Shares of ManpowerGroup
MAN,
-1.95%
rose 1.6% in premarket trading Tuesday, after the provider of workforce services swung to a second-quarter profit that beat expectations, citing a strong rebound in demand for workforce solutions, and provided an upbeat outlook for the current quarter. Net income totaled $111.6 million, or $2.02 a share, after a loss of $64.4 million, or $1.11 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.42. Revenue grew 41.0% to $5.28 billion, beating the FactSet consensus of $5.15 billion. For the third quarter, the company expects EPS of between $1.86 and $1.94, above the FactSet consensus of $1.74. "Our second quarter results reflect an improving global economic environment and increased demand for our services across our key markets and brands," said Chief Executive Jonas Prising. "As restrictions continued to ease worldwide, we saw the benefit of our diversified portfolio of services and workforce solutions." The stock has run up 23.5% year to date through Monday, while the S&P 500
SPX,
+1.13%
has gained 13.4%.