ManpowerGroup Q2 2026: $53.5M Profit, Jefferson Wells Sale, and JFTC Probe
MAN has more than doubled off its 52-week low of $25.15.
Summary
ManpowerGroup reported Q2 2026 net earnings of $53.5M, reversing a year-ago loss, aided by the sale of Jefferson Wells. The company also disclosed a JFTC investigation in Japan and a significant drop in cash reserves.
Key Events · Earnings and Guidance · MAN
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Q2 2026 Profit Recovery
Net earnings of $53.5M ($1.13/share) vs. a $67.1M loss in Q2 2025, on revenue of $4.86B (up 8%). Gross margin declined 80 bps to 16.1% due to business mix shifts.
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Jefferson Wells Sale Completed
Sold the U.S. finance and accounting business for $100M, recognizing a $30M gain. Net cash proceeds were $87.5M after adjustments.
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JFTC Investigation Disclosed
Japan Fair Trade Commission inspected offices of the Japanese subsidiary on June 2, 2026, as part of an industry probe. No potential impact has been communicated.
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Cash Reserves Decline
Cash and equivalents fell to $180.6M from $871.0M at year-end, primarily due to the redemption of €500M notes. Available liquidity stands at $930.2M.
Analysis · MAN · Trade & Services
ManpowerGroup swung to a $53.5M profit in Q2 2026 from a $67.1M loss a year ago, driven by an 8% revenue increase and a $30M gain on the sale of its Jefferson Wells U.S. business. The company also disclosed a JFTC investigation into its Japanese subsidiary, adding regulatory risk. Cash reserves fell sharply to $180.6M after repaying €500M in notes, but liquidity remains adequate with $930M in available credit. The quarter shows operational recovery, but the investigation and cash decline warrant attention.
At the time of this filing, MAN was trading at $57.36 on NYSE in the Trade & Services sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $25.15 to $57.94. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.