ManpowerGroup reported net losses of $1.44 per basic share for the second quarter ended June 30, 2025, compared to net earnings of $1.24 per diluted share in the prior year period. Net losses in the quarter were $67.1 million, a significant shift from net earnings of $60.1 million a year earlier.
Revenues for the second quarter were $4.5 billion, flat from the prior year period, representing a 3% decrease in constant currency and a 1% decrease on an organic constant currency basis. The current quarter included a non-cash goodwill and intangible asset impairment charge of $88.7 million ($55 million on Switzerland and $34 million on U.K. businesses), restructuring costs, and net losses from the sale of businesses, which reduced EPS by $2.22.
Excluding these charges, adjusted earnings per share was $0.78, representing a 43% decrease in constant currency. Jonas Prising, ManpowerGroup Chair & CEO, noted that demand remained mixed across global markets, but positive signs of stabilization were beginning to appear in the US and parts of Europe.
For the six months ended June 30, 2025, net losses were $61.5 million, or $1.32 per basic share, compared to net earnings of $99.8 million, or $2.05 per diluted share, in the prior year. Revenues for the six-month period were $8.6 billion, a 3.5% decrease reported and a 4.0% decrease in constant currency.
ManpowerGroup anticipates diluted earnings per share for the third quarter to be between $0.77 and $0.87. This guidance includes an estimated favorable currency impact of 3 cents and a 48.0% effective tax rate, reflecting ongoing market adjustments and strategic investments.
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