ManpowerGroup (MAN) shares tumbled 5.07% in pre-market trading on Thursday after the company reported first-quarter earnings that fell short of analysts' expectations. The workforce solutions company's financial results, released early Thursday, revealed some concerning figures that have spooked investors.
According to the earnings report, ManpowerGroup posted a net income of just $5.6 million for the first quarter, significantly below the $24.3 million estimated by analysts polled by IBES. The company's earnings per share (EPS) came in at $0.12, while the adjusted EPS was $0.44, missing the IBES estimate of $0.50.
Despite the earnings miss, ManpowerGroup did manage to outperform on the revenue front. The company reported Q1 revenue of $4,090.3 million, surpassing the IBES estimate of $3,962 million. However, this revenue beat was not enough to offset concerns about the company's profitability, as reflected in the pre-market stock price decline. Investors will be closely watching ManpowerGroup's performance and any guidance provided by management to assess the company's outlook for the rest of the year.
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