Welcome to our dedicated page for ManpowerGroup news (Ticker: MAN), a resource for investors and traders seeking the latest updates and insights on ManpowerGroup stock.
ManpowerGroup Inc. (NYSE: MAN) has been a global leader in workforce solutions for over 75 years. Headquartered in Milwaukee, Wisconsin, this company connects over 600,000 individuals daily to meaningful employment opportunities across a broad spectrum of industries. Through its family of brands—Manpower, Experis, Right Management, and ManpowerGroup Solutions—the group serves more than 400,000 clients in 80 countries and territories, addressing critical talent needs by offering comprehensive solutions in recruitment, assessment, upskilling, reskilling, training, career management, outsourcing, and workforce consulting.
ManpowerGroup has earned its reputation for ethical practices and industry leadership, having been named one of the world’s most ethical companies for 14 consecutive years and one of Fortune’s most admired companies. This recognition underscores their commitment to integrity and excellence.
Recent Achievements and Projects:
- In Q4 2023, the company reported a net loss of $1.73 per diluted share, impacted by restructuring costs and non-cash charges. Despite these challenges, excluding these factors, earnings per share were $1.45, representing a decrease of 30% in constant currency from the previous year.
- ManpowerGroup continues to progress in its Diversification, Digitization, and Innovation (DDI) strategy, aimed at enhancing business operations and ensuring future growth.
- Experis, a ManpowerGroup brand, has partnered with ClearDATA to offer advanced cloud compliance and security solutions for the healthcare sector, enhancing their capability to provide top-notch IT solutions.
- ManpowerGroup celebrated its 75th anniversary in 2024 by ringing the closing bell at the New York Stock Exchange, reaffirming its enduring commitment to shaping the future of work.
- The company’s ongoing focus on AI and technology is evident in its active participation in Viva Technology events, where it promotes 'People-First Transformation' to bridge skills gaps and foster an inclusive future of work.
Financial Condition:
For the year ended December 31, 2023, ManpowerGroup reported net earnings of $88.8 million, with revenues at $18.9 billion— a 5% decrease from the prior year. The Southern European region continues to be the largest contributor to its geographical revenue.
Looking ahead, the company anticipates diluted earnings per share for Q1 2024 to range between $0.88 and $0.98, including estimated unfavorable currency impacts and excluding restructuring costs.
For more information on their innovative solutions and latest updates, visit manpowergroup.com.
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.
Experis and Microsoft are set to host a webinar on June 13, 2024, to discuss the impact of AI on the job market. The event, titled 'Supercharging Human Skills: Building Tech Workforces in the Age of AI,' will feature key speakers from ManpowerGroup, Microsoft, IBM, and Inspiration at Work. Topics will include the evolution of tech roles, upskilling strategies, building strategic partnerships, and fostering innovation. Attendees will learn how to integrate AI while leveraging human skills such as creativity and empathy. The webinar is part of Experis’s broader initiative to address the tech industry's skills gap through its Experis Academy.
Talent Solutions, a division of ManpowerGroup (NYSE: MAN), has been named a global leader in Recruitment Process Outsourcing (RPO) by Everest Group for the 14th consecutive year. This sustained leadership is due to the company's strong vision, strategy, and continued investments in innovative solutions.
Key factors contributing to this recognition include Talent Solutions' global presence, comprehensive expertise in talent acquisition, and advanced technology like PowerSuite™, Rapid Recruit, IntelliReach, and ai.m. The company's commitment to innovation in labor market analytics and generative AI also played a important role in retaining its top position.
ManpowerGroup's Chief Commercial Officer Becky Frankiewicz attributes this success to the value delivered to clients, especially in economic uncertainty and talent shortages.
ManpowerGroup will lead discussions on 'People-First Transformation' at Viva Technology 2024 in Paris from May 22-25. The focus is on bridging skills gaps, enhancing human potential, and creating a more inclusive future of work amidst AI-driven changes. An exclusive pre-conference event on May 21 will feature key industry leaders and will cover topics such as humanizing AI, transforming recruiting, and navigating workforce changes due to green transitions and generative AI. Key sessions include 'AI Transformation: Putting People First' on May 22 and 'Leveling the Field: The Power of Diversity in Business' on May 24. ManpowerGroup will also unveil innovative startups from its 2024 Viva Tech Startup Challenge.
FAQ
What is the current stock price of ManpowerGroup (MAN)?
What is the market cap of ManpowerGroup (MAN)?
What services does ManpowerGroup offer?
How extensive is ManpowerGroup's global reach?
What brands are part of the ManpowerGroup family?
How has ManpowerGroup's financial performance been recently?
What recent partnerships has ManpowerGroup engaged in?
What is ManpowerGroup's approach to technological advancements?
How does ManpowerGroup help bridge skills gaps in the workforce?
What is ManpowerGroup’s mission?
How does ManpowerGroup maintain its ethical standards?
Where can I find more information about ManpowerGroup's latest updates?
