Manpower’s Profit Drops; Beats Estimates in Q4 Earnings (MAN)
Employment recruiter, Manpower Inc(MAN) reported a decline in profits on Wednesday, but beat analysts expectations.
The Milwaukee WI based company saw a -16% drop in earnings for the fourth quarter, with net income of $53.3 million, or 68 cents per share, down from $63.6 million, or 78 cents per share last year. Adjusted earnings came in at 91 cents per share, down from 98 cents per share last year, but beatings analysts estimate of 77 cents per share.
Revenue declined by -5.1% to $5.2 billion, but beat expectations of $5.13 billion.
For FY2012, earnings came in at $197.6 million, or $2.47 per share, down from $251.6 million, or $3.04 per share from last year. Revenue dropped by 6% to $20.68 billion.
Looking forward, the company estimates first quarter earnings to be the range of 40 cents to 48 cents per share. Analysts expect to see 41 cents per share.
Manpower shares were up $2.01,or 4.14% during Wednesday morning trading. The stock has increased 23% in the past year.
The Bottom Line
Shares of Manpower Inc(MAN) have a 1.71% yield, based on Tuesday’s closing price of $50.38.
Manpower Inc(MAN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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