ManpowerGroup Reports 4th Quarter 2024 Results
ManpowerGroup (NYSE: MAN) reported Q4 2024 financial results with revenues of $4.4 billion, representing a 5% decrease (3% in constant currency) from the previous year. The company posted net earnings of $22.5 million, or $0.47 per diluted share, compared to net losses of $84.5 million ($1.73 per share) in the prior year period.
The quarter included restructuring costs, pension settlements, and losses from the Austria business sale, reducing earnings by $0.55 per share. Excluding these charges, earnings were $1.02 per diluted share, a 27% decrease in constant currency. The company experienced challenging conditions in Europe and North America, while Asia Pacific and Latin America showed good demand. The gross profit margin was 17.2%, with staffing margins remaining solid despite a slight decrease from mix.
For the full year 2024, revenues were $17.9 billion, down 6% (3% in constant currency), with net earnings of $145.1 million ($3.01 per diluted share). The company expects Q1 2025 earnings between $0.47 and $0.57 per share.
ManpowerGroup (NYSE: MAN) ha riportato i risultati finanziari del quarto trimestre 2024 con ricavi di $4,4 miliardi, registrando una diminuzione del 5% (3% a valuta costante) rispetto all'anno precedente. L'azienda ha registrato un utile netto di $22,5 milioni, ovvero $0,47 per azione diluita, rispetto a perdite nette di $84,5 milioni ($1,73 per azione) nello stesso periodo dell'anno precedente.
Il trimestre ha incluso costi di ristrutturazione, risoluzioni pensionistiche e perdite dalla vendita del business in Austria, riducendo l'utile di $0,55 per azione. Escludendo queste spese, l'utile è stato di $1,02 per azione diluita, con una diminuzione del 27% a valuta costante. L'azienda ha affrontato condizioni difficili in Europa e Nord America, mentre Asia Pacifico e America Latina hanno mostrato una buona domanda. Il margine di profitto lordo era del 17,2%, con margini di staffing che sono rimasti solidi nonostante una leggera diminuzione per mix.
Per l'intero anno 2024, i ricavi sono stati di $17,9 miliardi, in calo del 6% (3% a valuta costante), con utili netti di $145,1 milioni ($3,01 per azione diluita). L'azienda prevede utili tra $0,47 e $0,57 per azione nel primo trimestre 2025.
ManpowerGroup (NYSE: MAN) informó los resultados financieros del cuarto trimestre de 2024 con ingresos de $4,4 mil millones, lo que representa una disminución del 5% (3% en moneda constante) en comparación con el año anterior. La compañía reportó ganancias netas de $22,5 millones, o $0,47 por acción diluida, en comparación con pérdidas netas de $84,5 millones ($1,73 por acción) en el mismo período del año anterior.
El trimestre incluyó costos de reestructuración, liquidaciones de pensiones y pérdidas de la venta del negocio en Austria, lo que redujo las ganancias en $0,55 por acción. Excluyendo estos cargos, las ganancias fueron de $1,02 por acción diluida, una disminución del 27% en moneda constante. La empresa experimentó condiciones desafiantes en Europa y América del Norte, mientras que Asia-Pacífico y América Latina mostraron buena demanda. El margen de ganancia bruta fue del 17,2%, con márgenes de personal que se mantuvieron sólidos a pesar de una ligera disminución en la mezcla.
Para el año completo de 2024, los ingresos fueron de $17,9 mil millones, una caída del 6% (3% en moneda constante), con ganancias netas de $145,1 millones ($3,01 por acción diluida). La compañía espera ganancias en el primer trimestre de 2025 entre $0,47 y $0,57 por acción.
맨파워그룹 (NYSE: MAN)은 2024년 4분기 재무 결과를 보고하며 $44억의 수익을 기록했습니다. 이는 전년 대비 5% 감소한 수치입니다(상수통화 기준 3% 감소). 이 회사는 순이익 2,250만 달러, 주당 희석 기준 0.47달러를 올렸고, 전년 동기 순손실은 8,450만 달러(주당 1.73달러)에 달했습니다.
