What Happened?
Shares of workforce solutions provider ManpowerGroup (NYSE:MAN) fell 4.8% in the afternoon session after investors continued to bid down on the company reported third-quarter 2026 financial results. According to the company, third-quarter revenue was $4.8 billion, up 4% as reported and 5% in constant currency. Organic constant-currency revenue rose 6%. Reported earnings were $0.71 a share. Adjusted earnings were $1.01 a share.
The board elected President and Chief Strategy Officer Becky Frankiewicz as chief executive, effective Jan. 1, 2027. She will succeed Jonas Prising, who becomes executive chair. She will also join the board.
On the call, Prising said the Manpower brand is still taking share, especially in the United States, where it posted a ninth straight quarter of growth and double-digit revenue growth. Experis returned to growth in the U.S., and Talent Solutions improved from the prior quarter. Adjusted EBITA margin was 2.2%, up 10 basis points in constant currency. Gross margin was held back by a softer permanent-placement trend, notably in France, and by lower Right Management outplacement volume as layoffs slowed.
The company still expects $200 million of permanent cost savings in 2028.
Chief financial officer Jack McGinnis guided fourth-quarter constant-currency revenue to a gain of 3% to 7%, or 5% at the midpoint. After extra business days and dispositions, organic, days-adjusted constant-currency growth is 4% at the midpoint. He put the gross-profit margin at 15.9% at the midpoint and said the staffing margin should hold steady. EBITA margin is expected to rise 20 basis points from a year earlier at the midpoint, ahead of the 10-basis-point pace of the first three quarters. The tax rate is estimated at 44%. Earnings are forecast at $1.03 to $1.13 a share, on 48.3 million diluted shares. The higher share count comes from the stock’s rise over the past three months. Currency is assumed to be neutral. Restructuring and the global transformation program are left out of that outlook.
The shares closed the day at $41.49, down 5.2% from the previous close.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy ManpowerGroup? Access our full analysis report here, it’s free.
What Is The Market Telling Us
ManpowerGroup’s shares are very volatile and have had 29 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 1 day ago when the stock dropped 15.5% on the news that the company reported its third-quarter 2026 financial results and announced an upcoming chief executive officer transition. According to a company press release, ManpowerGroup reported third-quarter 2026 revenue of $4.84 billion, up 4.4% year on year, and net income of $34.1 million, or $0.71 per diluted share, up from $18.0 million, or $0.38 per diluted share, in the prior-year period.
Its non-GAAP profit of $1.01 per share was in line with analysts’ consensus estimates.
The release revealed that restructuring expenses, strategic transformation charges, a business sale adjustment, and hyperinflationary currency translation losses in Argentina reduced earnings by $0.30 per share, resulting in adjusted earnings per share of $1.01.
In a separate announcement, the company disclosed that its board of directors elected President and Chief Strategy Officer Becky Frankiewicz as Chief Executive Officer, effective January 1, 2027, while Jonas Prising, who served as CEO since 2014, will transition to Executive Chair of the board. The sharp decline reflected investor disappointment with the underlying earnings growth and persistent restructuring costs dragging on profitability.
ManpowerGroup is up 38% since the beginning of the year, but at $41.49 per share, it is still trading 34.1% below its 52-week high of $62.95 from August 2026. Despite the year-to-date gain, investors who bought $1,000 worth of ManpowerGroup’s shares 5 years ago would now be looking at only $366.70.
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.