ManpowerGroup (MAN) Company Report

ManpowerGroup Inc. reported Q3 2025 revenue of $4.6 billion, EPS of $0.83, and an EBITA margin of 2.1%, while experiencing a challenging environment across Europe and North America since 2023.
As of September 30, 2025, the company maintained a solid balance sheet with $275 million in cash, $2,011 million in total debt, and a total debt-to-total capitalization of 38%.
The semi-annual dividend was reduced to $0.72 per share (declared May 2, 2025) in 2025 to reflect the current staffing services environment, with a current yield of 4.1% based on the October 16, 2025 price.
The company repurchased 0.7 million shares in 2025 and has 1.9 million shares remaining authorized for repurchase under the August 2023 authorization.
ManpowerGroup targets an EBITA margin of 4.5% - 5.0% and a Return on Invested Capital (ROIC) of 15%, with anticipated elevated restructuring charges over the next two years to drive significant cost reductions.

Nov 18, 2025, 1:00 PM

8-K

ManpowerGroup Reports Q3 2025 Results with Return to Organic Revenue Growth

MAN

Earnings

Revenue Acceleration/Inflection

Guidance Update

ManpowerGroup reported Q3 2025 revenue of $4.6 billion, a 2% decrease year over year in constant currency, but achieved a return to organic constant currency revenue growth after 11 consecutive quarters of declines.
Adjusted earnings per diluted share was $0.83, a 39% decrease year over year in constant currency, with adjusted EBITDA at $96 million and an adjusted EBITDA margin of 2.1%.
The company observed stabilization in demand across North America and Europe, with the Manpower brand showing growth in several regions and early signs of stabilization in Experis's professional and IT hiring. Talent Solutions' managed service provider offering also saw strong revenue growth.
Geographically, the Americas segment revenue increased 6% in constant currency, and the Asia-Pacific Middle East (APME) segment revenue increased 8% in organic constant currency, driven by strong performance in Japan. AI investments, particularly Sophy AI, are contributing to new client revenue, with approximately 30% of new client revenue derived from AI-rated probability.
For Q4 2025, ManpowerGroup anticipates SG&A leverage to significantly impact EBITDA, reflecting disciplined cost control and efficiency improvements, aiming for a relatively stable EBITDA level from Q3 to Q4.

Oct 16, 2025, 12:30 PM

Transcript

ManpowerGroup Reports Q3 2025 Results, Returns to Organic Revenue Growth

MAN

Earnings

Guidance Update

Revenue Acceleration/Inflection

ManpowerGroup reported Q3 2025 revenue of $4.6 billion, a 2% decrease year-over-year in constant currency. However, the company achieved 0.5% organic days adjusted constant currency revenue growth, marking a return to growth after eleven consecutive quarters of declines.
Adjusted EBITDA for Q3 2025 was $96 million (2.1% margin), a 22% decrease in constant currency, and adjusted diluted EPS was $0.83, down 39% year-over-year in constant currency.
For Q4 2025, the company forecasts EPS between $0.78 and $0.88 and expects constant currency revenue to range from a 2% decrease to a 2% increase, with the midpoint being flat.
The Manpower brand grew 3% organically in constant currency, driven by stabilization in North America and Europe. The company's AI-enabled data insights are contributing to new client revenue, with approximately 30% derived from AI-rated probability, and it anticipates SG&A leverage to positively impact Q4 EBITDA due to cost control actions.

Oct 16, 2025, 12:30 PM

Transcript

ManpowerGroup Reports Q3 2025 Results and Q4 2025 Outlook

MAN

Earnings

Guidance Update

Revenue Acceleration/Inflection

ManpowerGroup reported Q3 2025 revenue of $4.6 billion, an increase of 2% as reported, but a decrease of 2% in constant currency.
Adjusted diluted earnings per share (EPS) for Q3 2025 was $0.83, a 36% decrease from the prior year.
The company returned to organic constant currency revenue growth in Q3 2025, ending a streak of 11 consecutive quarters of declines.
For Q4 2025, ManpowerGroup anticipates EPS between $0.78 and $0.88, with total revenue projected to be up 3-7% (down 2% / up 2% CC).
As of September 30, 2025, total debt was $1,216 million and net debt was $941 million, with a Net Debt-to-EBITDA ratio of 3.18 to 1.

Oct 16, 2025, 12:30 PM

Presentation

ManpowerGroup Reports Q3 2025 Results and Provides Q4 Guidance

MAN

Earnings

Guidance Update

Revenue Acceleration/Inflection

ManpowerGroup reported Q3 2025 revenues of $4.6 billion, representing a 2% increase as reported, a 2% decrease in constant currency, and a 1% increase in organic constant currency.
This marks the company's first organic constant currency revenue growth in 11 consecutive quarters.
Reported diluted earnings per share (EPS) for Q3 2025 was $0.38, while adjusted EPS was $0.83 after excluding $0.45 per share in restructuring costs and non-cash currency translation losses.
The gross profit margin for Q3 2025 was 16.6%.
The company anticipates diluted EPS for the fourth quarter of 2025 to be between $0.78 and $0.88.

Oct 16, 2025, 11:45 AM

8-K

ManpowerGroup Reports Q3 2025 Results

MAN

Earnings

Guidance Update

Revenue Acceleration/Inflection

ManpowerGroup reported revenues of $4.6 billion for the third quarter ended September 30, 2025, a 2% increase year-over-year, with diluted earnings per share of $0.38.
The company achieved 1% organic constant currency revenue growth in Q3 2025, marking a return to growth after 11 consecutive quarters of declines, attributed to stabilization in North America and Europe.
For the nine months ended September 30, 2025, ManpowerGroup reported net losses of $43.5 million on revenues of $13.2 billion.
ManpowerGroup expects diluted earnings per share for the fourth quarter to be between $0.78 and $0.88.

Oct 16, 2025, 11:30 AM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for ManpowerGroup.

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