural costs from the organization to drive efficiencies, which are subject to risks and uncertainties. The Company's actual results may differ materially from those described or contemplated in the forward-looking statements due to numerous factors. These factors include those found in the Company's reports filed with the SEC, including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2025, which information is incorporated herein by reference.
We caution that any forward-looking statement reflects only our belief at the time the statement is made. The Company assumes no obligation to update or revise any forward-looking statements. We reference certain non-GAAP financial measures, which we believe provide useful information for investors. We include a reconciliation of these measures, where appropriate, to GAAP on the Investor Relations section of our website at manpowergroup.com.
ManpowerGroup
Results of Operations
(In millions, except per share data)
Three Months Ended June 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from services (a)
$
4,860.2
$
4,519.3
7.5
%
5.8
%
Cost of services
4,079.9
3,755.6
8.6
%
6.8
%
Gross profit
780.3
763.7
2.2
%
0.7
%
Selling and administrative expenses,
excluding impairment charges
668.3
700.3
-4.6
%
-6.0
%
Impairment charges (b)
—
88.7
N/A
N/A
Selling and administrative expenses
668.3
789.0
-15.3
%
-16.6
%
Operating profit (loss)
112.0
(25.3)
N/A
N/A
Interest and other expenses, net
19.6
16.5
18.1
%
Earnings (loss) before income taxes
92.4
(41.8)
N/A
N/A
Provision for income taxes
38.9
25.3
54.2
%
Net earnings (loss)
$
53.5
$
(67.1)
N/A
N/A
Net earnings (loss) per share - basic
$
1.14
$
(1.44)
N/A
Net earnings (loss) per share - diluted
$
1.13
$
(1.44)
N/A
N/A
Weighted average shares - basic
46.9
46.5
0.8
%
Weighted average shares - diluted
47.4
46.5
2.0
%
(a)
Revenues from services include fees received from our franchise offices of $4.5 million and $4.4 million for the three months ended June 30, 2026 and 2025, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $471.4 million and $428.7 million for the three months ended June 30, 2026 and 2025, respectively.
(b)
Impairment charges for the three months ended June 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
ManpowerGroup
Operating Unit Results
(In millions)
Three Months Ended June 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from Services:
Americas:
United States (a)
$
714.3
$
674.1
6.0
%
6.0
%
Other Americas
498.0
385.9
29.0
%
23.8
%
1,212.3
1,060.0
14.4
%
12.5
%
Southern Europe:
France
1,177.6
1,149.3
2.5
%
0.0
%
Italy
521.9
475.9
9.6
%
7.0
%
Other Southern Europe
609.2
524.1
16.2
%
9.9
%
2,308.7
2,149.3
7.4
%
4.0
%
Northern Europe
825.5
794.4
3.9
%
1.4
%
APME
518.7
525.3
-1.2
%
5.0
%
4,865.2
4,529.0
Intercompany Eliminations
(5.0)
(9.7)
$
4,860.2
$
4,519.3
7.5
%
5.8
%
Operating Unit Profit (Loss):
Americas:
United States
$
52.8
$
19.7
169.1
%
169.1
%
Other Americas
19.1
16.4
15.5
%
11.8
%
71.9
36.1
99.0
%
97.3
%
Southern Europe:
France
28.4
32.3
-12.0
%
-13.9
%
Italy
34.1
31.8
7.1
%
4.5
%
Other Southern Europe
12.6
9.2
38.1
%
25.0
%
75.1
73.3
2.5
%
-1.0
%
Northern Europe
2.0
(9.0)
N/A
N/A
APME
23.9
26.4
-9.0
%
0.2
%
172.9
126.8
Corporate expenses
(53.9)
(55.1)
Impairment charges (b)
—
(88.7)
Intangible asset amortization expense
(7.0)
(8.3)
Operating profit (loss)
112.0
(25.3)
N/A
N/A
Interest and other expenses, net (c)
(19.6)
(16.5)
Earnings (loss) before income taxes
$
92.4
$
(41.8)
(a)
In the United States, revenues from services include fees received from our franchise offices of $2.7 million and $2.6 million for the three months ended June 30, 2026 and 2025, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $93.5 million and $87.1 million for the three months ended June 30, 2026 and 2025, respectively.
