ManpowerGroup Inc. (NYSE:MAN) reported first-quarter results on Thursday that came in ahead of analyst expectations, with adjusted earnings per share of $0.51 exceeding the $0.49 consensus and revenue of $4.51 billion topping forecasts of $4.41 billion.
Shares of the company rose 1.46% in pre-market trading following the announcement.
Revenue increased 10% year on year on a reported basis and grew 3% in constant currency to approximately $4.5 billion.
On a GAAP basis, net earnings were $0.05 per diluted share, down from $0.12 in the same period last year. However, adjusted earnings of $0.51 per share represented a 3% increase in constant currency terms.
Results for the quarter were impacted by restructuring charges and costs related to the company’s strategic transformation program, which reduced earnings by $0.46 per share.
Growth was driven by strong demand in Asia Pacific and Latin America, while revenue in France remained stable year on year following sequential improvement.
“We delivered solid performance in the quarter driven by disciplined execution and stabilization in demand trends across key markets,” said Jonas Prising, Chair and CEO. “This marks five consecutive quarters of YoY revenue trend improvement.”
The company also introduced an expanded transformation initiative aimed at generating $200 million in recurring cost savings by 2028.
During the quarter, the Manpower segment posted solid growth, while Experis faced softer demand for professional services and Talent Solutions continued to be affected by slower permanent hiring, although the rate of decline moderated.
For the second quarter, ManpowerGroup expects diluted earnings per share in the range of $0.91 to $1.01, including an estimated $0.05 benefit from currency movements.
The midpoint of $0.96 is broadly in line with expectations, although no direct analyst comparison was provided.