Manpowergroup (MAN)

ManpowerGroup Stock (MAN) dropped by 2.40% from $71.21 to $69.50 in the trading on Thursday October 19, 2023. The reason why MAN stock down today is due to the ** third-quarter FY23 results**. Financial results in the quarter were also impacted by the weaker U.S. dollar relative to foreign currencies compared to the prior year period.

• Revenues from services declined 2.6% year-on-year to $4.676 billion, missing the analyst consensus of $4.70 billion. Revenues fell 5% at constant currency. Challenging North American and European operating environments are the primary cause of revenue decline.
• Gross profit decreased 6.4% Y/Y to $821.9 million with a gross margin of 17.6%.
• Selling and administrative expenses increased 4.9% for the quarter to $752.1 million.