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ManpowerGroup Reports Third-Quarter 2014 Results

PR Newswire (10/21/14)

ManpowerGroup reported revenue of $5.4 billion in the third quarter of 2014, up 4.4% (4.6% in constant currency) from $5.2 billion in the third quarter of 2013. Net earnings totaled $130.5 million, up 37.8% (37.4% in constant currency) from $94.7 million in the year-ago quarter. “While the economic recovery has recently become more choppy in some markets, we are still seeing growth opportunities,” said Jonas Prising, ManpowerGroup chief executive officer. “The U.S. market continued its path of good growth,” he added during the investors’ conference call. U.S. revenue totaled $800.5 million in the 2014 third quarter, up 5.1% (5.1% in constant currency) from $761.8 million in the 2013 third quarter.

Within the company’s U.S. operations, industrial segment revenues were up 11%; permanent placement fees were up 14%; information technology segment revenues were up 3%; and revenues for ManpowerGroup Solutions, the company’s recruitment process outsourcing business, were up 23%. Revenues for the finance and accounting and the engineering segments were down slightly.