ManpowerGroup Inc., established in 1948 and headquartered in Milwaukee, Wisconsin, is a prominent global provider of human resources and workforce management solutions. ...
ManpowerGroup Inc. is a publicly traded workforce solutions provider whose roots date to 1948, when Elmer Winter and Aaron Scheinfeld founded Manpower in Milwaukee, Wisconsin. The company helped establish the modern temporary-employment industry and has since expanded from basic staffing into a broad portfolio of labor-market, talent, and outsourced workforce ...ManpowerGroup Inc. is a publicly traded workforce solutions provider whose roots date to 1948, when Elmer Winter and Aaron Scheinfeld founded Manpower in Milwaukee, Wisconsin. The company helped establish the modern temporary-employment industry and has since expanded from basic staffing into a broad portfolio of labor-market, talent, and outsourced workforce services. Its common stock trades on the New York Stock Exchange under the symbol MAN.
The company serves employers across multiple industries and geographic markets. Its offerings include temporary, contract, and permanent placement for administrative, industrial, professional, technical, and specialized roles. Through the Manpower brand, it commonly supports high-volume staffing and general workforce requirements. Experis focuses more heavily on professional and project-based talent, particularly in information technology, engineering, finance, and other areas where specialized skills are in demand. Talent Solutions provides broader services such as recruitment process outsourcing, workforce consulting, career transition, talent assessment, and managed workforce programs. The company has also offered contingent-workforce management and digital or IT infrastructure support through specialized operations and brands.
ManpowerGroup's operating model is primarily service-based rather than manufacturing-based. Consequently, its bill of materials is limited compared with an industrial producer: key cost inputs are employee wages and benefits, recruiter and branch personnel, technology platforms, office operations, marketing, compliance, insurance, and third-party service expenses. In staffing arrangements, the company generally bills clients for labor and service fees while paying wages to temporary or contract workers, making payroll funding, receivables collection, pricing discipline, and utilization important drivers of profitability. Permanent-placement and consulting work can carry different margins and working-capital characteristics from high-volume temporary staffing.
The company reports a global presence of approximately 2,200 offices across about 75 countries and territories and serves hundreds of thousands of clients. Its workforce was reported at approximately 25,400 full-time employees, excluding the much larger population of workers placed with clients. Jonas Prising serves as Chair and Chief Executive Officer and is recognized for expertise in labor markets and the future of work.
Based on the supplied trailing-twelve-month financial snapshot, ManpowerGroup had a market capitalization of approximately $2.63 billion, enterprise value of approximately $3.87 billion, revenue per share of roughly $399.96, net income per share of approximately $2.23, and a dividend of $1.44 per share. The same snapshot indicated relatively thin profitability, including a net profit margin near 0.6%, an EBIT margin near 1.9%, and an EBITDA margin near 2.3%. These characteristics reflect the competitive, cyclical, and labor-intensive nature of staffing services. Demand can be influenced by economic growth, employer hiring plans, unemployment levels, wage inflation, regulation, and the increasing use of automation and digital recruiting tools. ManpowerGroup's strategic objective is to help clients adapt to changing labor markets while improving employability, talent mobility, and workforce productivity.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$18.0B
+0.6%
+7.8%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-13.3M
-109.2%
+2040.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+16.7%
-3.4%
+0.2%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+1.3%
-22.4%
+267.3%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-0.1%
-109.1%
+1886.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-161.4M
-162.5%
+86.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-0.9%
-162.2%
+87.2%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
116.2%
+100.5%
-9.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.11x
-1.2%
-7.2%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Welcome to ManpowerGroup's second quarter earnings results conference call you'll be put into listen-only mode until the question and answer time begins. This call is being recorded if you care to drop off now, please do so. I would now like to turn the call over to ManpowerGroup's Chair and CEO, Mr. Jonas Prising. Sir, you may begin.
Jonas Prising: Good morning, thank you for joining us for our second quarter 2026 conference call. Our Chief Financial Officer, Jack McGinnis, and our President and Chief Strategy Officer, Becky Frankiewicz, are both with me today. For your convenience, our prepared remarks are available in the investor relations section of our website at manpowergroup.com. I'll begin with a brief overview of the quarter, including how we're seeing conditions evolve across our markets, and then I'll share a few updates on our transformation as well as our longer-term objectives. Becky will then provide an update on client momentum and the opportunities we're capturing with AI, followed by Jack, who will walk through the detailed financial results and our guidance for the third quarter of 2026. I'll close with a few comments before we open the line for Q&A. Jack will now cover the Safe Harbor language.
Jack McGinnis: Good morning, everyone. This conference call includes forward-looking statements, including statements concerning economic and geopolitical uncertainty, which are subject to known and unknown risks and uncertainties. These statements are based on management's current expectations or beliefs. Actual results might differ materially from those projected in the forward-looking statements. We assume no obligation to update or revise any forward-looking statements. Slide two of our earnings release presentation further identifies forward-looking statements made in this call and factors that may cause our actual results to differ materially and information regarding reconciliation of non-GAAP measures.
Jonas Prising: Thanks, Jack. During the second quarter, we delivered strong results with revenues ahead of expectations underscored by growing client demand and accelerated delivery of our strategy. Our reported revenues were $4.9 billion, representing constant currency growth of 6%. System-wide revenue, which includes our expanding franchise revenue base, was $5.3 billion. Adjusted EBITDA margin of 2.1% reflects improving demand trends and operating leverage. These results reflect good execution across our brands and markets, continued cost discipline, and improving demand. We continue to leverage our scale and global footprint and focus commercial efforts on verticals where demand is strongest and where we have a clear opportunity to win and capture market share. We are encouraged by our performance across our brands. Specifically, within Manpower, demand indicators have strengthened, and the brand delivered its fifth consecutive quarter of growth, with revenue up 8% in constant currency. We are seeing positive …