이번 분기에는 구조 조정 비용, 연금 정산, 그리고 오스트리아 사업 매각으로 인한 손실이 포함되어 주당 0.55달러의 수익을 줄였습니다. 이러한 비용을 제외할 경우, 수익은 주당 1.02달러로 상수통화 기준으로 27% 감소하였습니다. 회사는 유럽과 북미에서 힘든 상황을 경험했으며, 아시아-태평양 및 라틴 아메리카에서는 좋은 수요를 보였습니다. 총 이익률은 17.2%였으며, 고용 마진은 소폭 감소했지만 여전히 견고했습니다.
2024년 전체 연도 동안의 수익은 $179억으로, 6% 감소했으며(상수통화 기준 3% 감소), 순이익은 1억 4,510만 달러(주당 3.01달러)였습니다. 회사는 2025년 1분기 주당 수익이 0.47달러에서 0.57달러 사이가 될 것으로 예상하고 있습니다.
ManpowerGroup (NYSE: MAN) a rapporté des résultats financiers pour le quatrième trimestre 2024, avec des revenus de 4,4 milliards de dollars, représentant une diminution de 5% (3% à taux de change constant) par rapport à l'année précédente. L'entreprise a affiché un bénéfice net de 22,5 millions de dollars, soit 0,47 dollar par action diluée, contre une perte nette de 84,5 millions de dollars (1,73 dollar par action) pour la même période de l'année précédente.
Le trimestre a inclus des coûts de restructuration, des règlements de pensions et des pertes provenant de la vente de l'activité en Autriche, réduisant le bénéfice de 0,55 dollar par action. En excluant ces charges, le bénéfice s'élevait à 1,02 dollar par action diluée, soit une diminution de 27% en monnaie constante. L'entreprise a rencontré des conditions difficiles en Europe et en Amérique du Nord, tandis que l'Asie-Pacifique et l'Amérique latine ont affiché une bonne demande. La marge brute était de 17,2%, les marges de personnel demeurant solides malgré une légère baisse due au mix.
Pour l'ensemble de l'année 2024, les revenus se sont élevés à 17,9 milliards de dollars, en baisse de 6% (3% à taux de change constant), avec un bénéfice net de 145,1 millions de dollars (3,01 dollars par action diluée). L'entreprise attend des bénéfices pour le premier trimestre 2025 compris entre 0,47 et 0,57 dollar par action.
ManpowerGroup (NYSE: MAN) berichtete über die finanziellen Ergebnisse des vierten Quartals 2024 mit Einnahmen von 4,4 Milliarden Dollar, was einem Rückgang von 5% (3% in konstantem Wechselkurs) im Vergleich zum Vorjahr entspricht. Das Unternehmen verzeichnete einen Nettogewinn von 22,5 Millionen Dollar, oder 0,47 Dollar pro verwässerter Aktie, im Vergleich zu einem Nettverlust von 84,5 Millionen Dollar (1,73 Dollar pro Aktie) im gleichen Zeitraum des Vorjahres.
Im Quartal waren Umstrukturierungskosten, Pensionsregelungen und Verluste aus dem Verkauf des Geschäfts in Österreich enthalten, was die Gewinne um 0,55 Dollar pro Aktie verringerte. Ohne diese Belastungen betrugen die Gewinne 1,02 Dollar pro verwässerter Aktie, was einem Rückgang von 27% in konstantem Wechselkurs entspricht. Das Unternehmen hatte mit schwierigen Bedingungen in Europa und Nordamerika zu kämpfen, während Asien-Pazifik und Lateinamerika eine gute Nachfrage zeigten. Die Bruttogewinnmarge betrug 17,2%, wobei die Personalvermittlungs-Margen trotz eines leichten Rückgangs im Mix stabil blieben.
