EX-99.3

ManpowerGroup

Recast Operating Unit Results

(In millions)

Effective January 1, 2025, our segment reporting was realigned to include our Morocco business within Other Southern Europe. Accordingly, France is now adjusted to exclude Morocco. All previously reported results have been recast to conform to the current year presentation.


	Three Months Ended March 31
							% Variance
							Amount			Constant
	2024			2023			Reported			Currency
	(Unaudited)
Revenues from Services:
Americas:
United States	$	680.4		$	741.6			-8.3	%		-8.3	%
Other Americas		356.0			388.6			-8.4	%		12.5	%
		1,036.4			1,130.2			-8.3	%		-1.1	%
Southern Europe:
France		1,099.3			1,150.6			-4.5	%		-5.6	%
Italy		404.3			422.2			-4.2	%		-5.4	%
Other Southern Europe		477.7			495.1			-3.5	%		-3.0	%
		1,981.3			2,067.9			-4.2	%		-4.9	%
Northern Europe		870.3			967.6			-10.1	%		-12.1	%
APME		535.1			605.9			-11.7	%		-4.8	%
		4,423.1			4,771.6
Intercompany Eliminations		(19.8	)		(19.3	)
	$	4,403.3		$	4,752.3			-7.3	%		-5.5	%
Operating Unit Profit:
Americas:
United States	$	12.0		$	30.0			-60.2	%		-60.2	%
Other Americas		14.1			18.6			-24.1	%		-15.2	%
		26.1			48.6			-46.4	%		-43.0	%
Southern Europe:
France		32.7			44.5			-26.4	%		-27.3	%
Italy		27.4			30.7			-10.7	%		-11.8	%
Other Southern Europe		9.8			14.7			-33.5	%		-31.4	%
		69.9			89.9			-22.2	%		-22.7	%
Northern Europe		0.0			5.0			-99.9	%		-108.6	%
APME		19.9			21.1			-6.1	%		3.3	%
		115.9			164.6
Corporate expenses		(41.7	)		(37.9	)
Intangible asset amortization expense		(8.3	)		(8.8	)
Operating profit		65.9			117.9			-44.1	%		-41.7	%
Interest and other expenses, net		(8.4	)		(7.5	)
Earnings before income taxes	$	57.5		$	110.4


	Three Months Ended June 30												Six Months Ended June 30
							% Variance												% Variance
							Amount			Constant									Amount			Constant
	2024			2023			Reported			Currency			2024			2023			Reported			Currency
	(Unaudited)
Revenues from Services:
Americas:
United States	$	697.0		$	709.1			-1.7	%		-1.7	%	$	1,377.4		$	1,450.7			-5.1	%		-5.1	%
Other Americas		367.4			389.6			-5.7	%		17.1	%		723.4			778.2			-7.0	%		14.8	%
		1,064.4			1,098.7			-3.1	%		5.0	%		2,100.8			2,228.9			-5.7	%		1.9	%
Southern Europe:
France		1,164.1			1,258.4			-7.5	%		-6.4	%		2,263.4			2,409.0			-6.0	%		-6.0	%
Italy		434.9			457.8			-5.0	%		-3.9	%		839.2			880.0			-4.6	%		-4.6	%
Other Southern Europe		499.0			510.7			-2.3	%		0.3	%		976.7			1,005.8			-2.9	%		-1.3	%
		2,098.0			2,226.9			-5.8	%		-4.4	%		4,079.3			4,294.8			-5.0	%		-4.6	%
Northern Europe		837.3			952.5			-12.1	%		-12.0	%		1,707.6			1,920.1			-11.1	%		-12.1	%
APME		541.4			599.4			-9.7	%		-2.0	%		1,076.5			1,205.3			-10.7	%		-3.4	%
		4,541.1			4,877.5									8,964.2			9,649.1
Intercompany Eliminations		(20.4	)		(21.4	)								(40.2	)		(40.7	)
	$	4,520.7		$	4,856.1			-6.9	%		-3.5	%	$	8,924.0		$	9,608.4			-7.1	%		-4.5	%
Operating Unit Profit (Loss):
Americas:
United States	$	27.4		$	23.1			18.7	%		18.7	%	$	39.4		$	53.1			-25.9	%		-25.9	%
Other Americas	$	17.7			20.1			-12.1	%		2.0	%	$	31.8			38.7			-17.8	%		-6.3	%
		45.1			43.2			4.4	%		10.9	%		71.2			91.8			-22.5	%		-17.6	%
Southern Europe:
France		39.8			49.4			-19.3	%		-18.3	%		72.5			93.9			-22.7	%		-22.6	%
Italy		34.0			36.3			-6.3	%		-5.2	%		61.4			67.0			-8.3	%		-8.2	%
Other Southern Europe		9.4			6.9			32.0	%		37.1	%		19.2			21.6			-12.1	%		-9.1	%
		83.2			92.6			-10.3	%		-9.0	%		153.1			182.5			-16.1	%		-15.7	%
Northern Europe		(2.4	)		(9.7	)		75.6	%		73.1	%		(2.4	)		(4.7	)		49.4	%		35.0	%
APME		25.0			25.7			-2.0	%		8.2	%		44.9			46.8			-3.8	%		6.0	%
		150.9			151.8									266.8			316.4
Corporate expenses		(41.7	)		(35.5	)								(83.4	)		(73.4	)
Intangible asset amortization expense		(8.1	)		(8.7	)								(16.4	)		(17.5	)
Operating profit		101.1			107.6			-6.1	%		-0.1	%		167.0			225.5			-25.9	%		-21.9	%
Interest and other expenses, net		(8.7	)		(11.8	)								(17.1	)		(19.3	)
Earnings before income taxes	$	92.4		$	95.8								$	149.9		$	206.2