(b)
Impairment charges for the three months ended June 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
(c)
The components of interest and other expenses, net were:
2026
2025
Interest expense
$
23.8
$
26.0
Interest income
(4.8)
(8.2)
Foreign exchange loss
1.7
1.3
Miscellaneous income, net
(1.1)
(2.6)
$
19.6
$
16.5
ManpowerGroup
Results of Operations
(In millions, except per share data)
Six Months Ended June 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from services (a)
$
9,370.6
$
8,609.6
8.8
%
4.4
%
Cost of services
7,867.3
7,147.6
10.1
%
5.5
%
Gross profit
1,503.3
1,462.0
2.8
%
-1.0
%
Selling and administrative expenses,
excluding impairment charges
1,363.0
1,370.4
-0.5
%
-4.1
%
Impairment charges (b)
—
88.7
N/A
N/A
Selling and administrative expenses
1,363.0
1,459.1
-6.6
%
-10.0
%
Operating profit
140.3
2.9
4702.9
%
4487.8
%
Interest and other expenses, net
32.5
28.0
16.1
%
Earnings (loss) before income taxes
107.8
(25.1)
N/A
N/A
Provision for income taxes
51.8
36.4
42.2
%
Net earnings (loss)
$
56.0
$
(61.5)
N/A
N/A
Net earnings (loss) per share - basic
$
1.20
$
(1.32)
N/A
Net earnings (loss) per share - diluted
$
1.19
$
(1.32)
N/A
N/A
Weighted average shares - basic
46.8
46.7
0.2
%
Weighted average shares - diluted
47.2
46.7
1.2
%
(a)
Revenues from services include fees received from our franchise offices of $8.3 million and $8.2 million for the six months ended June 30, 2026 and 2025, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $925.7 million and $847.1 million for the six months ended June 30, 2026 and 2025, respectively.
(b)
Impairment charges for the six months ended June 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
ManpowerGroup
Operating Unit Results
(In millions)
Six Months Ended June 30
% Variance
Amount
Constant
2026
2025
Reported
Currency
(Unaudited)
Revenues from Services:
Americas:
United States (a)
$
1,369.2
$
1,362.9
0.5
%
0.5
%
Other Americas
958.7
753.8
27.2
%
21.6
%
2,327.9
2,116.7
10.0
%
8.0
%
Southern Europe:
France
2,246.2
2,115.0
6.2
%
-0.1
%
Italy
996.6
873.7
14.1
%
7.2
%
Other Southern Europe
1,167.2
994.6
17.4
%
8.1
%
4,410.0
3,983.3
10.7
%
3.5
%
Northern Europe
1,615.6
1,525.2
5.9
%
-0.1
%
APME
1,029.2
1,001.7
2.8
%
6.5
%
9,382.7
8,626.9
Intercompany Eliminations
(12.1)
(17.3)
9,370.6
8,609.6
8.8
%
4.4
%
Operating Unit Profit (Loss):
Americas:
United States
$
54.9
$
31.0
77.2
%
77.2
%
Other Americas
36.1
30.6
18.0
%
13.0
%
91.0
61.6
47.8
%
45.3
%
Southern Europe:
France
45.5
53.3
-14.6
%
-18.3
%
Italy
62.8
56.4
11.2
%
4.9
%
Other Southern Europe
21.0
13.8
53.1
%
37.9
%
129.3
123.5
4.8
%
-1.4
%
Northern Europe
(6.2)
(27.3)
77.2
%
82.4
%
APME
45.6
46.4
-1.8
%
5.1
%
259.7
204.2
Corporate expenses
(105.4)
(96.2)
Impairment charges (b)
—
(88.7)
Intangible asset amortization expense
(14.0)
(16.4)
Operating profit
140.3
2.9
4702.9
%
4487.8
%
Interest and other expenses, net (c)
(32.5)
(28.0)
Earnings (loss) before income taxes
$
107.8
$
(25.1)
(a)
In the United States, revenues from services include fees received from our franchise offices of $5.1 million and $4.8 million for the six months ended June 30, 2026 and 2025, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $171.9 million and $164.0 million for the six months ended June 30, 2026 and 2025, respectively.
(b)
Impairment charges for the six months ended June 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
(c)
The components of interest and other expenses, net were:
2026
2025
Interest expense
$
49.5
$
48.5
Interest income
(10.9)
(15.1)
Foreign exchange loss
2.3
2.2
Miscellaneous income, net
(8.4)
(7.6)
$
32.5
$
28.0
ManpowerGroup
Consolidated Balance Sheets
(In millions)
June 30,
December 31,
2026
2025
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents
$
180.6
$
871.0
Accounts receivable, net
4,733.8
4,770.3
Prepaid expenses and other assets
217.0
149.1
Total current assets
5,131.4
5,790.4
Other assets:
Goodwill
1,483.4
1,544.6
Intangible assets, net
415.7
430.1
Operating lease right-of-use assets
360.8
392.7
Other assets
868.5
879.1
Total other assets
3,128.4
3,246.5
Property and equipment:
Land, buildings, leasehold improvements and equipment
522.0
526.9
Less: accumulated depreciation and amortization
406.9
403.7
Net property and equipment
115.1
123.2
Total assets
$
8,374.9
$
9,160.1
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
2,593.7
$
2,721.1
Employee compensation payable
216.3
232.3
Accrued payroll taxes and insurance
668.8
672.1
Accrued liabilities
452.1
457.6
Value added taxes payable
410.1
418.1
Short-term operating lease liability
102.2
107.4
Short-term borrowings and current maturities of long-term debt
476.2
625.0
Total current liabilities
4,919.4
5,233.6
Other liabilities:
Long-term debt
567.3
1,052.1
Long-term operating lease liability
274.3
304.3
Other long-term liabilities
507.5
509.8
Total other liabilities
1,349.1
1,866.2
Shareholders' equity:
ManpowerGroup shareholders' equity
Common stock
1.2
1.2