Für das gesamte Jahr 2024 lagen die Einnahmen bei 17,9 Milliarden Dollar, ein Rückgang um 6% (3% in konstantem Wechselkurs), mit einem Nettogewinn von 145,1 Millionen Dollar (3,01 Dollar pro verwässerter Aktie). Das Unternehmen erwartet im ersten Quartal 2025 einen Gewinn von 0,47 bis 0,57 Dollar pro Aktie.
- Strong cash flow from operating activities with three-day reduction in Days Sales Outstanding
- $34 million in share repurchases executed
- Solid staffing margins maintained despite market challenges
- Good demand performance in Asia Pacific and Latin America regions
- Revenue declined 5% to $4.4 billion in Q4 2024
- Earnings per share decreased 27% (excluding charges) in constant currency
- Challenging market conditions in Europe and North America
- Full-year 2024 revenue dropped 6% to $17.9 billion
- Restructuring costs and business sale losses impacted earnings negatively
Insights
ManpowerGroup's Q4 2024 performance reflects the complex dynamics in the global staffing market, with several key implications for investors:
The headline revenue decline of
The company's strategic initiatives deserve particular attention:
- The Austria franchise conversion and broader restructuring efforts indicate a shift toward an asset-lighter model in challenging European markets
- The
$34 million share repurchase, combined with improved working capital management (three-day reduction in DSO), shows disciplined capital allocation - The projected
36% tax rate for Q1 2025 is notably high and could pressure earnings
Looking ahead, ManpowerGroup's Q1 2025 EPS guidance of
The geographical divergence in performance - with Asia Pacific and Latin America showing strength while traditional markets struggle - may accelerate the company's strategic pivot toward higher-growth regions. This could lead to a more balanced and resilient revenue mix over time, though execution risks remain in this transformation.
- Revenues of
$4.4 billion 5% as reported, -3% constant currency) - Regional trends largely unchanged as
Europe andNorth America experienced a challenging environment whileAsia Pacific andLatin America saw good demand - Gross profit margin of
17.2% . Staffing margins remained solid with slight decrease from mix; permanent recruitment largely stable at lower levels across most major markets - SG&A reductions partially offset gross profit declines during the quarter
- Strong cash provided by operating activities1 during the quarter with a three-day reduction in Days Sales Outstanding at year end;
$34 million
The current year quarter included restructuring costs, pension settlements and net losses from the sale of our
Financial results in the quarter were also impacted by the
Jonas Prising, ManpowerGroup Chair & CEO, said, "The operating conditions experienced across our regions came in largely as expected during the quarter with relatively stable activity at lower levels across
We anticipate diluted earnings per share in the first quarter will be between
Net earnings for the year ended December 31, 2024 were
In conjunction with its fourth quarter earnings release, ManpowerGroup will broadcast its conference call live over the Internet on January 30, 2025 at 7:30 a.m. central time (8:30 a.m. eastern time). Prepared remarks for the conference call, webcast details, presentation and recordings are included within the Investor Relations section of manpowergroup.com.
Supplemental financial information referenced in the conference call can be found at http://investor.manpowergroup.com/.
About ManpowerGroup
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2024 ManpowerGroup was named one of the World's Most Ethical Companies for the 15th time – all confirming our position as the brand of choice for in-demand talent. For more information, visit www.manpowergroup.com.
Forward-Looking Statements
This press release contains statements, including statements regarding global economic and geopolitical uncertainty, trends in labor demand and the future strengthening of such demand, financial outlook, the outlook for our business in regions in which we operate as well as key countries within those regions, and the Company's strategic initiatives and technology investments, including transformation programs and the positioning of future growth for our brands that are forward-looking in nature and, accordingly, are subject to risks and uncertainties regarding the Company's expected future results. The Company's actual results may differ materially from those described or contemplated in the forward-looking statements due to numerous factors. These factors include those found in the Company's reports filed with the SEC, including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2023, which information is incorporated herein by reference.
