ManpowerGroup falls on downbeat earnings forecast

ManpowerGroup

20/07/2023 16:43

** Shares of employment services provider ManpowerGroup Inc
 MAN.N  fall 6.17% to $82.6 
    ** Company sees Q3 EPS between $1.32 and $1.42, vs analysts'
avg. est. of $1.55 - Refinitiv
    ** Posts Q2 adj. EPS of $1.58 vs analysts' est. of $1.62
    ** Stock set to post worst day since April 20, 2023, if
losses continue
    ** Company's Q2 revenue falls 4.3% to $4.86 bln, hurt by
challenging operating environment in the U.S. and Europe and
weak demand for permanent recruitment
    ** Also decides to wind down IT services platform, Proservia
managed services business, in Germany
    ** Stock down 0.57% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))