ManpowerGroup Inc. (NYSE: MAN) reported third-quarter revenue rose 5.4% on a constant currency basis to $4.80 billion, and gross margin improved to 18.3%.

The Milwaukee-based staffing giant noted results were impacted by a strong US dollar.

US revenue jumped 37.5% in the third quarter; however, it was up 8% on an organic basis. ManpowerGroup last year acquired ettain group in a $925 million deal.

“Our third-quarter results reflect continued improvements in our business mix and demand for our services despite increasing global uncertainty tied to higher inflation, energy costs and interest rates,” Chairman and CEO Jonas Prising said. “During the quarter, our higher-margin Experis and Talent Solutions brands experienced strong revenue growth, while our Manpower brand achieved modest constant currency revenue growth.”

Prising said labor markets remain resilient and the company is seeing solid demand as it begins the fourth quarter.

Breaking down revenue by the company’s three divisions — Manpower, Experis and Talent Solutions — the company cited growth of 1% in its Manpower segment on an organic, constant currency basis. However, the company’s Experis operations posted revenue growth of 10% in the third quarter on an organic, constant currency basis. The company reported strong demand led by the US. Talent Solutions posted third-quarter growth of 5% on an organic, constant currency basis with the company reporting significant growth led by strong RPO trends during the third quarter.

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Guidance

For the fourth quarter, ManpowerGroup forecasts:

• Total revenue: Down 9% to 13% (down 1% to up 3% in constant currency)
• Americas revenue: Down 2% to up 2% (flat to up 4% in constant currency)
• Southern Europe revenue: Down 11% to 15% (down 1% to up 3% in constant currency)
• Northern Europe revenue: Down 16% to 20% (down 4% to flat in constant currency)(down 1% to up 3% on an organic, constant currency basis)
• Asia Pacific Middle East: Down 9% to 13% (Up 2% to 6% in constant currency)

Share price and market cap

Shares in ManpowerGroup were up 4.57% to $75.58 as of 11:49 a.m. Eastern time today; they were 18.09% above their 52-week low, according to FT.com. The company had a market cap of $3.77 billion.