ManpowerGroup Inc

XMUN:MPW

Growth: ManpowerGroup reported $4.8 billion in revenue, with organic constant-currency growth of 6%; growth was led by Manpower, while Experis and Talent Solutions improved sequentially.

Outlook: Fourth-quarter revenue growth is projected at 3% to 7% in constant currency, with a 5% midpoint; adjusted EPS guidance is $1.03 to $1.13.

Margins: Adjusted EBITA margin was 2.2%, up 10 basis points year over year. Management expects 20 basis points of year-over-year margin expansion in Q4, supported by stable staffing margins and cost control.

Transformation: The company remains committed to $200 million in permanent annual cost savings in 2028. Becky Frankiewicz also reaffirmed commitment to the previously discussed 110 basis points of margin improvement.

Leadership: Becky Frankiewicz will become CEO and join the Board on January 1, 2027; Jonas Prising will become Executive Chair.

AI strategy: AI-enabled screening capabilities now reach 70% of revenue, while partnerships and AI-related client projects are contributing to pipeline growth and commercial opportunities.

Cash flow: Free cash outflow was $17 million, mainly reflecting the timing of MSP payments; excluding those timing items, free cash flow would have been a $75 million inflow. Management expects very strong Q4 free cash flow.