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Get filing alertsManpowerGroup swings to Q2 profit of $1.13/share, sells Jefferson Wells U.S. for $100M
Filed July 16, 2026 · Period ending July 16, 2026 · ~1 min read
Key Changes
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Q2 2026 earnings of $1.13/share vs. loss of $1.44/share prior year; revenue up 8% to $4.9B driven by U.S., Latin America, APME, and select European markets. Adjusted EPS of $0.99 (excluding one-time items) up 27% constant currency.
Exhibit 99.1 view on EDGAR → -
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Q3 2026 guidance: EPS $0.96–$1.06 (includes 2¢ unfavorable currency impact, 44% tax rate); revenue growth 3–7% constant currency, EBITA margin 2.1–2.3%.
Exhibit 99.2 view on EDGAR → -
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Sold Jefferson Wells U.S. business for $100M, generating $88M net cash proceeds and $0.14 EPS benefit in Q2 (combined with transformation/restructuring costs).
Exhibit 99.1 view on EDGAR → -
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Repaid $585.8M long-term debt in first half 2026 (vs. $0.4M prior year), funded partly by Jefferson Wells sale; cash declined at year-end 2025 to $180.6M at June 30, 2026.
Exhibit 99.1 view on EDGAR → -
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Completed debt refinancing: issued €500M Euro notes due 2030 in December 2025, repaid maturing €500M notes in January 2026. Net debt-to-EBITDA 2.51:1, below 3.5:1 covenant.
Exhibit 99.2 view on EDGAR →
Summary
ManpowerGroup returned to profitability in Q2 2026 with earnings of $1.13 per share versus a $1.44 per share loss in the prior year, driven by 8% revenue growth to $4.9 billion. Adjusted for one-time items including the Jefferson Wells sale gain and transformation costs, EPS was $0.99, up 27% in constant currency.
The company sold its Jefferson Wells U.S. business for $100 million, generating $88 million in net proceeds that helped fund $585.8 million in debt repayments during the first half of 2026. Management issued Q3 guidance of $0.96–$1.06 per share with revenue growth of 3–7% in constant currency.
The results reflect improving demand across the company's geographic footprint, with strength in the United States, Latin America, APME, and select European markets including Italy, Spain, Poland, and Norway. The company completed a debt refinancing by issuing €500 million of Euro notes due 2030 to replace maturing debt, maintaining a net debt-to-EBITDA ratio of 2.51:1. Management characterized 2026 as an inflection point as it executes its strategic transformation program, which includes advancing AI capabilities through its PowerSuite platform and developing human and agentic AI solutions for clients.
Section-by-Section Diff
Event · Exhibit 99.1
ManpowerGroup reported Q2 2026 earnings of $1.13/share vs. -$1.44/share prior year, 8% revenue growth, and sold Jefferson Wells U.S. for $100M.
Added in current filing · view on EDGAR →
ManpowerGroup (NYSE: MAN) today reported net earnings of $1.13 per diluted share for the three months ended June 30, 2026 compared to net losses of $1.44 per diluted share in the prior year period. Net earnings in the quarter were $53.5 million compared to net losses of $67.1 million a year earlier. Revenues for the second quarter were $4.9 billion, an 8% increase from the prior year period.
ManpowerGroup swung to a profit in Q2 2026, earning $1.13 per share versus a loss of $1.44 per share in Q2 2025. Net earnings were $53.5 million versus a net loss of $67.1 million a year earlier. Revenues grew 8% to $4.9 billion, driven by strong demand in the United States, Latin America, APME, and select European countries including Italy, Spain, Poland, and Norway.
Added in current filing · view on EDGAR →
Excluding these items, earnings per share was $0.99 per diluted share in the quarter representing an increase of 27% in constant currency in the second quarter of 2026.
Excluding the Jefferson Wells sale, strategic transformation program costs, restructuring costs, and a discontinued business liquidation charge, adjusted earnings per share was $0.99 in Q2 2026, representing a 27% increase in constant currency versus the prior year period (which had various adjustments reducing EPS by $2.22).
Event · Exhibit 99.2
ManpowerGroup reported Q2 2026 results with 6% constant-currency revenue growth, improved profitability, and announced Q3 guidance.
Added in current filing · view on EDGAR →
Revenue $4.9B (Systemwide $5.3B) ... Gross Margin 16.1% ... EBITA $119M ($103M as adjusted) ... EBITA Margin 2.4% (2.1% as adjusted) ... EPS $1.13 ($0.99 as adjusted)
ManpowerGroup reported Q2 2026 revenue of $4.9 billion (up 6% constant currency), gross margin of 16.1%, adjusted EBITA of $103 million with 2.1% margin, and adjusted EPS of $0.99. The as-reported figures include a $30.0 million gain on sale of the Jefferson Wells U.S. business and $13.8 million in restructuring and transformation costs. Revenue growth was driven by strong performance in Manpower (up 8% constant currency) and improved trends in Experis and Talent Solutions.
Added in current filing · view on EDGAR →
Excludes the impact of restructuring costs and strategic transformation program costs of $13.8M ($11.0M net of tax), gain on sale of our Jefferson Wells U.S. business of $30.0M ($23.8M net of tax), liquidation of a discontinued business of $5.5M, and a non-cash currency translation loss of $0.6M related to hyper-inflationary Argentina.
The company completed the sale of its Jefferson Wells U.S. business during Q2 2026, recognizing a gain of $30.0 million ($23.8 million after tax). This one-time gain contributed $0.14 to reported EPS but is excluded from adjusted results to show underlying operational performance.
Added in current filing · view on EDGAR → · paraphrased
Revenue Total Up 2-6% (Up 3-7% CC) (Up 4-8% OCC) ... Gross Profit Margin 15.9 – 16.1% ... EBITA Margin 2.1 – 2.3% ... Operating Profit Margin 2.0 – 2.2% ... Tax Rate 44.0% ... EPS $0.96 – $1.06 (unfavorable $0.02 currency)
Management issued Q3 2026 guidance projecting revenue growth of 3-7% in constant currency, gross profit margin of 15.9-16.1%, EBITA margin of 2.1-2.3%, and EPS of $0.96-$1.06. The guidance reflects continued revenue momentum across regions with Americas expected up 7-11% constant currency and Southern Europe up 1-5% constant currency.
Added in current filing · view on EDGAR →
Global strategic transformation program progressing as expected ... Advanced AI strategy to create new ways of delivering a best-in-class talent experience and monetizing new human + agentic solutions for our clients through strategic partnerships
The company disclosed that its global strategic transformation program is progressing as expected, with a focus on advancing AI capabilities through its PowerSuite platform. The initiative aims to develop human and agentic AI solutions for clients through strategic partnerships. Q2 included $13.8 million in transformation program costs.
Event · Item 2.02 — Results of Operations and Financial Condition
ManpowerGroup announced Q2 2026 earnings results via press release.
Added in current filing · verify on EDGAR →
On July 16, 2026, we issued a press release announcing our results of operations for the three and six months ended June 30, 2026 and 2025.
ManpowerGroup disclosed its financial results for the second quarter and first half of 2026, comparing them to the same periods in 2025. The actual financial figures are contained in the attached press release (Exhibit 99.1), which is not included in this 8-K body text.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 20, 2026 · How we verify