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ManpowerGroup Guides Q3 EPS Below Estimates - Quick Facts

While reporting financial results for the second quarter on Monday, workforce solutions provider ManpowerGroup, Inc. (MAN) said it expects earnings for the third quarter to be in the range of $0.59 to $0.67 per share, which includes an estimated unfavorable currency impact of 1 cent and an elevated effective tax rate due to the French Business Tax which will have an unfavorable impact of 7 cents.

The company added that the third quarter guidance reflects assumptions as of today and does not anticipate any major rollbacks of economic reopening activities in any of its largest markets.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.68 per share for the quarter. Analysts' estimates typically exclude special items.

The company had withdrawn its financial guidance for the first-quarter ending March 31, 2020, due to the rapidly changing environment as the COVID-19 pandemic continues to evolve. It also did not provide guidance for second-quarter earnings while reporting financial results for the first quarter in April.

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