| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 4.5K | 10.3% |
| Total Income | 4.5K | 10.3% |
| Expenditure | 4.5K | 10.3% |
| PBT | 15.40 | 7.8% |
| Net Profit | 2.50 | 55.4% |
| OPM | 0.63% | 0.06pp |
| NPM | 0.06% | 0.08pp |
| EPS | 0.05 | 58.3% |
ManpowerGroup Reports Q1 2026 Revenue of $4.5 Billion, Net Earnings Down 55.4%
27 Apr 2026 · 27 Apr, 12:11 pm
Summary
ManpowerGroup reported first quarter 2026 revenues of $4.5 billion, an increase of 10% as reported and 3% in constant currency year-over-year. Despite this revenue growth, net earnings for the quarter declined significantly by 55.4% to $2.5 million, resulting in diluted earnings per share of $0.05, primarily due to $0.46 per share in restructuring and strategic transformation program costs. Excluding these charges, adjusted diluted earnings per share rose 3% in constant currency to $0.51. CEO Jonas Prising highlighted solid performance driven by disciplined execution and stabilizing demand, alongside the launch of an expanded strategic transformation program aimed at delivering $200 million in cost savings by 2028 and advancing the company's AI strategy. The company anticipates second quarter diluted earnings per share to be between $0.91 and $1.01.
Key Highlights
- 1
ManpowerGroup reported first quarter 2026 revenues of $4.5 billion, representing a 10% increase as reported and a 3% increase in constant currency compared to the prior year period.
- 2
Net earnings for the quarter significantly decreased by 55.4% to $2.5 million, down from $5.6 million in the prior year period.
- 3
Diluted earnings per share for Q1 2026 were $0.05, a 55.2% decline from $0.12 in the previous year, primarily due to restructuring and strategic transformation program costs.
- 4
Excluding these charges, adjusted diluted earnings per share for the quarter were $0.51, marking a 3% increase in constant currency.
- 5
The company launched an expanded global strategic transformation program, now projected to deliver $200 million in permanent cost savings by 2028.
- 6
Selling and administrative expenses (SG&A) decreased year-over-year in constant currency, reflecting strong cost management efforts.
- 7
The Manpower brand achieved strong growth during the quarter, while France showed sequential improvement, reaching a flat revenue trend year over year.
Management Comments
Jonas Prising
We delivered solid performance in the quarter driven by disciplined execution and stabilization in demand trends across key markets. This marks five consecutive quarters of year over year revenue trend improvement. We grew our pipeline, saw continued momentum across the portfolio within our Manpower brand, and enhanced operating leverage through reductions in SG&A. Building on this progress and our ongoing transformational efforts, we are taking proactive steps to ensure we are positioned to succeed in any operating environment. This includes launching a strategic transformation program that is intended to not only improve our cost and margin profile, yet also enable ManpowerGroup to gain market share and deliver best-in-class client service. Further, we continue to make significant progress in advancing our AI strategy, including improving the candidate and client experience and bringing new products to market to enhance our competitive position and drive long-term value creation.
Informational and educational content only. Not investment advice.