RTTNews | Oct 20, 2020 07:51AM EDT

07:50 Tuesday, October 20, 2020 (RTTNews.com) - ManpowerGroup, Inc. (MAN), a provider of workforce solutions and services, on Tuesday reported third-quarter net earnings of $10.3 million or $0.18 per share, down sharply from $146.1 million or $2.42 per share in the prior-year period.

Restructuring costs and other special items reduced earnings per share for the latest quarter by $1.02. The prior-year period included a special item related to the gain from the Greater China IPO which increased earnings per share by $0.50.

Excluding the restructuring charges and other special items, adjusted earnings were $1.20 per share in the latest quarter.

Revenues for the quarter declined 13 percent to $4.58 billion from $5.25 billion in the prior-year period.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.62 per share for the quarter on revenues of $4.27 billion. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, ManpowerGroup projects earnings per share between $1.06 and $1.14, which includes an estimated favorable currency impact of $0.03. The Street expects earnings of $1.05 per share for the quarter.

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