As of this writing, shares of Manpower were up 24.81% to $81 per share, while shares of AbbVie climbed as much as 2.34% to $64.60 per share
AbbVie and Manpower released their latest earnings reports before opening bell this morning. AbbVie posted adjusted earnings of 89 cents per share, an 8.5% increase, on GAAP sales of $5.45 billion, compared to last year’s $5.11 billion. Analysts had been expecting earnings of 86 cents per share on $5.35 billion in revenue for the quarter.
ManpowerGroup posted diluted earnings of $1.47 per share, compared to $1.25 in the same quarter a year ago, on $5.1 billion in revenue, a 2% year over year decline. Analysts had been expecting earnings of $1.43 per share on $5.11 billion in revenue for the quarter.
In a rare interview with Harvard Business School that was published online earlier this month, (it has since been taken down) value investor Seth Klarman spoke at length about his investment process, philosophy and the changes value investors have had to overcome during the past decade. Klarman’s hedge fund, the Boston-based Baupost has one of Read More
Key metrics from ManpowerGroup’s earnings report
ManpowerGroup reported net earnings of $117.2 million, compared to $101.2 million the year before. Included in 2013’s diluted earnings results are restructuring charges of 24 cents per share or $19.4 million after taxes. The job placement company reported a negative impact of 13 cents per share related to the weakening of international currencies against the U.S. dollar.
For the full year, Manpower posted earnings of $5.30 per share, compared to the previous year’s $3.62 per share. The company reported a negative impact of 10 cents per share due to foreign exchange rates.
The company expects this year’s first quarter earnings to be between 73 cents and 81 cents per share, including a 15 cent per share negative impact from foreign currency exchange rates.
Key metrics from AbbVie’s earnings report
AbbVie posted a reported loss of 51 cents per share, compared to last year’s 70 cents per share in earnings. The GAAP loss includes items related to the termination of the Shire deal. Adjusted revenue was $5.4 billion, while adjusted gross margin improved 410 basis points to 81.2%. The company reported a 14.4% growth rate in its arthritis drug Humira.
The drug maker also confirmed its previously provided guidance of between $4.25 and $4.45 per share for full year 2015 earnings. AbbVie’s adjusted earnings guidance excludes an expected negative impact of 34 cents per share in items.