Manpower Holds On to 50% More Net Income Than in Q3 2012

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Global staffing company Manpower Group announced its Q3 earnings today and unveiled impressive results while weathering significant challenges this quarter. Despite shelling out $8.1 million in restructuring charges, which included severance costs and office consolidations, Manpower brought in $5.18 billion during the past three months, up 0.3% from the same quarter in 2012.

While growth in overall revenue was small, Manpower's earnings per share jumped to $1.18, compared with $0.79 during Q3 2012. In addition, the job-placement company's profit margins rebounded significantly. Manpower's operating profit was $162.4 million, compared with last year's Q2 total of $118 million, while its net income totaled to $94.7 million, a 50% leap from the year prior.

According to Manpower CEO Jeffrey Joerres, the company's impressive Q3 results "were driven by more positive revenue trends and operational leverage achieved through our recalibration efforts," while "our European operations revenue experienced slow but steadily improving trends throughout the quarter."

Manpower's stock price has dropped 3% since its pre-opening earnings release, from $81.52 per share to $78.62.


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