ManpowerGroup Q3 Adj. EPS Meets Estimates; Guides Q4 EPS Well Below Estimates

(RTTNews) - While reporting financial results for the third quarter on Thursday, workforce solutions provider ManpowerGroup, Inc. (MAN) said it expects earnings for the fourth quarter to be in the range of $0.98 to $1.08, which includes an estimated unfavorable currency impact of $0.01.

The guidance also excludes expected restructuring costs and any Argentina related impact of non-cash currency translation losses.

On average, 11 analysts polled by Thomson Reuters expect the company to report earnings of $1.37 per share for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company reported net earnings of $22.8 million or $0.47 per share, lower than $30.3 million or $0.60 per share in the prior-year quarter. Excluding restructuring costs and a discrete tax item, adjusted earnings for the quarter were $1.29 per share.

Revenues for the quarter declined 3.1 percent to $4.53 billion from $4.68 billion in the same quarter last year. Revenues were down 1.8 percent in constant currency.

The Street was looking for earnings of $1.29 per share on revenues $4.50 billion of for the quarter.

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