	Three Months Ended September 30												Nine Months Ended September 30
							% Variance												% Variance
							Amount			Constant									Amount			Constant
	2024			2023			Reported			Currency			2024			2023			Reported			Currency
	(Unaudited)
Revenues from Services:
Americas:
United States	$	697.4		$	730.2			-4.5	%		-4.5	%	$	2,074.8		$	2,180.9			-4.9	%		-4.9	%
Other Americas		353.1			381.1			-7.3	%		13.1	%		1,076.5			1,159.3			-7.1	%		14.2	%
		1,050.5			1,111.3			-5.5	%		1.5	%		3,151.3			3,340.2			-5.7	%		1.8	%
Southern Europe:
France		1,156.8			1,191.0			-2.9	%		-3.7	%		3,420.2			3,600.0			-5.0	%		-5.2	%
Italy		419.1			413.7			1.3	%		0.5	%		1,258.3			1,293.7			-2.7	%		-3.0	%
Other Southern Europe		519.7			504.0			3.1	%		2.7	%		1,496.4			1,509.8			-0.9	%		0.0	%
		2,095.6			2,108.7			-0.6	%		-1.3	%		6,174.9			6,403.5			-3.6	%		-3.5	%
Northern Europe		828.3			914.2			-9.4	%		-11.0	%		2,535.9			2,834.3			-10.5	%		-11.7	%
APME		562.8			564.8			-0.3	%		1.6	%		1,639.3			1,770.1			-7.4	%		-1.8	%
		4,537.2			4,699.0									13,501.4			14,348.1
Intercompany Eliminations		(7.0	)		(23.4	)								(47.2	)		(64.1	)
	$	4,530.2		$	4,675.6			-3.1	%		-1.8	%	$	13,454.2		$	14,284.0			-5.8	%		-3.6	%
Operating Unit Profit (Loss):
Americas:
United States	$	22.3		$	24.5			-9.0	%		-9.0	%	$	61.7		$	77.6			-20.6	%		-20.6	%
Other Americas	$	13.8			13.4			3.4	%		9.0	%	$	45.6			52.1			-12.4	%		-2.4	%
		36.1			37.9			-4.6	%		-2.7	%		107.3			129.7			-17.3	%		-13.3	%
Southern Europe:
France		41.2			47.7			-13.8	%		-14.3	%		113.7			141.6			-19.7	%		-19.8	%
Italy		27.4			27.0			1.1	%		-0.1	%		88.8			94.0			-5.6	%		-5.9	%
Other Southern Europe		7.2			9.7			-23.4	%		-21.8	%		26.4			31.3			-15.6	%		-13.0	%
		75.8			84.4			-10.1	%		-10.6	%		228.9			266.9			-14.2	%		-14.1	%
Northern Europe		(25.7	)		(30.6	)		16.1	%		18.7	%		(28.1	)		(35.3	)		20.5	%		20.8	%
APME		23.0			24.2			-5.5	%		-1.9	%		67.9			71.0			-4.4	%		3.4	%
		109.2			115.9									376.0			432.3
Corporate expenses		(30.2	)		(37.4	)								(113.6	)		(110.8	)
Intangible asset amortization expense		(8.2	)		(8.7	)								(24.6	)		(26.2	)
Operating profit		70.8			69.8			1.5	%		4.5	%		237.8			295.3			-19.5	%		-15.6	%
Interest and other expenses, net		(11.6	)		(15.1	)								(28.7	)		(34.4	)
Earnings before income taxes	$	59.2		$	54.7								$	209.1		$	260.9


