Here are the 10-Q quarterly reports from ManpowerGroup (MAN) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MAN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MAN filings page.
ManpowerGroup Inc. reported third-quarter revenue from services of $4,840.0 million and net earnings of $34.1 million for the period ended September 30, 2026, compared with $4,634.4 million and $18.0 million, respectively, a year earlier. Diluted earnings per share were $0.71, versus $0.38.
For the first nine months of 2026, revenue from services was $14,210.6 million and net earnings were $90.1 million, compared with $13,244.0 million and a $43.5 million net loss in 2025. Cash used in operating activities was $137.0 million, compared with $283.0 million. Cash and cash equivalents totaled $233.1 million as of September 30, 2026, versus $871.0 million as of December 31, 2025.
ManpowerGroup sold Jefferson Wells U.S. on April 30, 2026, for a transaction value of $100.0 million; net cash proceeds were $87.5 million and the company recognized a one-time net gain of $28.3 million. The June 30 liquidation of its previously discontinued Venezuela operations resulted in a one-time net loss of $5.5 million. Nine-month restructuring costs were $30.6 million, and the remaining reserve was $19.0 million as of September 30, 2026; the company expects a majority to be paid by the end of 2026.
ManpowerGroup Inc. reported higher revenue and a return to profitability for the three and six months ended June 30, 2026. Revenue from services was $4,860.2 million for the quarter and $9,370.6 million year-to-date, compared with $4,519.3 million and $8,609.6 million a year earlier. Operating profit was $112.0 million for the quarter versus an operating loss of $25.3 million in 2025, leading to net earnings of $53.5 million for the quarter and $56.0 million for the first half, compared with net losses of $67.1 million and $61.5 million in the prior-year periods.
Cash used in operating activities was $129.0 million in the first half of 2026, while $636.8 million was used in financing activities, including $585.8 million of long-term debt repayments, reducing cash and cash equivalents from $871.0 million at year-end to $180.6 million. On April 30, 2026, the company sold its Jefferson Wells U.S. business for a transaction value of $100.0 million, generating $87.5 million of net cash proceeds and a $30.0 million gain. It also recorded $22.6 million of restructuring costs and a $5.5 million loss from liquidating discontinued Venezuela operations. Total assets were $8,374.9 million and shareholders’ equity was $2,106.4 million at June 30, 2026.
ManpowerGroup reported first-quarter 2026 revenue of $4,510.4 million, up 10.3% year over year (2.9% in constant currency), driven mainly by staffing growth in Southern Europe, Northern Europe and APME, and favorable exchange rates. Gross profit rose modestly to $723.0 million, but gross margin fell to 16.0% from 17.1% due to mix shifts toward large enterprise clients, lower bench utilization and weaker permanent recruitment and MSP activity.
Selling and administrative expenses increased 3.7% to $694.7 million, including higher corporate costs from a global strategic transformation program, partially offset by savings from earlier restructuring. Operating profit was essentially flat at $28.3 million and margin slipped to 0.6%. Net earnings dropped to $2.5 million, with diluted EPS of $0.05, largely reflecting an 83.8% effective tax rate driven by mix of earnings, restructuring, valuation allowances and French taxes.
Operating cash flow was a use of $126.3 million, improved from $153.2 million a year earlier, while cash and equivalents fell to $224.9 million after redeeming €500.0 million of notes, leaving long-term debt at $1,034.3 million. A subsequent event saw the sale of the U.S. Jefferson Wells business for $100 million, expected to generate a gain in the second quarter of 2026.
ManpowerGroup (MAN) filed its Q3 2025 report, showing modest top-line growth but softer profits. Revenue was $4,634.4 million, up slightly from $4,530.2 million a year ago. Operating profit was $66.6 million versus $70.8 million, and net earnings were $18.0 million ($0.38 diluted EPS) compared with $22.8 million ($0.47) last year. Gross profit was $768.9 million against $782.1 million as cost of services rose.
Year to date, revenue was $13,244.0 million versus $13,454.2 million, with a net loss of $43.5 million reflecting $88.7 million of non-cash impairment charges recognized earlier in 2025 and higher interest and other expenses. Cash from operations was a use of $283.0 million versus an inflow of $61.6 million last year, reducing cash to $274.6 million from $509.4 at year-end. Short-term borrowings and current maturities increased to $747.8 million while long-term debt decreased to $468.3 million. The effective tax rate was 66.0% in Q3 and 256.2% year to date, driven by non-deductible items and mix. Restructuring costs were $51.6 million year to date, including $21.4 million in Q3, with a $43.7 million reserve remaining, largely expected to be paid by the end of 2025. Shares outstanding were 46,297,180 at October 29, 2025.