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Milwaukee-based ManpowerGroup today reported first quarter net earnings of $40.2 million, or 50 cents per share, up from $35.7 million, or 43 cents per share, in the same period a year ago.
The staffing solutions company’s quarterly revenues were flat at about $5.1 billion, up 3 percent in constant currency.
Net earnings in the first quarter were negatively impacted by 2 cents per diluted share, as foreign currencies were relatively weaker compared with the prior year period.
Jeffrey Joerres, ManpowerGroup chairman and chief executive officer, said, "We were able to achieve very solid profitability despite the continued headwinds of slow economic growth. Our geographic foot print, wide range of offerings and very good expense management contributed to the strong quarter. Our workforce solutions business continued to grow by solid double digits while our permanent recruitment business continues to outpace last year. We anticipate second quarter earnings per share will range between 68 cents to 76 cents. This includes an unfavorable impact of 4 cents per share related to currency changes in the quarter."
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