Shares of workforce solutions provider Manpowergroup Inc (MAN) were up in early trading on Friday, despite the fact that the company reported lower profit and revenue in the first quarter. Adjusted profit and revenue topped Wall Street estimates, however.
The Milwaukee, Wisconsin-based company reported a first quarter net income of $23.9 million, or 31 cents per share, down from $40.2 million, or 50 cents per share, a year ago.
The quarter’s earnings included charges and other costs that amounted to $34.8 million, or 32 cents per share. Adjusting for those charges, the company earned 63 cents in the quarter. According to analysts polled by Thomson Reuters, this topped views as the company was expected to earn 46 cents per share.
Manpower’s quarterly revenue fell to $4.768 billion from $5.096 billion last year. Analysts were expecting revenues of $4.76 billion. This slight beat was seen as a positive by investors, as they have been hoping for growth from the company.
Looking ahead to the second quarter, the company is expecting to earn between 84 cents and 92 cents per share, prior to restructuring charges. This is well above the analysts’ estimates that the company will earn 77 cents per share in the second quarter.
Manpowergroup shares were up $4.96, or +9.63%, during Friday morning trading. The stock is up +32.3% year-to-date.
The Bottom Line
Shares of Manpowergroup (MAN) have a dividend yield of 1.52% based on Friday’s intraday trading price of $56.47 and the company’s annualized dividend payout of 86 cents per share.
Manpowergroup Inc (MAN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.