ManpowerGroup Inc. reported first‑quarter 2026 revenue of $4.51 billion, a 10% year‑over‑year increase and a 3% rise in constant currency terms. The growth was driven by strong demand in the core Manpower brand, while the Experis segment experienced softer professional‑services demand, partially offsetting the overall momentum.
GAAP earnings per share fell to $0.05 from $0.12 a year earlier, a decline largely attributable to $0.46 in restructuring and strategic transformation costs. Adjusted EPS, which excludes those one‑time charges, was $0.51 and matched the consensus estimate of $0.51.
Gross margin stood at 16%, below the low end of the company’s guidance range. Management attributed the compression to lower bench utilization in Europe and mix shifts that reduced staffing margin.
Management reiterated its outlook for the second quarter, projecting diluted EPS of $0.91 to $1.01—unchanged from prior guidance—signaling confidence in continued revenue momentum and margin improvement. The company also reaffirmed its transformation program, targeting $200 million in permanent annual cost savings by 2028.
Segment performance varied: the Manpower brand grew, Experis faced soft professional demand, and Talent Solutions experienced headwinds. CEO Jonas Prising noted, "Our Q1 results reflect disciplined execution and continued stabilization of revenue trends across key markets." CFO Jack McGinnis added, "Gross profit margin came in below the low‑end of our guidance range driven by lower bench utilization in Europe and mix shifts impacting staffing margin."
Investors focused on the GAAP earnings miss and margin compression, but also noted the revenue beat and the fact that adjusted EPS met expectations, reflecting a mixed but informative earnings picture.
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