Manpower Holds On to 50% More Net Income Than in Q3 2012
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.
The article Manpower Holds On to 50% More Net Income Than in Q3 2012 originally appeared on Fool.com.Fool contributor Caroline Bennett and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.