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# ManpowerGroup Third-Quarter Net Earnings Rise To $34.1 Million From $18.0 Million, And Fourth-Quarter EPS Guide Is $1.03 To $1.13
- URL: https://www.bullished.co/manpowergroup-third-quarter-net-earnings-rise-to-34-1-million-from-18-0-million-and-fourth-c46e5ecf/
- Published: 2026-10-15T11:50:58.000Z
- Updated: 2026-10-15T11:50:58.000Z
- Description: Revenue reached $4.8 billion as U.S. Experis returned to growth, while nine-month cash use was $137.0 million.
- Author: Matteo Parrino
- Tags: Earnings, MAN, Industry: Industrials

ManpowerGroup's third-quarter [net earnings were $34.1 million](https://www.sec.gov/Archives/edgar/data/0000871763/000119312526422291/man-ex99%5F1.htm?ref=bullished.co), or $0.71 per diluted share, against $18.0 million, or $0.38, a year earlier, according to an [8-K filed Thursday](https://www.sec.gov/Archives/edgar/data/0000871763/000119312526422291/man-20261015.htm?ref=bullished.co). Revenue was $4.8 billion, and the company said Becky Frankiewicz will become CEO on January 1, 2027.

## What the results show

Revenue rose 4% as reported, 5% in constant currency and 6% on an organic constant-currency basis. The company said the Manpower brand led, particularly in the United States, where revenue was up 5.5% to $728.8 million.

Charges for restructuring, transformation costs, a business sale adjustment and Argentina currency translation losses cut earnings by $0.30 per share. Without them, earnings were $1.01 per diluted share, up 24% in constant currency.

Selling and administrative expenses fell to $685.0 million from $702.3 million, while gross profit was $767.3 million versus $768.9 million. Operating profit was $82.3 million, up from $66.6 million.

Northern Europe posted an operating unit profit of $7.5 million after a $14.9 million loss. France fell to $22.4 million from $30.6 million. In the slide deck, Experis revenue was flat on an organic constant-currency basis, improved from a 2% decline in the second quarter, and U.S. Experis returned to growth.

For the first nine months, net earnings were $90.1 million, versus a $43.5 million loss a year earlier, on revenue of $14.2 billion.

## Cash and the balance sheet

Cash used in operating activities for the first nine months was $137.0 million, versus $283.0 million used a year earlier. Cash on hand fell to $233.1 million from $871.0 million at year-end, after $585.9 million of long-term debt repayments.

The [presentation](https://www.sec.gov/Archives/edgar/data/0000871763/000119312526422291/man-ex99%5F2.htm?ref=bullished.co) said timing of managed-services payments at the end of the quarter hurt free cash flow and will help the fourth quarter. Without those items, it said, free cash flow would have been a $75 million inflow.

## Outlook and the CEO change

The company expects fourth-quarter earnings of $1.03 to $1.13 per diluted share on a 44% tax rate. It guides total revenue up 3% to 7%, both as reported and in constant currency.

Jonas Prising, the current chair and CEO, said "2026 is an inflection point for the business." He will move to Executive Chair when Frankiewicz takes over.

The global transformation program expanded to the U.K. in the third quarter and remains on track for a $200 million cost savings target in 2028, the company said.

Fourth-quarter results will test the $1.03 to $1.13 guide, and Frankiewicz takes over as CEO on January 1, 2027.

### Sources

- [8-K Filing — ManpowerGroup Inc. (MAN)](https://www.sec.gov/Archives/edgar/data/0000871763/000119312526422291/man-20261015.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit man-ex99\_1.htm — ManpowerGroup Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000871763/000119312526422291/man-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit man-ex99\_2.htm — ManpowerGroup Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000871763/000119312526422291/man-ex99%5F2.htm?ref=bullished.co) — SEC EDGAR