ManpowerGroup (NYSE:MAN) unveiled its second quarter earnings results on Monday 20th July 2020 before market open.
The provider of workforce solutions and services, reported $ 1.10 loss per share for the quarter.
The firm had revenue of $ 3,742.20 million for the quarter, compared to the consensus estimate of $ 3591.50 million. The revenues outshined analysts estimates by $ 150.70 million or 4.20 percent.
The financial report showed revenues fell 30.35 percent versus second quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Jonas Prising, ManpowerGroup Chairman & CEO, said, The world continues to be impacted by COVID-19 which started as a health crisis and evolved to become a global economic and social crisis. While certain regions continue to deal with the pandemic at elevated levels, elsewhere lockdowns are easing, economies are slowly re-opening and people are returning to work.
Further, the company announced 3Q20 earnings estimate to a range of $ 0.59 ~ $ 0.67 per share, which includes an estimated unfavorable currency impact of 1 cent and an elevated effective tax rate due to the French Business Tax which will have an unfavorable impact of 7 cents. Our third quarter guidance reflects our assumptions as of today and does not anticipate any major rollbacks of economic reopening activities in any of our largest markets.
The consensus estimates for the 3Q20 are income of $ 0.66 per share from $ 4099.25 million in revenue.
