Page 1

ManpowerGroup ManpowerGroup Reports 2nd Quarter 2021 Results July 20 , 2021 - 41 % revenue increase in the quarter ( 31 % increase on a constant currency basis ) - All brands recorded significant quarterly year - over - year revenue growth , as Manpower and Experis experienced increased demand for staffing and permanent recruitment and Talent Solutions experienced strong growth , led by RPO and MSP - Operating profit of $ 170 million in the quarter - $ 50 million of common stock repurchased during the quarter MILWAUKEE , July 20 , 2021 / PRNewswire / -- ManpowerGroup ( NYSE : MAN ) today reported net earnings of $ 2.02 per diluted share for the three months ended June 30 , 2021 compared to net losses of $ 1.11 per diluted share in the prior year period . Net earnings in the quarter were $ 111.6 million compared to net losses of $ 64.4 million a year earlier . Revenues for the second quarter were $ 5.3 billion , a 41 % increase from the prior year period . Financial results in the quarter were impacted by the weaker U.S. dollar relative to foreign currencies compared to the prior year period , resulting in a 13 cents positive impact to earnings per share in the quarter compared to the prior year . On a constant currency basis , revenues increased 31 % compared to the prior year period . Excluding the prior year impact of special items , on a constant currency basis , net earnings per diluted share increased 938 % during the quarter . Days Sales Outstanding improved by 1.9 days year over year reflecting our continued focus on collections and working capital efficiency . Jonas Prising , ManpowerGroup Chairman & CEO , said , " Our second quarter results reflect an improving global economic environment and increased demand for our services across our key markets and brands . As restrictions continued to ease worldwide , we saw the benefit of our diversified portfolio of services and workforce solutions . Our Manpower business rebounded strongly , our Experis business improved significantly during the quarter and our Talent Solutions offerings continued to deliver against the strong demand for global workforce solutions . We also made significant progress in the ongoing execution of our strategic initiatives , particularly in the implementation of new technology across the globe . We are encouraged by the current momentum that we are experiencing across our offerings and confident in our team's ability to continue to deliver value to all our stakeholders . We anticipate diluted earnings per share in the third quarter will be between $ 1.86 and $ 1.94 , which includes an estimated favorable currency impact of 4 cents . " Net earnings for the six months ended June 30 , 2021 were $ 173.6 million , or net earnings of $ 3.13 per diluted share compared to net losses of $ 62.7 million , or net losses of $ 1.07 per diluted share in the prior year . The prior year to date period included special items and restructuring costs which reduced earnings per share by $ 2.07 . Revenues for the six - month period were $ 10.2 billion , an increase of 22 % from the prior year or an increase of 14 % in constant currency . Earnings per share for the six - month period were positively impacted by 20 cents due to changes in foreign currencies compared to the prior year . In conjunction with its second quarter earnings release , ManpowerGroup will broadcast its conference call live over the Internet on July 20 , 2021 at 7:30 a.m. CDT ( 8:30 a.m. EDT ) . Prepared remarks for the conference call are included within the Investor Relations section of our website at manpowergroup.com . Interested parties are invited to listen to the webcast and view the presentation by logging on to http://investor.manpowergroup.com/in the section titled " Investor Relations . " Supplemental financial information referenced in the conference call can be found at http://investor.manpowergroup.com/ . About ManpowerGroup ManpowerGroup® ( NYSE : MAN ) , the leading global workforce solutions company , helps organizations transform in a fast - changing world of work by sourcing , assessing , developing and managing the talent that enables them to win . We develop innovative solutions for hundreds of thousands of organizations every year , providing them with skilled talent while finding meaningful , sustainable employment for millions of people across a wide range of industries and skills . Our expert family of brands - Manpower , Experis and Talent Solutions - creates substantially more value for candidates and clients across more than 75 countries and territories and has done so for over 70 years . We are recognized consistently for our diversity - as a best place to work for Women , Inclusion , Equality and Disability and in 2021 ManpowerGroup was named one of the World's Most Ethical Companies for the 12th year - all confirming our position as the brand of choice for in - demand talent . Forward - Looking Statements This news release contains statements , including statements regarding economic uncertainty , the global recovery , financial outlook , the Company's strategic initiatives and technology investments and its positioning for future growth , as well as the potential impacts of the COVID - 19 pandemic and the Company's efforts to respond to such impacts , that are forward - looking in nature and , accordingly , are subject to risks and uncertainties regarding the Company's expected future results . The Company's actual results may differ materially from those described or contemplated in the forward looking statements due to numerous factors . These factors include those found in the Company's reports filed with the SEC , including the information under the heading " Risk Factors " in its Annual Report on Form 10 - K for the year ended December 31 , 2020 , which information is incorporated herein by reference .