The Company assumes no obligation to update or revise any forward-looking statements. We reference certain non-GAAP financial measures, which we believe provide useful information for investors. We include a reconciliation of these measures, where appropriate, to GAAP on the Investor Relations section of our website at manpowergroup.com.
1 Cash provided by operating activities equaled
2 The prior year period included various adjustments which reduced earnings per share by
3 The fourth quarter earnings per share guidance estimated a negative
4 The prior year period included various adjustments which reduced earnings per share by
ManpowerGroup | ||||
Results of Operations | ||||
(In millions, except per share data) | ||||
Three Months Ended December 31 | ||||
% Variance | ||||
Amount | Constant | |||
2024 | 2023 | Reported | Currency | |
(Unaudited) | ||||
Revenues from services (a) | $ 4,399.7 | $ 4,630.5 | -5.0 % | -2.9 % |
Cost of services | 3,644.6 | 3,819.8 | -4.6 % | -2.5 % |
Gross profit | 755.1 | 810.7 | -6.9 % | -4.9 % |
Selling and administrative expenses, | 686.9 | 795.1 | -13.6 % | -12.0 % |
Goodwill impairment charge (b) | - | 55.1 | N/A | N/A |
Selling and administrative expenses | 686.9 | 850.2 | -19.2 % | -17.7 % |
Operating profit (loss) | 68.2 | (39.5) | 272.6 % | 280.2 % |
Interest and other expenses, net | 20.5 | 15.5 | 32.1 % | |
Earnings (loss) before income taxes | 47.7 | (55.0) | 186.9 % | 196.4 % |
Provision for income taxes | 25.2 | 29.5 | -14.8 % | |
Net earnings (loss) | $ 22.5 | $ (84.5) | 126.6 % | 129.5 % |
Net earnings (loss) per share - basic | $ 0.48 | $ (1.73) | 127.5 % | |
Net earnings (loss) per share - diluted | $ 0.47 | $ (1.73) | 127.2 % | 130.1 % |
Weighted average shares - basic | 47.2 | 48.7 | -3.2 % | |
Weighted average shares - diluted | 47.7 | 48.7 | -2.1 % | |
(a) Revenues from services include fees received from our franchise offices of | ||||
(b) The goodwill impairment charge for the three months ended December 31, 2023 is related to our investment in the | ||||
ManpowerGroup | ||||
Operating Unit Results | ||||
(In millions) | ||||
Three Months Ended December 31 | ||||
% Variance | ||||
Amount | Constant | |||
2024 | 2023(a) | Reported | Currency | |
(Unaudited) | ||||
Revenues from Services: | ||||
| ||||
United States (b) | $ 691.8 | $ 685.2 | 1.0 % | 1.0 % |
Other Americas | 381.8 | 389.4 | -2.0 % | 18.1 % |
1,073.6 | 1,074.6 | -0.1 % | 7.2 % | |
| ||||
| 1,134.5 | 1,209.7 | -6.2 % | -5.5 % |
| 418.7 | 415.1 | 0.9 % | 1.8 % |
Other Southern Europe | 490.2 | 487.0 | 0.7 % | 1.1 % |
2,043.4 | 2,111.8 | -3.2 % | -2.5 % | |
| 768.4 | 913.7 | -15.9 % | -16.4 % |
APME | 522.0 | 552.2 | -5.5 % | -4.0 % |
4,407.4 | 4,652.3 | |||
Intercompany Eliminations | (7.7) | (21.8) | ||
$ 4,399.7 | $ 4,630.5 | -5.0 % | -2.9 % | |
Operating Unit Profit (Loss): | ||||
| ||||
| $ 16.0 | $ 16.8 | -4.1 % | -4.1 % |
Other Americas | 18.3 | 19.1 | -4.8 % | 16.2 % |
34.3 | 35.9 | -4.5 % | 6.7 % | |
| ||||
| 36.7 | 46.0 | -20.1 % | -19.8 % |
