Why ManpowerGroup Shares Are Shooting Higher Today
Portfolio Pulse from Shivani Kumaresan
ManpowerGroup Inc (NYSE:MAN) shares surged after reporting Q1 FY24 results, with a sales decline of 7.3% to $4.40 billion, missing estimates, but adjusted EPS of $0.94 beating the consensus. The company sees Q2 FY24 EPS of $1.24 - $1.34, above estimates, despite a cautious outlook from employers in North America and Europe.
April 18, 2024 | 2:48 pm
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ManpowerGroup Inc reported a mixed Q1 FY24 with a sales miss but an EPS beat, and provided an optimistic Q2 EPS outlook.
Despite missing sales estimates and experiencing a decline in gross profit and operating income, MAN's shares rose due to the adjusted EPS beating estimates and a positive outlook for Q2 FY24. This suggests investors are valuing the earnings beat and forward guidance more than the revenue miss and margin compression.
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IMPORTANCE 90
RELEVANCE 100