	Three Months Ended December 31												Year Ended December 31
							% Variance												% Variance
							Amount			Constant									Amount			Constant
	2024			2023			Reported			Currency			2024			2023			Reported			Currency
	(Unaudited)
Revenues from Services:
Americas:
United States	$	691.8		$	685.2			1.0	%		1.0	%	$	2,766.6		$	2,866.2			-3.5	%		-3.5	%
Other Americas		381.8			389.4			-2.0	%		18.1	%		1,458.3			1,548.6			-5.8	%		15.2	%
		1,073.6			1,074.6			-0.1	%		7.2	%		4,224.9			4,414.8			-4.3	%		3.1	%
Southern Europe:
France		1,111.3			1,190.1			-6.6	%		-5.9	%		4,531.5			4,790.1			-5.4	%		-5.4	%
Italy		418.7			415.1			0.9	%		1.8	%		1,677.0			1,708.8			-1.9	%		-1.8	%
Other Southern Europe		513.4			506.6			1.3	%		1.8	%		2,009.8			2,016.4			-0.3	%		0.5	%
		2,043.4			2,111.8			-3.2	%		-2.5	%		8,218.3			8,515.3			-3.5	%		-3.3	%
Northern Europe		768.4			913.7			-15.9	%		-16.4	%		3,304.3			3,748.0			-11.8	%		-12.9	%
APME		522.0			552.2			-5.5	%		-4.0	%		2,161.3			2,322.3			-6.9	%		-2.3	%
		4,407.4			4,652.3									17,908.8			19,000.4
Intercompany Eliminations		(7.7	)		(21.8	)								(54.9	)		(85.9	)
	$	4,399.7		$	4,630.5			-5.0	%		-2.9	%	$	17,853.9		$	18,914.5			-5.6	%		-3.4	%
Operating Unit Profit (Loss):
Americas:
United States	$	16.0		$	16.8			-4.1	%		-4.1	%	$	77.7		$	94.4			-17.6	%		-17.6	%
Other Americas	$	18.3			19.1			-4.8	%		16.2	%	$	63.9			71.2			-10.3	%		2.6	%
		34.3			35.9			-4.5	%		6.7	%		141.6			165.6			-14.5	%		-8.9	%
Southern Europe:
France		35.8			45.2			-20.7	%		-20.5	%		149.5			186.8			-19.9	%		-20.0	%
Italy		24.3			30.7			-20.5	%		-20.1	%		113.1			124.7			-9.3	%		-9.4	%
Other Southern Europe		15.1			14.9			0.2	%		-0.3	%		41.5			46.2			-10.5	%		-8.9	%
		75.2			90.8			-17.2	%		-17.1	%		304.1			357.7			-15.0	%		-14.8	%
Northern Europe		(16.5	)		(81.4	)		79.7	%		78.3	%		(44.6	)		(116.7	)		61.8	%		60.9	%
APME		15.8			21.6			-27.0	%		-28.3	%		83.7			92.6			-9.7	%		-3.7	%
		108.8			66.9									484.8			499.2
Corporate expenses		(32.5	)		(42.9	)								(146.1	)		(153.7	)
Goodwill impairment charges		—			(55.1	)								—			(55.1	)
Intangible asset amortization expense		(8.1	)		(8.4	)								(32.7	)		(34.6	)
Operating (loss) profit		68.2			(39.5	)		272.6	%		280.2	%		306.0			255.8			19.6	%		25.2	%
Interest and other expenses, net		(20.5	)		(15.5	)								(49.2	)		(49.9	)
Earnings (loss) before income taxes	$	47.7		$	(55.0	)							$	256.8		$	205.9