| 24.3 | 30.7 | -20.5 % | -20.1 % |
Other Southern Europe | 14.2 | 14.1 | -0.7 % | -1.3 % |
75.2 | 90.8 | -17.2 % | -17.1 % | |
| (16.5) | (81.4) | 79.7 % | 78.3 % |
APME | 15.8 | 21.6 | -27.0 % | -28.3 % |
108.8 | 66.9 | |||
Corporate expenses | (32.5) | (42.9) | ||
Goodwill impairment charge (c) | - | (55.1) | ||
Intangible asset amortization expense | (8.1) | (8.4) | ||
Operating profit (loss) | 68.2 | (39.5) | 272.6 % | 280.2 % |
Interest and other expenses, net (d) | (20.5) | (15.5) | ||
Earnings (loss) before income taxes | $ 47.7 | $ (55.0) | ||
(a) Effective January 1, 2024, our segment reporting was realigned to include our | ||||
(b) In | ||||
(c) The goodwill impairment charge for the three months ended December 31, 2023 is related to our investment in | ||||
(d) The components of interest and other expenses, net were: | ||||
2024 | 2023 | |||
Interest expense | $ 23.0 | $ 20.0 | ||
Interest income | (8.9) | (9.7) | ||
Foreign exchange loss | 1.0 | 7.6 | ||
Miscellaneous loss (income) | 5.4 | (2.4) | ||
$ 20.5 | $ 15.5 | |||
ManpowerGroup | ||||
Results of Operations | ||||
(In millions, except per share data) | ||||
Year Ended December 31 | ||||
% Variance | ||||
Amount | Constant | |||
2024 | 2023 | Reported | Currency | |
(Unaudited) | ||||
Revenues from services (a) | $ 17,853.9 | $ 18,914.5 | -5.6 % | -3.4 % |
Cost of services | 14,767.1 | 15,556.5 | -5.1 % | -2.8 % |
Gross profit | 3,086.8 | 3,358.0 | -8.1 % | -6.2 % |
Selling and administrative expenses, | 2,780.8 | 3,047.1 | -8.7 % | -7.1 % |
Goodwill impairment charge (b) | - | 55.1 | N/A | N/A |
Selling and administrative expenses | 2,780.8 | 3,102.2 | -10.4 % | -8.8 % |
Operating profit | 306.0 | 255.8 | 19.6 % | 25.2 % |
Interest and other expenses, net | 49.2 | 49.9 | -1.5 % | |
Earnings before income taxes | 256.8 | 205.9 | 24.7 % | 31.1 % |
Provision for income taxes | 111.7 | 117.1 | -4.6 % | |
Net earnings | $ 145.1 | $ 88.8 | 63.5 % | 71.8 % |
Net earnings per share - basic | $ 3.04 | $ 1.78 | 70.4 % | |
Net earnings per share - diluted | $ 3.01 | $ 1.76 | 70.6 % | 79.3 % |
Weighted average shares - basic | 47.8 | 49.8 | -4.1 % | |
Weighted average shares - diluted | 48.3 | 50.4 | -4.2 % | |
(a) Revenues from services include fees received from our franchise offices of | ||||
(b) The goodwill impairment charge for the year ended December 31, 2023 is related to our investment | ||||
ManpowerGroup | ||||
Operating Unit Results | ||||
(In millions) | ||||
Year Ended December 31 | ||||
% Variance | ||||
Amount | Constant | |||
2024 | 2023(a) | Reported | Currency | |
(Unaudited) | ||||
Revenues from Services: | ||||
| ||||
United States (b) | $ 2,766.6 | $ 2,866.2 | -3.5 % | -3.5 % |
Other Americas | 1,458.3 | 1,548.6 | -5.8 % | 15.2 % |
4,224.9 | 4,414.8 | -4.3 % | 3.1 % | |
| ||||
| 4,618.4 | 4,867.1 | -5.1 % | -5.1 % |
| 1,677.0 | 1,708.8 | -1.9 % | -1.8 % |
Other Southern Europe | 1,922.9 | 1,939.4 | -0.9 % | 0.0 % |
8,218.3 | 8,515.3 | -3.5 % | -3.3 % | |
