ManpowerGroup Issues Q2 Earnings Guidance

(RTTNews) - ManpowerGroup (MAN) said it expects second-quarter earnings per share to be between $0.65 and $0.75, which includes an estimated favorable currency impact of 3 cents and a 46.5% effective tax rate. Analysts expect the company to report profit per share of $0.99. Analysts' estimates typically exclude special items. Total revenue is projected to decline 1-5%, or down 3-7% CC, or down 1-5% OCC.

ManpowerGroup reported first-quarter net earnings of $5.6 million compared to net earnings of $39.7 million a year earlier. Net earnings per share was $0.12 compared to $0.81. Excluding charges, earnings per share was $0.44, a decrease of 51% in constant currency. Analysts on average expected the company to report profit per share of $0.50, for the quarter. Revenues were $4.1 billion, a 7% decrease from the prior year period. Systemwide revenue was $4.5 billion, for the quarter.

Shares of ManpowerGroup are down 9% in pre-market trade on Thursday.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.