Q1 2026 ManpowerGroup Inc Earnings Call Transcript
Key Points
- ManpowerGroup Inc (MAN) reported a 3% organic constant currency growth in Q1 2026, with revenues reaching $4.5 billion.
- The company achieved an adjusted EBITDA margin of 1.4%, reflecting improving demand trends and P&L leverage.
- ManpowerGroup Inc (MAN) is launching a strategic global transformation program expected to deliver $200 million in permanent cost savings by 2028.
- The company is leveraging AI to drive commercial excellence, with AI-powered tools generating significant incremental revenue in France.
- ManpowerGroup Inc (MAN) is seeing strong performance in key markets such as France, the U.S., and Italy, with stable trends in Experis and Talent Solutions.
- Gross profit margin came in below the low-end of guidance due to lower bench utilization in Europe and mix shifts impacting staffing margin.
- The Experis brand experienced a 9% decline, largely driven by the timing of Healthcare IT projects in the U.S.
- The Talent Solutions brand saw a 1% decline, with RPO business facing a sluggish permanent hiring environment.
- Free cash flow represented an outflow of $135 million in Q1 2026, impacted by payment timing in the MSP business and working capital utilization.
- The company is closely monitoring geopolitical developments, such as the conflict in the Middle East, which could impact business operations.
Welcome to ManpowerGroup's first-quarter earnings results conference call. (Operator Instructions) As a reminder, this call is being recorded. If you care to drop off now, please do so.
I would now like to turn the call over to ManpowerGroup's Chair and CEO, Mr. Jonas Prising. Sir, you may begin.
Good morning and thank you for joining us for our first quarter 2026 conference call. Our Chief Financial Officer, Jack McGinnis, and our President and Chief Strategy Officer, Becky Frankiewicz, are both with me today. For your convenience, our prepared remarks are available in the Investor Relations section of our website at manpowergroup.com.
I'll begin with a brief overview of the quarter, including how we're seeing conditions evolve across our markets, and then I'll share a few updates on how we're positioning ManpowerGroup to win in any environment. Becky will then provide an update on how we are driving commercial excellence and the opportunities for capturing
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