ManpowerGroup Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>ManpowerGroup Inc. has submitted its Q1 2024 10-Q filing, detailing segment performance and financial positions.</b>

AI Summary

ManpowerGroup Inc. (MAN) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. ManpowerGroup Inc. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing includes data related to various segments such as Southern Europe, Americas, and Northern Europe. Specific subsegments mentioned include France, Other Americas, and Jefferson Wells. The report details financial activities and positions as of March 31, 2024, and December 31, 2023. It references financial instruments including currency swaps and euro-denominated notes.

Why It Matters

For investors and stakeholders tracking ManpowerGroup Inc., this filing contains several important signals. This 10-Q provides investors with the latest financial performance data for ManpowerGroup's diverse global operations, crucial for assessing current business health and future prospects. The inclusion of specific segment data (e.g., Southern Europe, Americas) allows for a granular understanding of regional contributions and potential growth areas or challenges.

Risk Assessment

Risk Level: medium — ManpowerGroup Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not inherently signal significant positive or negative developments, placing its risk level at medium due to the inherent uncertainties of financial reporting.

Analyst Insight

Review the detailed segment performance within the 10-Q to identify any significant shifts in revenue or profitability across ManpowerGroup's key geographical regions.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Quarterly period ended March 31, 2024.)
• 2024-05-03 — Filing Date (Date the 10-Q was filed.)
• 2023-12-31 — Prior Year End Date (Reference point for comparative financial data.)

Key Players & Entities

• ManpowerGroup Inc. (company) — Filer of the 10-Q report.
• 2024-03-31 (date) — End of the reporting period for the 10-Q.
• 2024-05-03 (date) — Filing date of the 10-Q.
• Southern Europe (segment) — A reported segment of ManpowerGroup's operations.
• Americas (segment) — A reported segment of ManpowerGroup's operations.
• Northern Europe (segment) — A reported segment of ManpowerGroup's operations.
• France (location) — A subsegment within the Southern Europe region.
• Jefferson Wells (company) — A mentioned entity or subsegment.

FAQ

Industry Context

ManpowerGroup operates in the global workforce solutions and services industry, providing staffing, recruitment, and related services to businesses worldwide.

Regulatory Implications

As a publicly traded company, ManpowerGroup Inc. is subject to the reporting requirements of the U.S. Securities and Exchange Commission (SEC), including the filing of quarterly reports on Form 10-Q.

What Investors Should Do

1. Analyze ManpowerGroup's revenue and profitability trends across its key geographical segments (Americas, Southern Europe, Northern Europe) for Q1 2024.
2. Examine any disclosures related to financial instruments, such as currency swaps or debt, to understand potential financial risks or hedging strategies.
3. Compare the financial data presented in this 10-Q with previous filings to identify significant year-over-year or sequential changes in performance.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-03: Filing Date — The date ManpowerGroup Inc. submitted its 10-Q to the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for ManpowerGroup Inc. in the fiscal year 2024, providing updated financial performance and operational details compared to the previous fiscal year's filings.

Filing Documents

• man-20240331.htm (10-Q) — 2091KB
• man-ex10_1.htm (EX-10.1) — 75KB
• man-ex31_1.htm (EX-31.1) — 12KB
• man-ex31_2.htm (EX-31.2) — 12KB
• man-ex32_1.htm (EX-32.1) — 6KB
• man-ex32_2.htm (EX-32.2) — 6KB
• 0000950170-24-052961.txt (&nbsp;) — 10856KB
• man-20240331.xsd (EX-101.SCH) — 1437KB
• man-20240331_htm.xml (XML) — 2402KB

Financial Statements (unaudited)

Financial Statements (unaudited) Consolidated Balance Sheets 3 - 4 Consolidated Statements of Operations 5 Consolidated Statements of Comprehensive Income 5 Consolidated Statements of Cash Flows 6 Consolidated Statements of Shareholders' Equity 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8 - 20 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 - 32 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4

Controls and Procedures

Controls and Procedures 33 PART II OTHER INFORMATION Item 1A

Risk Factors

Risk Factors 34 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 5 Other Information 34 Item 6 Exhibits 35

- FINANC IAL INFORMATION

PART I - FINANC IAL INFORMATION

– Financial St atements (unaudited)

Item 1 – Financial St atements (unaudited) ManpowerGroup Inc. Consolidated Balance Sheets (Unaudited) (in millions) ASSETS March 31, 2024 December 31, 2023 Cash and cash equivalents $ 604.8 $ 581.3 Accounts receivable, less allowance for expected credit losses of $ 96.0 and $ 99.2 , respectively 4,458.5 4,830.0 Prepaid expenses and other assets 186.5 160.8 Total current assets 5,249.8 5,572.1 Other Assets: Goodwill 1,574.5 1,586.8 Intangible assets, less accumulated amortization of $ 511.9 and $ 507.2 , respectively 507.8 519.6 Operating lease right-of-use assets 403.9 414.0 Other assets 628.4 607.8 Total other assets 3,114.6 3,128.2 Property and Equipment: Land, buildings, leasehold improvements and equipment 518.3 526.5 Less: accumulated depreciation and amortization 394.1 396.6 Net property and equipment 124.2 129.9 Total assets $ 8,488.6 $ 8,830.2 The accompanying Notes to Consolidated Financial Statements are an integral part of these statements. 3 ManpowerGroup Inc. Conso lidated Balance Sheets (Unaudited) (in millions, except share and per share data) LIABILITIES AND SHAREHOLDERS' EQUITY March 31, 2024 December 31, 2023 Current Liabilities: Accounts payable 2,614.7 2,723.0 Employee compensation payable 215.4 243.1 Accrued liabilities 604.3 693.0 Accrued payroll taxes and insurance 668.4 695.8 Value added taxes payable 385.7 432.7 Short-term borrowings and current maturities of long-term debt 15.6 12.1 Total current liabilities 4,504.1 4,799.7 Other Liabilities: Long-term debt 968.9 990.5 Long-term operating lease liability 315.5 323.2 Other long-term liabilities 512.4 482.7 Total other liabilities 1,796.8 1,796.4 Shareholders' Equity: ManpowerGroup shareholders' equity Preferred stock, $ .01 par value, authorized 25,000,000 shares, none issued — — Common stock,

View Full Filing

View this 10-Q filing on SEC EDGAR