Stock Monitor: Heidrick & Struggles Intl. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 4, 2018 / If you want access to our free earnings report on ManpowerGroup Inc. (NYSE: MAN) all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MAN. The Company posted its financial results on April 20, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The leading American global workforce solutions Company surpassed the estimated revenue numbers for Q1 FY18. In addition, the Company raised its guidance for Q2 FY18. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
ManpowerGroup's total revenues grew 16% to $5.52 billion in Q1 FY18 compared to $4.76 billion in the prior year's same period, primarily due to an improvement in operating metrics and favorable foreign currency movements. The Company's revenue numbers for the reporting quarter exceeded market expectations of $5.38 billion.
For Q1 FY18, ManpowerGroup reported a gross profit of $885.4 million versus $787.8 million in the year-earlier comparable quarter.
During Q1 FY18, ManpowerGroup earned a net income of $97.0 million compared to $74.4 million in the year-ago corresponding period. This marked an increase of 30% in net income in the reported quarter compared to Q1 FY17.
The Company reported an increase in earnings per share (EPS) of 32% to $1.46 in the reported quarter compared to $1.10 in Q1 FY17.
ManpowerGroup operates through five segments, namely (i) Americas; (ii) Southern Europe; (iii) Northern Europe; (iv) APME; and (v) Right Management.
ManpowerGroup's Americas segment's revenues declined 0.3% to $1.02 billion in Q1 FY18 versus $1.03 billion in Q1 FY17, due to lower revenues from its Experis and ManpowerGroup Solutions business. The segment's operating unit profit (OUP) was $42.9 million in Q1 FY18 versus $38.7 million in the year-ago same quarter, reflecting an increase of 10.9%.
ManpowerGroup's Southern Europe segment's revenues increased 28.2% to $2.31 billion in the reported quarter compared to $1.80 billion in Q1 FY17, due to a growth in permanent recruitment and strong businesses across France and Italy. During Q1 FY18, the segment's OUP increased 19.9% to $97.7 million compared to $81.5 million in Q1 FY17.
ManpowerGroup's Northern Europe segment's revenues were $1.42 billion in Q1 FY18 versus $1.24 billion in the prior year's comparable quarter. This marked an increase of 14.4% in the reported quarter, primarily driven by a strong growth in Poland, Finland, and Russia. The segment's OUP grew 40.7% to $16.6 million in Q1 FY18 versus $11.8 million in Q1 FY17.
ManpowerGroup's APME segment generated total revenues of $720.2 million in Q1 FY18 compared to $632.4 million in Q1 FY17. This represented an increase of 13.9%, backed by a growth in India, China, and other APME countries like Taiwan, Malaysia, and Singapore. The segment's OUP increased 28.4% to $25.9 million in Q1 FY18 compared to $20.1 million in Q1 FY17.
ManpowerGroup's Right Management segment's revenues declined 10.6% to $50 million in Q1 FY18 compared to $56.0 million in Q1 FY17, primarily due to reduced career placement activities. The segment's OUP decreased 27% to $6.4 million in Q1 FY18 compared to $8.8 million in the year-ago corresponding quarter.
As of March 31, 2018, ManpowerGroup's cash and cash equivalents stood at $552.2 million compared to $724.4 million as of March 31, 2017.
The Company used $58.4 million of cash in its operating activities in the reported quarter compared to $191 million in Q1 FY17.
During Q1 FY18, the Company reported a negative free cash flow of $71 million versus positive $180 million in the year-ago same quarter.
Guidance for Q2 FY18
The Company targets to raise its total revenues by 13% to 15% on a y-o-y basis for the upcoming quarter. In addition, for Q2 FY18, ManpowerGroup is expecting revenues to increase by 2% in the Americas segment; to jump by 20% to 22% in the Southern Europe segment; to grow by 14% to 16% in the Northern Europe segment; and to be up by 11% to 13% in the APME segment; but to drop by 3% to 5% in the Right Management segment.
ManpowerGroup anticipates EPS to be in the range of $2.33 - $2.41 for Q2 FY18.
Stock Performance Snapshot
May 3, 2018 - At Thursday's closing bell, ManpowerGroup's stock fell 1.38%, ending the trading session at $94.98.
Volume traded for the day: 650.22 thousand shares.
After yesterday's close, ManpowerGroup's market cap was at $6.32 billion.
Price to Earnings (P/E) ratio was at 13.06.
The stock has a dividend yield of 1.96%.
The stock is part of the Services sector, categorized under the Staffing & Outsourcing Services industry.
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