ManpowerGroup Inc. MAN reported mixed third-quarter 2018 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.Adjusted earnings per share (excluding restructuring cost) came in at $2.47, surpassing the Zacks Consensus Estimate by 6 cents. The bottom line also came above the guided range of $2.37-$2.45 per share and increased 19.1% on a year-over-year basis.Revenues of $5.42 billion lagged the consensus estimate by $190 million and declined 0.8% year over year on a reported basis. The reported figure increased 1.3% on a constant-currency basis. The constant-currency growth rate was below the company’s guided range of 4-6%. Weak revenues reflect softness in Europe, partially offset by strength in Asia Pacific & Middle East (APME).ManpowerGroup is trying to mitigate this revenue softness through strong pricing discipline and cost control. It continues to witness solid growth at its solutions business, especially in MSP and RPO solutions.In a bid to increase productivity and efficiency, the company is making significant investments in technology. In the third quarter, ManpowerGroup transitioned a major portion of its business in Germany to a new integrated front office system. The company is also upgrading its business with cloud based front office systems.Factors such as skilled professionals, technological advancements, brand value and strong global network bode well for ManpowerGroup. Additionally, Trump administration’s business-friendly approach, a strong U.S. economy, robust manufacturing and non-manufacturing activity, and improvements in the labor market augur well for the company.These tailwinds may lift the company’s share price ahead. In a year’s time, shares of ManpowerGroup have declined 37% against the industry’s 3.1% growth.Let’s delve deeper in to the numbers.Segmental RevenuesRevenues from America totaled $1.04 billion, down 2% year over year on a reported basis but up 1.9% on a constant-currency basis. Solid revenue growth at Other Americas’ sub group was partially offset by revenue decline in the United States. The segment contributed 19% to total revenues.Revenues from Southern Europe were up 0.6% on a reported basis and 1.7% on a constant- currency basis to $2.33 billion. Solid revenue growth was witnessed across Italy and Other Southern Europe. The segment contributed 43% to total revenues.Northern Europe revenues decreased 5.9% on a reported basis and 3.9% on a constant-currency basis to $1.29 billion. The decline was due to weakness in Germany, Belgium and the Netherlands. The segment accounted for 24% of total revenues in the reported quarter.APME revenues totaled $713 million, up 7.2% on a reported basis and 10.3% on a constant-currency basis. The uptick was backed by growth in Australia, New-Zealand, Japan, China, India, Thailand, Malaysia, Singapore and Vietnam. The segment contributed 13% to total revenues.Revenues from the Right Management business declined 8.9% year over year on a reported basis and 7.5% on constant-currency basis to $47 million. The downside can be attributed to reduced outplacement activity.ManpowerGroup Revenue (TTM) ManpowerGroup Revenue (TTM) | ManpowerGroup QuoteOperating PerformanceGross profit in the third quarter was $890.6 million, down 1.1% year over year on a reported basis but up 1% on a constant-currency basis. Gross profit margin came in at 16.4%, down 10 basis points (bps) year over year.Operating profit of $216.7 million declined 5.2% year over year on a reported basis and 3.4% on a constant-currency basis. Operating profit margin came in at 4%, down 20 basis points year over year.The America segment’s operating profit amounted to $51.3 million, down 13.8% year over year on a reported basis and 11.4% on a constant-currency basis. Operating profit from Southern Europe was $121.6 million, up 3.1% on a reported basis and 4% on a constant-currency basis.APME registered an operating profit of $32.4 million, which improved 18.1% on a reported basis and 20.9% on a constant-currency basis. The Northern Europe segment’s operating profit declined 18.6% year over year on a reported basis and 16.8% on a constant-currency basis to $40.5 million.The Right Management segment’s operating profit was $6.5 million, down 19.1% on a reported basis and 18.2% on a constant-currency basis.Balance Sheet and Cash FlowManpowerGroup exited the third quarter with cash and cash equivalents’ balance of $682.6 million compared with $767.5 million in the prior quarter. Long-term debt at the end of the quarter was $1.04 billion compared with $1.05 billion in the preceding quarter.The company generated $126.4 million of cash from operating activities and spent $13 million on Capex in the quarter. It repurchased 2.1 million shares for $189 million.Fourth-Quarter OutlookManpowerGroup anticipates fourth-quarter earnings per share in the range of $2.15-$2.23, below the Zacks Consensus Estimate of $2.53. The guidance includes a negative impact of 5 cents from foreign currency and 27 cents from CICE reduction in France.The company’s revenue guidance range is between a 1% decline and 1% growth on a constant-currency basis. Acquisitions are expected to positively impact the top line by 10 basis points. Further, the company anticipates its income tax rate in fourth-quarter 2018 to be around 27.5%.Zacks Rank & Upcoming ReleasesCurrently, ManpowerGroup carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Investors interested in the broader Business Services sector are keenly awaiting earnings reports of key players like Booz Allen Hamilton Holding BAH, Waste Connections WCN and First Data FDC. While Booz Allen Hamilton will report second-quarter fiscal 2019 results on Oct 29, Waste Connections and First Data will release third-quarter 2018 results on the same day.Today's Stocks from Zacks' Hottest StrategiesIt's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. 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