ManpowerGroup (NYSE:MAN) unwinded its third quarter earnings results on Tuesday 20th October 2020 before market open.
ManpowerGroup unwinded quarterly income of $ 0.18 per share, from the revenue of $ 4,584.80 million. On adjusted basis, the firm reported income for the quarter of $ 1.20 per share.
The current year quarter included restructuring costs and other special items consisting of a discrete tax item and a loss on dispositions. The restructuring costs and other special items reduced earnings per share by $ 1.02 in the current quarter.
The consensus estimate are $ 0.62 income per share from revenues of $ 4273.63 million.
The third quarter financial report outlined, earnings beat street analysts by $ 0.58 or 93.55 percent, where as revenues outshined analysts estimates by $ 311.17 million or 7.28 percent.
ManpowerGroup projected third quarter earnings outlook in a range of $ 0.59 ~ $ 0.67 per share
On the other hand, The quarterly earnings 92.56 percent compared with the same quarter last year, at the same time revenues dropped 12.65 percent versus third quarter of last year.
Jonas Prising, Chairman & CEO, said, As the global recovery took hold in the third quarter we experienced strengthening demand for our services reflecting the diversity of our offerings and strength of our digital capabilities. We also continued to advance strategic initiatives in the quarter including restructuring activities to improve efficiency, adjustments to our country portfolio to improve profitability, and ongoing execution of our digitization initiatives.
Further, the company announced 4Q20 earnings estimate to a range of $ 1.06 ~ $ 1.14 per share.Wall street analysts expected 4Q20 income of $ 1.05 per share on revenue of $ 4547.79 million.
