ManpowerGroup Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings Guidance for the First Quarter of 2017
For the year, the company's revenues from services were $19,654.1 million compared with $19,329.9 million a year ago. Operating profit was $750.8 million compared with $688.9 million a year ago. Earnings before income taxes were $701.3 million compared with $660.7 million a year ago. Net earnings were $443.7 million or $6.27 per diluted share compared with $419.2 million or $5.40 per diluted share a year ago. 2016 earnings were unfavorably impacted by 15 cents per diluted share due to changes in foreign currencies compared to the prior year. Cash provided by operating activities was $600.0 million compared with $511.5 million a year ago. Capital expenditures were $56.9 million compared with $52.3 million a year ago.
The company is anticipating diluted earnings per share in the first quarter of 2017 to be in the range of $1.06 to $1.14 which includes an estimated unfavorable currency impact of 5 cents.