ManpowerGroup Posts Q2 2026 Beat as Cash Falls to $180.6 Million

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Summary · why it matters

ManpowerGroup reported second-quarter 2026 adjusted earnings of 99 cents per share, beating the Zacks Consensus Estimate by 3.1% and rising 26.9% from the year-ago quarter, on revenues of $4.86 billion that topped the consensus mark by 3.8% and rose 7.5% year over year, or 5.8% in constant currency. Regional growth was broad-based: Americas revenues rose 14.4% year over year to $1.21 billion, led by a 29% increase in Other Americas to $498 million, while U.S. revenues grew 6% to $714.3 million; Southern Europe revenues rose 7.4% to $2.31 billion, Northern Europe revenues increased 3.9% to $825.5 million, and Asia-Pacific Middle East revenues declined 1.2% on a reported basis to $518.7 million but rose 5% in constant currency. Gross profit rose 2.2% year over year to $780.3 million, though gross margin fell 80 basis points to 16.1% on business mix changes and the sale of the higher-margin Jefferson Wells U.S. business, while selling and administrative expenses fell 15.3% to $668.3 million from $789.0 million, lifting operating profit to $112 million from a $25.3 million loss a year earlier. Management is targeting $200 million in permanent cost savings by 2028 through its transformation program and AI-led productivity initiatives, and maintained its semi-annual dividend at 72 cents per share, with first-half dividend payments of $33.5 million versus $33.3 million a year earlier. The company's cash balance fell to $180.6 million at the end of the second quarter of 2026 from $871 million at the end of 2025, reflecting $585.8 million in long-term debt repayments, with operating activities using $129 million in the first half even as second-quarter free cash flow narrowed to a $9-million outflow from $207 million a year earlier.

Impact on assets 4

Industrials▲
ManpowerGroup Inc
MAN
▲ PositiveCapitalrelevance

Q2 2026 adjusted EPS of 99 cents beat consensus by 3.1% and revenue topped estimates, with operating profit swinging to $112 million from a year-ago loss

Climate Adaptation & Water▲

Off-coverage companies 1

Jefferson Wellsi
Private▼ NegativeCapitalrelevance

Sale of the higher-margin Jefferson Wells U.S. business contributed to an 80 basis point gross margin decline