ManpowerGroup Swings to Q2 Profit, Guides Q3 EPS $0.96–$1.06
MAN sits 64% above its 52-week low of $25.15.
Summary
ManpowerGroup reported Q2 2026 net earnings of $53.5M ($1.13/share) vs. a $67.1M loss last year, with revenue up 8% to $4.9B. The company guided Q3 EPS of $0.96–$1.06 and highlighted a strengthened balance sheet after repaying $585.8M in long-term debt.
Key Events · Earnings and Guidance · MAN
-
Q2 Profit Swing
Net earnings of $53.5M ($1.13 diluted EPS) compared to a net loss of $67.1M ($1.44 loss per share) in Q2 2025. Adjusted EPS of $0.99, up 27% constant currency.
-
Revenue Growth Accelerates
Revenue of $4.9B, up 8% reported (6% constant currency), driven by 14% growth in the Americas and 7% in Southern Europe. Manpower brand organic CC revenue growth improved to 8%.
-
Jefferson Wells Sale Closes
Completed sale of Jefferson Wells U.S. business for $100M, generating net cash proceeds of $88M and a $23.8M net-of-tax gain.
-
Q3 Guidance Issued
Expects Q3 diluted EPS of $0.96–$1.06, including an estimated $0.02 unfavorable currency impact and a 44% effective tax rate.
Analysis · MAN · Trade & Services
ManpowerGroup delivered a sharp turnaround in Q2 2026, posting net earnings of $53.5 million versus a $67.1 million loss a year ago. Revenue grew 8% to $4.9 billion, driven by strong demand in the Americas and select European markets. The company also completed the $100 million sale of its Jefferson Wells U.S. business, which contributed $23.8 million net of tax to earnings. While gross margin compressed 80 basis points to 16.1%, SG&A fell 15.3% as restructuring and cost discipline took hold. The balance sheet strengthened significantly — total debt was cut by over $600 million in the first half, though cash reserves dropped to $180.6 million. Q3 guidance of $0.96–$1.06 per share implies continued momentum, but the 44% effective tax rate remains a headwind. This report confirms the operational inflection the company has been signaling, with profitability restored and leverage reduced.
At the time of this filing, MAN was trading at $41.25 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.8B. The 52-week trading range was $25.15 to $47.34. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.