| 3,304.3 | 3,748.0 | -11.8 % | -12.9 % |
APME | 2,161.3 | 2,322.3 | -6.9 % | -2.3 % |
17,908.8 | 19,000.4 | |||
Intercompany Eliminations | (54.9) | (85.9) | ||
$ 17,853.9 | $ 18,914.5 | -5.6 % | -3.4 % | |
Operating Unit Profit (Loss): | ||||
| ||||
| $ 77.7 | $ 94.4 | -17.6 % | -17.6 % |
Other Americas | 63.9 | 71.2 | -10.3 % | 2.6 % |
141.6 | 165.6 | -14.5 % | -8.9 % | |
| ||||
| 151.8 | 188.3 | -19.4 % | -19.4 % |
| 113.1 | 124.7 | -9.3 % | -9.4 % |
Other Southern Europe | 39.2 | 44.7 | -12.5 % | -10.9 % |
304.1 | 357.7 | -15.0 % | -14.8 % | |
| (44.6) | (116.7) | 61.8 % | 60.9 % |
APME | 83.7 | 92.6 | -9.7 % | -3.7 % |
484.8 | 499.2 | |||
Corporate expenses | (146.1) | (153.7) | ||
Goodwill impairment charge (c) | - | (55.1) | ||
Intangible asset amortization expense | (32.7) | (34.6) | ||
Operating profit | 306.0 | 255.8 | 19.6 % | 25.2 % |
Interest and other expenses, net (d) | (49.2) | (49.9) | ||
Earnings before income taxes | $ 256.8 | $ 205.9 | ||
(a) Effective January 1, 2024, our segment reporting was realigned to include our | ||||
(b) In | ||||
(c) The goodwill impairment charge for the year ended December 31, 2023 is related to our investment in | ||||
(d) The components of interest and other expenses, net were: | ||||
2024 | 2023 | |||
Interest expense | $ 90.0 | $ 79.7 | ||
Interest income | (33.3) | (34.2) | ||
Foreign exchange loss | 6.2 | 21.8 | ||
Miscellaneous income | (13.7) | (17.4) | ||
$ 49.2 | $ 49.9 | |||
ManpowerGroup | |||
Consolidated Balance Sheets | |||
(In millions) | |||
Dec. 31, | Dec. 31, | ||
2024 | 2023 | ||
(Unaudited) | |||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | $ 509.4 | $ 581.3 | |
Accounts receivable, net | 4,297.2 | 4,830.0 | |
Prepaid expenses and other assets | 163.7 | 160.8 | |
Total current assets | 4,970.3 | 5,572.1 | |
Other assets: | |||
Goodwill | 1,563.4 | 1,586.8 | |
Intangible assets, net | 486.1 | 519.6 | |
Operating lease right-of-use assets | 361.3 | 414.0 | |
Other assets | 701.5 | 607.8 | |
Total other assets | 3,112.3 | 3,128.2 | |
Property and equipment: | |||
Land, buildings, leasehold improvements and equipment | 488.2 | 526.5 | |
Less: accumulated depreciation and amortization | 369.8 | 396.6 | |
Net property and equipment | 118.4 | 129.9 | |
Total assets | $ 8,201.0 | $ 8,830.2 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||
Current liabilities: | |||
Accounts payable | $ 2,612.9 | $ 2,723.0 | |
Employee compensation payable | 241.1 | 243.1 | |
Accrued liabilities | 573.7 | 693.0 | |
Accrued payroll taxes and insurance | 615.2 | 695.8 | |
Value added taxes payable | 370.8 | 432.7 | |
Short-term borrowings and current maturities of long-term debt | 23.4 | 12.1 | |
Total current liabilities | 4,437.1 | 4,799.7 | |
Other liabilities: | |||
Long-term debt | 929.4 | 990.5 | |
Long-term operating lease liability | 279.0 | 323.2 | |
Other long-term liabilities | 428.6 | 482.7 | |
Total other liabilities | 1,637.0 | 1,796.4 | |
Shareholders' equity: | |||
ManpowerGroup shareholders' equity | |||
