ManpowerGroup Reports Q4 2025 Results with Adjusted EPS Decline, Full-Year Net Loss Due to Impairments
MAN is trading near its 52-week low of $26.14 (11% above the low).
Summary
ManpowerGroup reported a full-year 2025 net loss of $13.3 million, primarily due to $88.7 million in impairment charges. Q4 2025 adjusted EPS declined 17% constant currency, despite revenue growth and signs of market stabilization. The company issued Q1 2026 guidance and completed debt refinancing.
Key Events · Earnings and Guidance · MAN
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Full-Year 2025 Net Loss Driven by Impairments
The company reported a net loss of $13.3 million for the full year 2025, a significant decline from net earnings of $145.1 million in 2024. This was primarily due to $88.7 million in non-cash goodwill and intangible asset impairment charges.
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Q4 2025 Adjusted EPS Decline
For the fourth quarter of 2025, adjusted diluted earnings per share were $0.92, representing a 17% decrease in constant currency compared to the prior year, despite a 7.1% reported revenue increase to $4.7 billion.
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Operational Stabilization and Cost Actions Noted
Management highlighted ongoing stabilization across North America and Europe, sequential improvement in revenue growth and profitability throughout 2025, and successful cost optimization strategies.
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Q1 2026 Outlook Provided
ManpowerGroup anticipates diluted EPS for the first quarter of 2026 to be between $0.45 and $0.55, with total revenue expected to increase by 6-10% (1-3% in constant currency).
Analysis · MAN · Trade & Services
ManpowerGroup Inc. reported a significant full-year net loss for 2025, primarily driven by $88.7 million in goodwill and intangible asset impairment charges related to its investments in Switzerland and the United Kingdom. This substantial write-down, representing a material portion of the company's market capitalization, overshadowed some operational stabilization observed in the fourth quarter. While Q4 2025 revenues increased, adjusted diluted EPS declined by 17% in constant currency, reflecting ongoing challenges, particularly in permanent recruitment activity in Europe. The company successfully refinanced a €500 million Euro Note and reset its revolving credit facility, enhancing financial flexibility. The outlook for Q1 2026 anticipates revenue growth and provides EPS guidance, suggesting a cautious path towards recovery and sustainable growth through cost optimization and technology initiatives.
At the time of this filing, MAN was trading at $29.00 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $26.14 to $63.35. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.