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Manpower’s Q1 Earnings Rise, Beating Estimates (MAN)

By Dividend.com,  April 20, 2012, 09:10:43 AM EDT

Workforce solutions provider Manpower Inc ( MAN ) on Friday released better-than-expected first quarter earnings and unveiled a second quarter forecast that compared favorably with Wall Street's view.

The Milwaukee-based company reported first quarter net income of $40.2 million, or 50 cents per share, compared with $35.7 million, or 43 cents per share, in the year-ago period.

Revenue rose slightly from last year to $5.1 billion, hurt partially by negative currency effects.

On average, Wall Street analysts expected a smaller profit of 35 cents per share, on lower revenue of $4.97 billion.

Looking ahead, MAN forecast second quarter earnings of 68 to 76 cents per share, including negative currency effects. Analysts currently expect 74 cents per share for the current period.

CEO Jeffrey Joerres commented, "We were able to achieve very solid profitability despite the continued headwinds of slow economic growth. Our workforce solutions business continued to grow by solid double digits while our permanent recruitment business continues to outpace last year."

Manpower shares rose $1.63, or +3.7%, in premarket trading Friday.

The Bottom Line
Shares of Manpower ( MAN ) have a 1.76% dividend yield, based on last night's closing stock price of $43.77. The stock has technical support in the $38-$40 price area. If the shares can firm up, we see overhead resistance around the $45-$48 price levels.

Manpower Inc ( MAN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: MAN



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