Capital in excess of par value
3,585.8
3,572.5
Retained earnings
3,754.8
3,732.3
Accumulated other comprehensive loss
(399.1)
(412.1)
Treasury stock, at cost
(4,836.4)
(4,834.3)
Total ManpowerGroup shareholders' equity
2,106.3
2,059.6
Noncontrolling interests
0.1
0.7
Total shareholders' equity
2,106.4
2,060.3
Total liabilities and shareholders' equity
$
8,374.9
$
9,160.1
ManpowerGroup
Consolidated Statements of Cash Flows
(In millions)
Six Months Ended
June 30,
2026
2025
(Unaudited)
Cash Flows from Operating Activities:
Net earnings (Loss)
$
56.0
$
(61.5)
Adjustments to reconcile net earnings to net cash used in operating activities:
Depreciation and amortization
41.7
43.4
(Gain) Loss on sales of subsidiaries, net
(24.5)
6.2
Non-cash impairment of goodwill and other intangible assets
—
88.7
Deferred income taxes
9.3
4.5
Provision for credit losses
5.4
1.9
Share-based compensation
13.6
15.3
Changes in operating assets and liabilities:
Accounts receivable
(49.2)
7.9
Other assets
(91.9)
(92.4)
Accounts payable
(89.9)
(209.6)
Other liabilities
0.5
(147.2)
Cash used in operating activities
(129.0)
(342.8)
Cash Flows from Investing Activities:
Capital expenditures
(14.8)
(31.3)
Acquisition of businesses, net of cash acquired
—
(1.0)
Impact to cash resulting from sales of subsidiaries
87.5
(2.1)
Proceeds from the sale of property and equipment
0.7
0.4
Cash provided by (used in) investing activities
73.4
(34.0)
Cash Flows from Financing Activities:
Net change in short-term borrowings
(16.9)
67.1
Net proceeds from revolving debt facility
—
136.0
Proceeds from long-term debt
3.3
0.1
Repayments of long-term debt
(585.8)
(0.4)
Payments of contingent consideration for acquisition
Wall Street analysts expect ManpowerGroup (MAN - Free Report) to post quarterly earnings of $0.96 per share in its upcoming report, which indicates a year-over-year increase of 23.1%. Revenues are expected to be $4.68 billion, up 3.7% from the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Manpower metrics that are commonly tracked and projected by analysts on Wall Street.
The combined assessment of analysts suggests that 'Revenues from Services- Americas' will likely reach $1.14 billion. The estimate points to a change of +7.5% from the year-ago quarter.
It is projected by analysts that the 'Revenues from Services- APME' will reach $526.40 million. The estimate indicates a change of +0.2% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenues from Services- Southern Europe' of $2.26 billion. The estimate suggests a change of +5.3% year over year.
According to the collective judgment of analysts, 'Revenues from Services- Northern Europe' should come in at $791.70 million. The estimate indicates a year-over-year change of -0.3%.
Analysts forecast 'Revenues from Services- Southern Europe- Other Southern Europe' to reach $549.02 million. The estimate suggests a change of +4.8% year over year.
The consensus estimate for 'Revenues from Services- Southern Europe- France' stands at $1.21 billion. The estimate points to a change of +4.9% from the year-ago quarter.
The average prediction of analysts places 'Revenues from Services- Americas- United States' at $675.28 million. The estimate indicates a change of +0.2% from the prior-year quarter.
Analysts' assessment points toward 'Revenues from Services- Americas- Other Americas' reaching $458.06 million. The estimate indicates a year-over-year change of +18.7%.
The consensus among analysts is that 'Revenues from Services- Southern Europe- Italy' will reach $505.07 million. The estimate indicates a change of +6.1% from the prior-year quarter.
Analysts predict that the 'Operating Unit Profit- Americas' will reach $38.40 million. The estimate compares to the year-ago value of $36.10 million.
Based on the collective assessment of analysts, 'Operating Unit Profit- APME' should arrive at $26.18 million. The estimate compares to the year-ago value of $26.40 million.
Analysts expect 'Operating Unit Profit- Southern Europe' to come in at $82.05 million. The estimate is in contrast to the year-ago figure of $73.30 million.
View all Key Company Metrics for Manpower here>>>
Over the past month, shares of Manpower have returned +13.9% versus the Zacks S&P 500 composite's +4.3% change. Currently, MAN carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
ManpowerGroup Inc. (NYSE:MAN) will release its second quarter earnings report before the opening bell on Thursday, July 16.
Analysts expect the Milwaukee, Wisconsin-based company to report quarterly earnings of 95 cents per share, up from 78 cents per share in the year-ago period. The consensus estimate for ManpowerGroup’s quarterly revenue is $4.73 billion. It reported $4.52 billion last year, according to Benzinga Pro.
On May 8, ManpowerGroup declared a semi-annual dividend of 72 cents per share.
ManpowerGroup shares fell 1% to close at $37.47 on Thursday.
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