Manpowergroup (ORD) MAN

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Manpowergroup (ORD) MAN


...Aber besser als erwartet und der Kurs steigt:

19-10-2012 13:53  DJ Manpower 3rd-Quarter Net Down 21% on Southern Europe Weakness
Name Letzter Veränderung
MANPOWERGROUP ORD   39.18  3.20 (8.89 Wacko

   By Ben Fox Rubin
ManpowerGroup's (MAN) third-quarter earnings fell 21% as the temporary-staffing company saw revenue declines in all three of its major regions, led by southern Europe.

Chief Executive Jeffrey A. Joerres said the economic environment for the company "continues to be challenging," though added the company has worked hard to stabilize its gross margin and focus on costs and efficiency.

Additionally, despite the weaker results, both profit and revenue were better than expected.

The company forecast 72 cents to 80 cents a share in earnings for the current quarter, not including anticipated reorganization charges, ahead of estimates of 70 cents a share from analysts polled by Thomson Reuters.

The staffing industry bellwether had seen its revenue increase in recent years as companies' reluctance to hire permanent staff has driven demand for temporary labor. Manpower recently has been cautiously optimistic about its prospects, particularly as overall labor demand remains weak in key markets such as the U.S.

The company reported a profit of $63.1 million, or 79 cents a share, down from $79.6 million, or 97 cents a share, a year earlier. The company had forecast per-share earnings of 64 cents to 72 cents.

Revenue from services fell 11% to $5.17 billion, beating analysts' estimates of $5.11 billion.

Gross margin edged up to 16.6% form 16.5%.

Revenue from the Americas fell 5% in the latest quarter. Revenue was down 11% in northern Europe and down 17% in southern Europe, its biggest region by revenue.

Shares closed Thursday at $35.98 and were inactive premarket. The stock is up 0.6% so far in 2012.

Write to Ben Fox Rubin at

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October 19, 2012 07:53 ET (11:53 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.