Manpowergroup Stock Price, News & Analysis

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.

Right Management, part of the ManpowerGroup, unveiled its first report in the 'State of Careers' series, titled 'The Engagement Illusion.' Released on May 16, 2024, the report highlights a significant disconnect between leaders' perceptions and the reality of employee engagement and loyalty. Based on surveys of over 400 leaders and 1,000 employees in the U.S. and Canada, findings reveal that 83% of leaders believe their workforce is fully engaged, compared to only 48% of employees. Additionally, while 75% of employees express a desire to stay with their organization, half are open to new opportunities. Mid-career employees are the least engaged and most likely to seek new jobs. The report emphasizes the need for investment in employee development to enhance engagement and retention.