ManpowerGroup (NYSE:MAN) posted a net loss for the second quarter on Wednesday, weighed down by an $89 million non-cash goodwill impairment charge, despite steady revenue performance.
For the quarter ending June 30, 2025, the company reported a loss of $1.44 per share, compared to earnings of $1.24 per diluted share in the same period last year. When excluding the impairment charge, restructuring expenses, and losses from business divestitures, adjusted earnings stood at $0.78 per share, slightly missing analyst forecasts of $0.68.
Revenue held steady at $4.52 billion, surpassing analyst expectations of $4.35 billion. However, on a constant currency basis, revenue fell 3%, with organic constant currency revenue down 1%.
“Although demand remains mixed across our global markets as employers adapt to economic and geopolitical volatility, we are beginning to see positive signs of stabilization in the US and parts of Europe,” said Jonas Prising, ManpowerGroup Chair & CEO. “We remain focused on achieving market share gains while we make further adjustments to our cost base.”
The Manpower and Talent Solutions segments returned to revenue growth in the quarter, while Experis faced declines due to sluggish demand in professional staffing. Latin America and Asia Pacific regions continued to demonstrate strong demand, while Europe and North America showed signs of stabilization in several markets.
Looking ahead, ManpowerGroup anticipates third-quarter earnings per share between $0.77 and $0.87, including a projected positive currency effect of 3 cents.
The goodwill impairment charge primarily impacted the company’s operations in Switzerland and the United Kingdom. Gross profit margin slipped slightly to 16.9%, reflecting shifts in business mix compared to the prior quarter.
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