The following is a summary of the ManpowerGroup Inc. (MAN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• ManpowerGroup's revenue for Q1 2024 was $4.4 billion, a 5% decrease YoY.

• Earnings per diluted share were $0.81 on a reported basis and $0.94 on an adjusted basis, a 39% YoY decrease in constant currency.

• The adjusted operating profit (EBITA) was $80 million, marking a 38% decline YoY.

• The reported net earnings per share were $0.81.

• Their gross profit came in at 16.8% in the first quarter of 2024, marking slight improvement.

Business Progress:

• ManpowerGroup is investing in digital transformation to adapt to changes in talent demand within industries such as AI, green transition sectors, and digital transformations across various industries.

• They've opened a Global Business Services center in Portugal, which aligns with their digitization strategy.

• ManpowerGroup has established an Ethical AI Committee to navigate potential AI-related risks.

• Despite present challenges in North America and Europe, their outlook for the second quarter of 2024 anticipates earnings per share to be within the range of $1.24 to $1.34.

• ManpowerGroup continues to refine their acquisition strategy, primarily focusing on IT resourcing.

• They are proactively adjusting staff and resources to mitigate near-term effects and are ready for potential rebounds in their industry.

More details: ManpowerGroup IR

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