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Revenues of $4.1 billion (-7% as reported, -5% constant currency (CC), -2% organic CC) Latin America and Asia Pacific experienced good demand while Europe and North America continued to operate in a challenging environment during the quarter Gross profit margin of 17.1% reflects solid staffing margins across most major markets and slightly weaker permanent recruitment activity SG&A down year over year with additional restructuring actions taken in the quarter $25 million of common stock repurchased during the quarter MILWAUKEE , April 17, 2025 /PRNewswire/ -- ManpowerGroup (NYSE: MAN ) today reported net earnings of $0.
12 per diluted share for the three months ended March 31, 2025 compared to net earnings of $0.81 per diluted share in the prior year period. Net earnings in the quarter were $5.
6 million compared to net earnings of $39.7 million a year earlier. Revenues for the first quarter were $4.
1 billion , a 7% decrease from the prior year period. The current year quarter included restructuring costs and higher income tax charges. The tax charges resulted from legislation changes enacted in France and country mix updates based on the economic environment.
The restructuring and tax charges reduced earnings per share by $0.32 in the first quarter. Excluding these charges, earnings per share was $0.
44 per diluted share in the quarter representing a decrease of 51% in constant currency. 1 Financial results in the quarter were also impacted by the U.S.
dollar relative to foreign currencies compared to the prior year period. 2 On a constant currency basis, revenues decreased 5% compared to the prior year period and on an organic constant currency basis, revenues decreased 2% compared to the prior year period. Jonas Prising , ManpowerGroup Chair & CEO, said, "During the quarter, we saw good growth in Latin America and Asia Pacific while operating conditions remained challenging in Europe and North America .
More recently, the demand outlook is less clear based on increased caution following trade policy developments. In this uncertain environment, we continue to compete well in the market and remain focused on what we can control, staying close to our clients and candidates and adjusting our cost base to market conditions as needed. We anticipate diluted earnings per share in the second quarter will be between $0.
65 and $0.75 , which includes an estimated favorable currency impact of 3 cents and a 46.5% effective tax rate.
" In conjunction with its first quarter earnings release, ManpowerGroup will broadcast its conference call live over the Internet on April 17, 2025 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/ . 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 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2025 ManpowerGroup was named one of the World's Most Ethical Companies for the 16 th 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 statements, including statements regarding global economic and geopolitical uncertainty, including uncertainty in trade policy announcements, trends in labor demand and the future strengthening of such demand, financial outlook, the outlook for our business in regions in which we operate as well as key countries within those regions, and the Company's strategic initiatives and technology investments, including transformation programs and the positioning of future growth for our brands that are forward-looking in nature and, accordingly, are subject to risks and uncertainties regarding the Company's expected future results.
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, 2024 , which information is incorporated herein by reference. 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.
SOURCE ManpowerGroup.
