What caused MAN's earnings volatility throughout 2024?

ManpowerGroup's earnings volatility in 2024 was primarily due to Revenue Decline and Net Income Growth Rate fluctuations:

1. Revenue Decline: The company experienced a decrease in total revenue, with a 2% drop in Q3 and a 7% decrease in Q1 compared to the previous year. This decline fell short of market estimates, indicating challenges in generating consistent revenue growth.
2. Net Income Growth Rate: The net income growth rate was positive, with a 0.63% increase in Q4. However, this was preceded by a significant decline in Q1, where net income dropped by approximately 50%. The volatility in net income was also reflected in the fluctuating earnings per share (EPS), with Q1 EPS of $0.81 missing estimates and Q4 EPS of $3.01 showing a slight increase.
3. Market and Economic Factors: The Professional Services industry, in which ManpowerGroup operates, is sensitive to economic conditions. The company faced challenges, such as weakened demand for staffing services and meaningful wage pressure, which affected profitability. These factors contributed to the volatility in earnings.

In summary, ManpowerGroup's earnings volatility in 2024 was driven by a combination of revenue decline and fluctuating net income growth rate, influenced by market and economic factors.