Dafinchi AI

MAN

Industrial

Adjusted earnings per share decreased 43% year-over-year in constant currency to $0.78 on a diluted basis; reported EPS was a negative $1.44.
Americas segment revenue increased 2% year-over-year; U.S. revenue decreased 3% days adjusted.
Asia Pacific Middle East revenue increased 8% organically; Japan grew 7%.
Free cash flow was negative $207 million, impacted by timing and tax payments; expected to improve in second half of the year.
Gross profit margin was 16.9%, with a 30 basis point reduction due to staffing mix shifts.
Manpower brand grew 1% organically; Experis declined 9%; Talent Solutions grew 1%.
Net debt was $996 million with debt ratios reflecting 3.2x gross debt to trailing EBITDA and 39% debt to capitalization.
Northern Europe revenue declined 10% with restructuring charges impacting profitability.
Reported EBITDA margin was 1.6%, adjusted EBITDA margin was 2.0%.
Reported EBITDA was $72 million; adjusted EBITDA was $89 million, down 25% year-over-year in constant currency.
SG&A expenses as adjusted decreased 3% year-over-year on a constant currency basis.
Southern Europe revenue decreased 2% organically; France down 6%, Italy up 4%.
System-wide revenue was $4.9 billion, with reported revenue at $4.5 billion, down 3% year-over-year in constant currency.

ACCO

Industrial

Adjusted operating income for the second quarter was $47 million versus $65 million a year ago, impacted by lower volumes and deleveraging SG&A costs.
Americas segment comparable sales declined 14%, with adjusted operating income margin at 17.4%, below last year due to tariffs and softer volumes.
Consolidated leverage ratio at quarter end was 4.3x, with approximately $200 million available for borrowing under revolver.
Gross profit for the second quarter was $130 million, a decrease of 15%, with margin contracting about 200 basis points to 32.9%.
International segment comparable sales declined 4%, an improvement from the first quarter, with adjusted operating income margin increasing to 8.5%.
Second quarter sales decreased 10% with a slightly favorable FX impact, reflecting a quickly changing U.S. marketplace due to tariff announcements.
Year-to-date adjusted free cash flow was an outflow of $24 million, including $17 million in cash proceeds from sale of two owned facilities.

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