ManpowerGroup plunges on weak Q4 forecast and Q3 revenue miss, names new CEO

By Reuters News

** Shares of ManpowerGroup MAN.N tumble more than 20% to $41.41 premarket

** The employment services provider sees Q4 EPS of $1.03 to $1.13, the midpoint of which is below the $1.10 estimate, per data compiled by LSEG

** Q3 rev of $4.84 bln misses est $4.86 bln

** Q3 adjusted profit per share of $1.01 in line with estimates

** Co names insider Becky Frankiewicz CEO, effective Jan. 1, 2027

** Frankiewicz will be only the fifth CEO in the company's nearly 80-year history

** Frankiewicz, currently president and chief strategy officer, succeeds Jonas Prising

** Prising has been CEO since 2014 and will become executive chair

** 3 of 12 brokerages rate the stock "buy" or above, 9 "hold"; median PT is $55.50 - data compiled by LSEG

** As of last close, stock up ~75% YTD

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