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MAN's Q1 Earnings and Revenues Surpass Estimates, Increase Y/Y
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Key Takeaways
MAN beat Q1 earnings and revenue estimates, with EPS up 16% and revenues rising 10.3% year over year.
MAN saw strong growth in Southern Europe and Other Americas, offset by a decline in U.S. revenues.
MAN posted lower-than-expected operating profit and guided Q2 EPS between 91 cents and $1.01.
ManpowerGroup (MAN - Free Report) reported impressive first-quarter 2026 results, with both earnings and revenues beating the respective Zacks Consensus Estimate.
MAN’s adjusted earnings (excluding 46 cents from non-recurring items) were 51 cents per share, which surpassed the Zacks Consensus Estimate by 1 cent and increased 16% from the year-ago quarter’s level. Total revenues were $4.5 billion, which beat the consensus estimate by $171.4 million and improved 10.3% on a year-over-year basis.
ManpowerGroup Inc. Price, Consensus and EPS Surprise
MAN’s shares have lost 22.7% over the past year compared with a 27.4% decline of the industry. The Zacks S&P 500 composite has risen 37.3% over the said time frame.
MAN: Other Quarterly Details
Revenues from America of $1.15 billion were above our expectations of $1.05 billion and increased 5.6% year over year on a reported basis. In the United States, revenues reached $654.9 million, falling short of our estimate of $674.2 million and declining 4.9% year over year. In the Other Americas subgroup, revenues of $460.7 million beat our projection of $383.2 million and increased 25.2% year over year on a reported basis.
Revenues from Southern Europe of $2.10 billion were above our projection of $2.03 billion, rising 14.6% year over year on a reported basis. Revenues from France were $1.06 billion, above our $949.5 million expectation and up 10.7% year over year on a reported basis. Revenues from Italy amounted to $474.7 million, which missed our estimate of $487.5 million but increased 19.3% year over year on a reported basis. The Other Southern Europe sub-segment generated revenues of $558 million, which missed our expectation of $599.3 million but rose 18.6% year over year on a reported basis.
Northern Europe revenues rose 8.1% year over year on a reported basis to $790.1 million, exceeding our estimate of $760.2 million. Asia Pacific and Middle East revenues totaled $510.5 million, outperforming our estimate of $491.3 million and rising 7.1% year over year on a reported basis. The intercompany elimination loss of $7.1 million was wider than our expected loss of $5.5 million but reflected an improvement of 6.6% year over year on a reported basis.
The company registered an operating profit of $28.3 million, which missed our estimate of $54.7 million but was marginally up year over year on a reported basis.
Key Balance Sheet & Cash Flow Figures
ManpowerGroup exited the quarter with a cash and cash equivalents balance of $224.9 million compared with $871 million in the December-end quarter of 2025. The long-term debt balance was $1.03 billion at the end of the first quarter compared with $1.05 billion in the preceding quarter.
During the quarter, the company used $126.3 million of cash from operating activities. Capital expenditures were $9 million. It spent $0.3 million on repurchasing common stock in the quarter.
MAN’s Q2 2026 Guidance
Management guided second-quarter EPS to be in the range of 91 cents to $1.01. The company’s guided range includes an estimated favorable currency impact of 5 cents and a 43% effective tax rate.
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MAN's Q1 Earnings and Revenues Surpass Estimates, Increase Y/Y
Key Takeaways
ManpowerGroup (MAN - Free Report) reported impressive first-quarter 2026 results, with both earnings and revenues beating the respective Zacks Consensus Estimate.
MAN’s adjusted earnings (excluding 46 cents from non-recurring items) were 51 cents per share, which surpassed the Zacks Consensus Estimate by 1 cent and increased 16% from the year-ago quarter’s level. Total revenues were $4.5 billion, which beat the consensus estimate by $171.4 million and improved 10.3% on a year-over-year basis.
ManpowerGroup Inc. Price, Consensus and EPS Surprise
ManpowerGroup Inc. price-consensus-eps-surprise-chart | ManpowerGroup Inc. Quote
MAN’s shares have lost 22.7% over the past year compared with a 27.4% decline of the industry. The Zacks S&P 500 composite has risen 37.3% over the said time frame.
MAN: Other Quarterly Details
Revenues from America of $1.15 billion were above our expectations of $1.05 billion and increased 5.6% year over year on a reported basis. In the United States, revenues reached $654.9 million, falling short of our estimate of $674.2 million and declining 4.9% year over year. In the Other Americas subgroup, revenues of $460.7 million beat our projection of $383.2 million and increased 25.2% year over year on a reported basis.
Revenues from Southern Europe of $2.10 billion were above our projection of $2.03 billion, rising 14.6% year over year on a reported basis. Revenues from France were $1.06 billion, above our $949.5 million expectation and up 10.7% year over year on a reported basis. Revenues from Italy amounted to $474.7 million, which missed our estimate of $487.5 million but increased 19.3% year over year on a reported basis. The Other Southern Europe sub-segment generated revenues of $558 million, which missed our expectation of $599.3 million but rose 18.6% year over year on a reported basis.
Northern Europe revenues rose 8.1% year over year on a reported basis to $790.1 million, exceeding our estimate of $760.2 million. Asia Pacific and Middle East revenues totaled $510.5 million, outperforming our estimate of $491.3 million and rising 7.1% year over year on a reported basis. The intercompany elimination loss of $7.1 million was wider than our expected loss of $5.5 million but reflected an improvement of 6.6% year over year on a reported basis.
The company registered an operating profit of $28.3 million, which missed our estimate of $54.7 million but was marginally up year over year on a reported basis.
Key Balance Sheet & Cash Flow Figures
ManpowerGroup exited the quarter with a cash and cash equivalents balance of $224.9 million compared with $871 million in the December-end quarter of 2025. The long-term debt balance was $1.03 billion at the end of the first quarter compared with $1.05 billion in the preceding quarter.
During the quarter, the company used $126.3 million of cash from operating activities. Capital expenditures were $9 million. It spent $0.3 million on repurchasing common stock in the quarter.
MAN’s Q2 2026 Guidance
Management guided second-quarter EPS to be in the range of 91 cents to $1.01. The company’s guided range includes an estimated favorable currency impact of 5 cents and a 43% effective tax rate.
ManpowerGroup currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Some top-ranked stocks in the broader Zacks Business Services sector are WEX Inc. (WEX - Free Report) and Coherent Corp. (COHR - Free Report) .
WEX carries a Zacks Rank #2 (Buy) at present. It has a long-term earnings growth expectation of 8.6%.
WEX delivered a trailing four-quarter earnings surprise of 4.6%, on average.
Coherent Corp. also holds a Zacks Rank of 2 at present. It has a long-term earnings growth expectation of 38.1%.
COHR beat earnings estimates in each of the last four quarters, with the earnings surprise being 7.7%, on average.