ManpowerGroup Inc. reported a significant decline in financial performance for the first quarter of 2025, with revenues from services totaling $4,090.3 million, down 7.1% from $4,403.3 million in the same period last year. The company's gross profit also decreased to $698.3 million, reflecting a gross profit margin of 17.1%, a slight drop from 17.3% in the prior year. Operating profit fell sharply by 57.2% to $28.2 million, resulting in a reduced operating profit margin of 0.7%. Net earnings were reported at $5.6 million, or $0.12 per diluted share, compared to $39.7 million, or $0.81 per diluted share, in the first quarter of 2024.
The decline in revenue was attributed to several factors, including a decrease in demand for staffing services across various regions, particularly in Southern and Northern Europe, where revenues fell by 7.4% and 16.0%, respectively. The Americas segment, however, saw a modest revenue increase of 2.0%, driven by higher demand for Manpower staffing services. The unfavorable impact of currency exchange rates also contributed to the overall revenue decline, with a reported -2.5% effect on revenues and a $0.01 impact on diluted earnings per share.
Operationally, ManpowerGroup experienced a restructuring cost of $15.8 million in the first quarter, a notable change from the absence of such costs in the previous year. The company also repurchased 0.4 million shares of its common stock during the quarter, as part of a broader share repurchase program authorized in August 2023. As of March 31, 2025, the company had 46,282,435 shares of common stock outstanding.
Looking ahead, ManpowerGroup anticipates continued challenges in the business environment, particularly in Europe and North America, where employers are cautious about expanding their workforce amid macroeconomic uncertainties. The company expects that these conditions may further impact its operations in the upcoming quarters. Despite these challenges, there are indications of increased demand in Latin America and Asia Pacific, which may provide some offset to the declines experienced in other regions. The company remains focused on managing its costs and leveraging its operational capabilities to navigate the current economic landscape.
About ManpowerGroup Inc.
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