ManpowerGroup reported net earnings of $0.47 per diluted share for the fourth quarter ended December 31, 2024, a significant improvement from net losses of $1.73 per diluted share in the prior year period. Net earnings for 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, or a 3% decrease on a constant currency basis. Excluding restructuring costs, pension settlements, and net losses from the sale of its Austria business, adjusted earnings per share was $1.02, representing a 27% decrease in constant currency.
For the full year 2024, revenues were $17.9 billion, a 6% decrease compared to the prior year, or a 3% decrease in constant currency. Full year adjusted earnings per share was $4.55, representing a 21% decrease in constant currency.
Jonas Prising, ManpowerGroup Chair & CEO, stated that operating conditions were largely as expected, with stable activity at lower levels in North America and Europe, and good demand elsewhere. The company took additional cost actions, primarily in some of its most challenged European markets.
ManpowerGroup anticipates diluted earnings per share for the first quarter of 2025 to be between $0.47 and $0.57. This guidance includes an estimated unfavorable currency impact of 6 cents and a 36% effective tax rate, reflecting continued caution in the market.
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