Common stock | 1.2 | 1.2 | |
Capital in excess of par value | 3,546.1 | 3,514.9 | |
Retained earnings | 3,812.3 | 3,813.0 | |
Accumulated other comprehensive loss | (443.0) | (466.0) | |
Treasury stock, at cost | (4,791.4) | (4,639.8) | |
Total ManpowerGroup shareholders' equity | 2,125.2 | 2,223.3 | |
Noncontrolling interests | 1.7 | 10.8 | |
Total shareholders' equity | 2,126.9 | 2,234.1 | |
Total liabilities and shareholders' equity | $ 8,201.0 | $ 8,830.2 | |
ManpowerGroup | |||
Consolidated Statements of Cash Flows | |||
(In millions) | |||
Year Ended | |||
December 31, | |||
2024 | 2023 | ||
(Unaudited) | |||
Cash Flows from Operating Activities: | |||
Net earnings | $ 145.1 | $ 88.8 | |
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
Depreciation and amortization | 86.6 | 88.6 | |
Loss on sales of subsidiaries, net | 8.2 | 1.3 | |
Non-cash goodwill and other impairment charges | - | 57.3 | |
Deferred income taxes | (32.4) | (20.6) | |
Provision for doubtful accounts | 9.0 | 5.4 | |
Share-based compensation | 27.3 | 28.7 | |
Changes in operating assets and liabilities: | |||
Accounts receivable | 261.1 | 391.8 | |
Other assets | (131.8) | (45.2) | |
Accounts payable | 15.7 | (144.7) | |
Other liabilities | (79.6) | (103.2) | |
Cash provided by operating activities | 309.2 | 348.2 | |
Cash Flows from Investing Activities: | |||
Capital expenditures | (51.1) | (78.2) | |
Acquisition of business, net of cash acquired | (4.9) | - | |
Impact to cash resulting from sales of subsidiaries | (14.6) | - | |
Proceeds from the sales of subsidiaries and property and equipment | 2.4 | 4.1 | |
Cash used in investing activities | (68.2) | (74.1) | |
Cash Flows from Financing Activities: | |||
Net change in short-term borrowings | 14.0 | (12.8) | |
Proceeds from long-term debt | 3.7 | 1.0 | |
Repayments of long-term debt | (1.6) | (4.4) | |
Payments of contingent consideration for acquisitions | (2.8) | - | |
Proceeds from share-based awards | 0.8 | 1.8 | |
Payments to noncontrolling interests | (0.2) | (0.6) | |
Other share-based award transactions | (10.5) | (10.4) | |
Repurchases of common stock | (140.0) | (179.8) | |
Dividends paid | (145.8) | (144.3) | |
Cash used in financing activities | (282.4) | (349.5) | |
Effect of exchange rate changes on cash | (30.5) | 17.7 | |
Change in cash and cash equivalents | (71.9) | (57.7) | |
Cash and cash equivalents, beginning of period | 581.3 | 639.0 | |
Cash and cash equivalents, end of period | $ 509.4 | $ 581.3 | |
View original content to download multimedia:https://www.prnewswire.com/news-releases/manpowergroup-reports-4th-quarter-2024-results-302364380.html
SOURCE ManpowerGroup
FAQ
What were ManpowerGroup's (MAN) Q4 2024 revenue and earnings?
How much did ManpowerGroup (MAN) stock buyback amount to in Q4 2024?
What is ManpowerGroup's (MAN) earnings guidance for Q1 2025?
How did ManpowerGroup's (MAN) different regions perform in Q4 2024?
What was ManpowerGroup's (MAN) gross profit margin in Q4 2024?
