ManpowerGroup - MAN STOCK NEWS

The ManpowerGroup Employment Outlook Survey for Q4 2024 reveals a global Net Employment Outlook (NEO) of 25%, up 3% from Q3 but down 5% year-over-year. North America leads with a 32% Outlook, followed by Asia Pacific (27%), South and Central Americas (23%), and EMEA (21%). The IT sector shows the strongest hiring intentions at 35%, with Financials & Real Estate at 32%. Larger organizations (250-999 employees) report the highest Outlook at 32%. India (37%), Costa Rica (36%), and the United States (34%) have the strongest hiring plans globally. While quarter-over-quarter improvement shows cautious optimism, the year-over-year decline suggests ongoing economic uncertainties affecting hiring plans.

Manpower, a global staffing firm part of ManpowerGroup (NYSE: MAN), is opening job hubs in seven Walmart stores across the US. The first two locations will launch on September 13 in Sturtevant, Wisconsin and High Point, North Carolina. Five more hubs are planned to open between late September and early November in various states.

These job hubs aim to provide convenient access to employment opportunities for both active job seekers and casual shoppers. Manpower's Senior VP, Rajesh Namboothiry, emphasized the company's commitment to meeting talent where they are and improving the connection between job seekers and employers. Walmart's Senior Director, Tené Green, highlighted the initiative's alignment with their goal of enhancing customers' shopping experience and quality of life.

Jefferson Wells, part of ManpowerGroup (NYSE: MAN), has released its 2024 Internal Audit Priorities Survey. The survey highlights cybersecurity and Generative AI as top concerns for internal audit leaders. Key findings include:

- Only 26% of organizations have fully integrated Generative AI standards into their governance framework
- 37% of organizations plan to increase staff to meet demand for technology skills
- Business transformation and IT deployment risks require advanced skillsets in cybersecurity, data analytics, IT audit, and Generative AI

Tim Lietz, National Practice Leader for Risk & Compliance at Jefferson Wells, emphasizes the critical need for Internal Audit functions to adapt to AI and cybersecurity advancements, suggesting the expansion of capabilities and leveraging external expertise to address skill gaps.

Talent Solutions, part of ManpowerGroup (NYSE: MAN), has been recognized as a Leader in Recruitment Process Outsourcing (RPO) for North America, EMEA, and Asia Pacific in the Everest Group PEAK Matrix® Assessment 2024. The company also achieved Star Performer status in the EMEA region. Everest Group highlighted Talent Solutions' strong vision, comprehensive expertise, and innovative approach as key factors in its leadership position.

The assessment praised Talent Solutions' investments in advanced labor market analytics and technology solutions, including the PowerSuite™ ecosystem and Sophie by ManpowerGroup℠. The company's strengths across regions include robust delivery capabilities, deep domain expertise, and exceptional flexibility in crafting solutions for diverse market needs.

ManpowerGroup (NYSE: MAN) has been recognized as one of the World's Most Sustainable Companies by TIME Magazine, ranking 96th out of 500 companies with a score of 70.48. As the top performer in the workforce solutions industry, ManpowerGroup's commitment to sustainability is evident in its comprehensive approach and ambitious goals.

The company focuses on five key areas: increasing renewable energy use, decarbonizing commutes, electrifying fleet, promoting eco-responsible business travel, and scaling impact through the supply chain. This recognition follows other recent accolades, including being named one of the World's Most Ethical Companies for the 15th time and achieving a Platinum medal in the 2023 EcoVadis assessment.

ManpowerGroup's sustainability efforts are further validated by its B rating in the 2023 CDP ratings and its position as the first company in its industry to have 2030 emission reduction goals validated by the Science Based Targets initiative (SBTi).

ManpowerGroup (NYSE: MAN) reported its Q2 2024 results with revenues of $4.5 billion, a 7% decrease (3% in constant currency) from the prior year. Net earnings were $60.1 million or $1.24 per diluted share, compared to $65.2 million or $1.29 per share in Q2 2023. Excluding losses from Proservia Germany, earnings were $1.30 per share.

The company faced a challenging environment in North America and Europe, while experiencing solid demand in Latin America and Asia-Pacific. Gross profit margin was 17.4%, with staffing margins remaining solid. SG&A costs were reduced by 9% (7% in constant currency). ManpowerGroup repurchased $27 million of common stock during the quarter.

For Q3 2024, the company anticipates diluted earnings per share between $1.25 and $1.35, including an estimated unfavorable currency impact of 5 cents.

ManpowerGroup (NYSE: MAN), a global leader in workforce solutions, is set to release its 2nd quarter 2024 earnings results on July 18, 2024, before the market opens.

Management will discuss these results in a live webcast at 7:30 a.m. Central Time, which will be accessible via the company's website.

The webcast will be available for replay from 10:30 a.m. Central Time on the same day and will remain accessible for 30 days.

Supplemental financial information and the earnings press release will also be available on the company's website after 7:30 a.m. Central Time on July 18, 2024.

ManpowerGroup's new report indicates that 55% of employers expect to increase headcount due to AI and machine learning within the next two years. Conversely, 24% foresee no impact, and 18% anticipate workforce reductions. Nearly half of the companies (48%) have already adopted AI, showing a 13% increase from the previous year. The report emphasizes the importance of upskilling and reskilling to bridge existing skills gaps and adapt to new roles, with senior leaders (69%) more optimistic about AI's impact than frontline workers (57%). Key challenges include high costs (33%), privacy concerns (31%), and a lack of AI skills (31%).

The latest ManpowerGroup Employment Outlook Survey reveals a Net Employment Outlook (NEO) of 22% for Q3 2024, down 6% year-over-year. Despite economic uncertainties, hiring intentions remain steady compared to the previous quarter. North America leads with a 27% NEO, while Europe, Middle East, and Africa lag at 18%. The IT sector shows the strongest hiring intentions at 29%, followed by Financials & Real Estate and Health Care & Life Sciences at 27%. AI and machine learning are expected to drive an increase in headcount for 55% of employers. The survey, conducted across 42 countries, highlights that 48% of companies have already adopted AI, with a 13% increase from the previous year. High costs, privacy concerns, and a lack of AI skills are the main challenges in AI adoption.