ManpowerGroup Inc. (NYSE:MAN) Q2 2022 Earnings Conference Call July 19, 2022 8:30 AM ET

Company Participants

Jonas Prising - Chairman and Chief Executive Officer

Jack McGinnis - Executive Vice President and Chief Financial Officer

Conference Call Participants

Andrew Steinerman - JPMorgan

Kevin McVeigh - Credit Suisse

Jeffrey Silber - BMO Capital Markets

Mark Marcon - Baird

Kartik Mehta - North Coast Research

Tobey Sommer - Truist

George Tong - Goldman Sachs

David Silver - C.L. King

Operator

Welcome to ManpowerGroup Second Quarter Earnings Results Conference Call. At this time, all participants are in a listen-only mode until the Q&A session of today's conference. This call will be recorded. If you have any objections, please disconnect at this time.

And now, I will turn the call over to ManpowerGroup Chairman and CEO, Jonas Prising. Sir, you may begin.

Jonas Prising

Thank you. And welcome to the second quarter conference call for 2022. Our Chief Financial Officer, Jack McGinnis, is with me today. For your convenience, we have included our prepared remarks within the Investor Relations section of our website at manpowergroup.com.

I will start by going through some of the highlights of the quarter, then Jack will go through the second quarter results and guidance for the third quarter of 2022. And I will then share some concluding thoughts before we start our Q&A session. Jack will now cover the Safe Harbor language.

Jack McGinnis

Good morning, everyone. This conference call includes forward-looking statements, including statements regarding the impact of COVID-19 pandemic and the Russia-Ukraine War, which are subject to known and unknown risks and uncertainties. These statements are based on management’s current expectations or beliefs. Actual results might differ materially from those projected in the forward-looking statements. We assume no obligation to update or revise any forward-looking statements.

Slide 2 of our earnings release presentation further identifies forward-looking statements made in this call and factors that may cause our actual results to differ materially and information regarding reconciliation of non-GAAP measures.

Jonas Prising

Thanks Jack. I’m just back from extensive trips through Europe, which included the World Economic Forum’s Annual Meeting in Davos, VivaTech, which is one of the world’s largest technology and start-up events in Paris, and the Choose France Summit held just last week in Versailles, France. I will touch on these events as well as insights from clients during my business reviews later in the call.

Turning to our financial results, in the second quarter revenue was $5.1 billion, up 6% year-over-year in constant currency, or 3% in organic constant currency. Our EBIDTA for the quarter was $190 million. Adjusting for the U.S. acquisition integration costs, EBITDA was $193 million, reflecting growth of 22% in constant currency year-over-year.