ManpowerGroup (MAN) Tops Q1 EPS by 4c

ManpowerGroup (NYSE: MAN) reported Q1 EPS of $0.83, $0.04 better than the analyst estimate of $0.79. Revenue for the quarter came in at $4.5 billion versus the consensus estimate of $4.48 billion.

ManpowerGroup sees Q2 2015 EPS of $1.21-$1.29, versus the consensus of $1.27.

Financial results in the quarter were significantly impacted by the stronger US dollar relative to several foreign currencies compared to the prior year period. On a constant currency basis, revenues increased 7% and earnings per share increased 16%. Earnings per share in the quarter were negatively impacted 17 cents by changes in foreign currencies compared to the prior year.

Jonas Prising, ManpowerGroup CEO, said, "2015 is off to a strong start as we built on the progress we made last year delivering good results in the first quarter. It is encouraging to see the early signs of more broad based improvement in Europe, setting the stage for what we believe could be a slow but sustained labor market recovery in that region. The strong start to the year gives us confidence that we are on the right track and that our focus on permanent recruitment and our market leading solutions offerings continues to pay off. We are well placed to seize further opportunities as economic trends improve."

"We anticipate second quarter earnings per share will range between $1.21 to $1.29, which includes an estimated unfavorable currency impact of 29 cents."

For earnings history and earnings-related data on ManpowerGroup (MAN) click here.

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