ManpowerGroup (NYSE: MAN) shares moved upward Thursday, on reporting fourth-quarter numbers. The company said net earnings came in at $0.47 per diluted share for the three months ended December 31, 2024 compared to net losses of $1.73 per diluted share in the prior year period. Net earnings in the quarter were $22.5 million compared to net losses of $84.5 million a year earlier. Revenues for the fourth quarter were $4.4 billion, a 5% decrease from the prior year period.
The current year quarter included restructuring costs, pension settlements and net losses from the sale of our Austria business, which will be operated as a franchise going forward, which reduced earnings per share by $0.55 in the fourth quarter. Excluding these charges, earnings per share was $1.02 per diluted share in the quarter representing a decrease of 27% in constant currency.
Financial results in the quarter were also impacted by the U.S. dollar relative to foreign currencies compared to the prior year period.3 On a constant currency basis, revenues decreased 3% compared to the prior-year period.
CEO Jonas Prising said, “The operating conditions experienced across our regions came in largely as expected during the quarter with relatively stable activity at lower levels across North America and Europe and good demand elsewhere. We took additional cost actions during the quarter, primarily in some of our most challenged European markets.”
MAN shares took on 16 cents to $60.54.
