ManpowerGroup delivered a strong second quarter of 2026 that management framed as a meaningful step-change in organic growth. Reported revenue was $4.9 billion, up 7.5% year-over-year and 6% on an organic days-adjusted constant-currency basis, well above the 3% guidance midpoint, driven by the Manpower brand's 8% constant-currency growth (its fifth consecutive quarter of growth, with the U.S. up 16%). Adjusted EBITDA rose 15% in constant currency to $103 million with margin up 10 basis points to 2.1%, and adjusted EPS of $0.99 beat the $0.96 midpoint; reported GAAP diluted EPS was $1.13, boosted by a $0.37 gain on the sale of the U.S. Jefferson Wells business and a discontinued-business liquidation, net of $0.23 of restructuring and transformation costs (operating profit was $112.0 million, a ~2.3% margin). Beyond Manpower, Experis (-2%) and Talent Solutions (flat) both improved sequentially, permanent recruitment crossed to flat, Northern Europe returned to profit, and the U.K. returned to growth. The softer points were still-negative Experis and free cash flow (a $9 million outflow, though much improved from -$207 million a year ago), a thin 2.1% EBITDA margin, a 60-basis-point year-over-year staffing gross-margin decline (mix plus the higher-margin Jefferson Wells sale), no share repurchases, and a high 44% Q3 tax rate. Management is executing a strategic transformation program targeting $200 million of permanent cost savings by 2028 (~$20 million back-office this year, ~$80 million in 2027), leaning heavily into AI as both an effectiveness lever (a sales-targeting engine scaling to ~70% of revenue and screening tools cutting time-to-fill 67%) and a commercial growth multiplier via partnerships (SoundHound AI, IBM watsonx, Accenture, SAP, Microsoft) targeting $50-$100 million of partnership revenue this year. Guidance calls for continued ~6% organic constant-currency revenue growth and $0.96-$1.06 EPS in Q3, with management now characterizing Manpower as having moved from stabilization into recovery.