ManpowerGroup Inc.: Initiation Of Coverage – How Are The Staffing Solutions Provider Adapting to Geopolitical and Economic Environments!

ManpowerGroup, a global leader in workforce solutions, has reported its financial results for the second quarter of 2024, delivering $4.5 billion in revenue, a decrease of 3% year-over-year in constant currency. Adjusted Earnings Before Interest, Taxes, and Amortization (EBITA) were $112 million, demonstrating a decrease of 9% in constant currency compared to the previous year. The adjusted EBITA margin stood at 2.5%. Adjusted earnings per diluted share were $1.30, reflecting a 12% decrease year-over-year in constant currency. Additionally, the company faced challenges in its Proservia business in Germany, with the financial wind-down now completed.