ManpowerGroup Q3 Earnings: A Bit More Of The Same, No Rush To Invest

Summary

• ManpowerGroup's Q3 '24 results showed mixed performance, with revenues slightly above expectations but EPS below, leading to a nearly 10% share price drop.
• The company's guidance for Q4, with lower-than-expected EPS and declining revenues, suggests continued market weakness and uncertainty.
• Despite cautious optimism, I see no clear signs of recovery; thus, I maintain a hold rating, awaiting better market conditions.
• Financially, ManpowerGroup remains stable, with operating income covering debt interest, but I'm not rushing to invest due to ongoing economic uncertainties.

Luis Alvarez

Introduction

ManpowerGroup (NYSE:MAN) recently reported its Q3 ’24 results that did not sit well with investors. I wanted to go through the numbers and give my thoughts on where the company is heading going forward.

Uncertainty is still the name

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.