ManpowerGroup (NYSE: MAN) reported Q1 EPS of $0.88, $0.48 worse than the analyst estimate of $1.36. Revenue for the quarter came in at $5.04 billion versus the consensus estimate of $4.98 billion.

• Net earnings of $0.88 per diluted share for the three months ended March 31, 2019 compared to $1.45 per diluted share in the prior year period.
• Net earnings in the quarter were $53.5 million compared to $97.0 million a year earlier.
• Revenues for the first quarter were $5.0 billion, a 9% decline from the prior year period.
• The current year quarter included restructuring costs which reduced earnings per share by 51 cents.
• Financial results in the quarter were also impacted by the stronger U.S. dollar relative to foreign currencies compared to the prior year period.
• On a constant currency basis, revenues decreased 2% and net earnings per diluted share decreased 34%, or 12% excluding the impact of restructuring costs.
• Earnings per share in the quarter were negatively impacted 7 cents by changes in foreign currencies compared to the prior year, or 12 cents excluding the restructuring costs.

Jonas Prising, ManpowerGroup Chairman & CEO, said, "Our global team executed well and delivered solid first quarter results against the backdrop of a slow global growth environment. Demand for our extensive portfolio of workforce solutions and services across our global footprint provides us with good opportunities for profitable growth going forward."

"We anticipate diluted earnings per share in the second quarter will be between $1.96 and $2.04, which includes an estimated unfavorable currency impact of 10 cents."

GUIDANCE:

ManpowerGroup sees Q2 2019 EPS of $1.96-$2.04, versus the consensus of $2.00.

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