ManpowerGroup Inc. (NYSE: MAN) stocks fell 75.39 USD −2.96 (3.78%) on 19th October 2018 (as on 4:10 PM GMT–4 Source: Google Finance) impacted by the stronger U.S. dollar relative to foreign currencies compared to the prior year period. The company reported that net earnings per diluted share for the three months ended September 30, 2018 were $2.43 compared to $2.04 in the prior year period. Net earnings in the quarter were $158.0 million compared to $137.7 million a year earlier. Revenues for the third quarter were $5.4 billion, a decrease of 1% from the year earlier period.
Net earnings for the nine months ended September 30, 2018 were $398.4 million, or $6.03 per diluted share compared to net earnings of $329.1 million, or $4.84 per diluted share in the prior year. Revenues for the nine-month period were $16.6 billion, an increase of 8% from the prior year in reported U.S. dollars or 4% in constant currency. SG&A expense was $674 million an increase of $2 million from the prior year. SG&A expenses as a percentage of revenue in the quarter represented 12.4% which was a good result in a challenging revenue quarter. The Americas segments comprised 19% of consolidated revenue. Revenue in the quarter was $1 billion representing 2% growth year-over-year on constant currency. OUP of $51 million represented a decrease of 11% in constant currency driven by the U.S. Similarly, OUP margin decreased by 70 basis points year-over-year. Revenue in the U.S. was $633 million down 4% compared to the prior year.
Free cash flow is defined as cash from operations fewer capital expenditures was $262 million during the first nine months of the year compared to $247 million in the prior year period. The third quarter experienced positive free cash flow of $113 million which compared to $125 million in the year ago period. During the quarter we purchased 2.1 million shares of stock for 189 million bringing total purchases for the nine-month period to 3.2 million shares for 299 million. As of September 30, 2018 we have 5.7 million shares remaining for purchase under the six million share program approved in August of 2018. Our balance sheet was strong at quarter end with cash of $683 million and total debt of $1.08 billion bringing our net debt to $396 million.