Manpower’s (MAN) third-quarter 2010 earnings beat the Zacks Consensus Estimate on the heels of revenue growth across all major markets due to an increase in demand for temporary labor globally. The company registered revenue growth of 18.7% during the quarter.
Riding on the back of robust results, management now expects fourth-quarter 2010 earnings in the range of $0.54 to $0.62 per share. We believe that Manpower’s brand value, comprehensive range of services and a strong global network provides a competitive advantage and reinforces its dominant position in the market.
Moreover, Manpower stands to benefit from growth prospects in under-penetrated staffing markets. Given the strong fundamentals we upgrade our recommendation to Outperform.
MANPOWER INC WI (MAN): Free Stock Analysis Report
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