Today Manpower Group revealed that net earnings per diluted share for the three months ended September 30, 2016 were $1.87 compared to $1.61 in the prior year period. Net earnings in the quarter were $129.2 million compared to $123.9 million a year earlier. Revenues for the third quarter were $5.1 billion, an increase of 2% from the year earlier period.
Financial results in the quarter were impacted by the stronger U.S. dollar relative to several foreign currencies compared to the prior year period. On a constant currency basis, revenues increased 4% and net earnings per diluted share increased 18%. Earnings per share in the quarter were negatively impacted 3 cents by changes in foreign currencies compared to the prior year.
In a statement Jonas Prising, Manpower Group Chairman & CEO, said, "We executed well in the third quarter despite continued soft and uneven market conditions globally. This slow growth environment results in our services and solutions becoming increasingly more attractive to companies that need operational and strategic flexibility.”
“We have seen this translate into continued strong growth in our permanent recruitment and market leading workforce solutions offerings. As we look to the fourth quarter we are well placed to seize further opportunities across all our brands.”
"We are anticipating the fourth quarter of 2016 diluted net earnings per share to be in the range of $1.65 to $1.73, which includes an estimated unfavorable currency impact of 2 cents," Prising stated.