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Why is ManpowerGroup (MAN) Stock down?
We've noticed a 5.08% decline in ManpowerGroup (MAN) stock during the 2024-02-13 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
19 Oct, 2023:
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.
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