Workforce solutions provider ManpowerGroup (NYSE:MAN) will be announcing earnings results this Thursday before market open. Here’s what to expect.
ManpowerGroup beat analysts’ revenue expectations by 2.9% last quarter, reporting revenues of $4.09 billion, down 7.1% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS guidance for next quarter estimates and a significant miss of analysts’ EPS estimates.
Is ManpowerGroup a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting ManpowerGroup’s revenue to decline 3.5% year on year to $4.36 billion, improving from the 6.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.69 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ManpowerGroup has missed Wall Street’s revenue estimates four times over the last two years.
Looking at ManpowerGroup’s peers in the professional services segment, only Concentrix has reported results so far. It beat analysts’ revenue estimates by 1.2%, delivering year-on-year sales growth of 1.5%. The stock was down 6.3% on the results.
Read our full analysis of Concentrix’s earnings results here.There has been positive sentiment among investors in the professional services segment, with share prices up 2.5% on average over the last month. ManpowerGroup is up 3% during the same time and is heading into earnings with an average analyst price target of $48.44 (compared to the current share price of $42.33).
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