Manpower Beats Q3 EPS and Revenue Estimates, Guides for Q4 (MAN)
Wed. October 21, 2009; Posted: 10:03 AM
Oct 21, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/21/2009 - Manpower (NYSE:MAN) reported Q3 EPS of $0.26, ex-items, beating consensus analyst estimates of $0.17. Revenues for the quarter fell 26% year-over-year (21.5% in constant currency) to $4.19 billion, coming out ahead of consensus analyst estimates of $3.95 billion. Chairman and CEO Jeffrey Joerres said, "All of our major operations contributed to our better than expected profitability as revenue across the board was marginally stronger, however, the uptick in revenue is muted at this time compared to previous recoveries." Commenting on outlook, he continued, "While the current economic environment makes forecasting demand for our services difficult, we anticipate the fourth quarter of 2009 diluted earnings per share to be in the range of $.17 to $.27, which includes an estimated positive currency impact of 3 cents." Consensus estimates forecast Q4 EPS of $0.28.
Write to Chip Brian at cbrian@tradethetrend.com
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