Why ManpowerGroup Shares Are Plunging Today
Portfolio Pulse from Shivani Kumaresan
ManpowerGroup Inc (NYSE:MAN) reported a 4% YoY decline in Q2 FY23 sales to $4.856 billion, slightly beating analyst consensus. The company's gross profit decreased by 6.4% YoY to $862.3 million, and its adjusted EPS of $1.58 missed the analyst consensus of $1.62. The company's challenging operating environment in the U.S. and Europe contributed to revenue declines. The company's Q3 EPS outlook is $1.32-$1.42, lower than the analyst consensus of $1.55. MAN shares are trading lower by 7.78%.
July 20, 2023 | 1:41 pm
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NEGATIVE IMPACT
ManpowerGroup's Q2 FY23 results and Q3 outlook missed analyst expectations, leading to a 7.78% drop in its share price.
ManpowerGroup's lower-than-expected Q2 results and Q3 outlook have negatively impacted investor sentiment, leading to a drop in its share price. The challenging operating environment in the U.S. and Europe has contributed to the company's revenue declines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100