Benzinga | Jul 20, 2021 10:00AM EDT

ManpowerGroup Q2 Result Beats Estimates; Announces Upbeat Q3 Outlook

* ManpowerGroup Inc (NYSE:MAN) reported second-quarter FY21 sales growth of 41.02% year-on-year to $5.28 billion, beating the analyst consensus of $5.15 billion.

* Revenue from southern Europe, particularly in France recorded an 83% hike Y/Y.

* Gross profit rose 49.1% Y/Y to $860 million.

* Selling and administrative expenses increased 10.1% for the quarter to $690.2 million.

* The operating margin for the quarter was 3.2%, with $169.9 million in operating income.

* EPS of $2.02 beat the analyst consensus estimate of $1.41.

* Cash and equivalents as of June 30, 2021, totaled $1.46 billion.

* "As restrictions continued to ease worldwide, we saw the benefit of our diversified portfolio of services and workforce solutions," said CEO Jonas Prising.

* Outlook: The company sees Q3 EPS in the range of $1.86-$1.94 against the analyst consensus of $1.73.

* Price action: MAN shares are trading lower by 2.50% at $108.81 on the last check Tuesday.