UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-35636 ASGN Incorporated (Exact name of registrant as specified in its charter) Delaware 95-4023433 (State or other jurisdiction of incorporation or organization) ...

ASGN Inc (ASGN) came out with quarterly earnings of $1.17 per share, beating the Zacks Consensus Estimate of $1.08 per share. This compares to earnings of $1.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +8.33%. A quarter ago, it was expected that this staffing company would post earnings of $0.95 per share when it actually produced earnings of $0.92, delivering a surprise of -3.16%.Over the last four quarters, the compan ...

Financial Data and Key Metrics Changes - ASGN reported revenues of $1,020,000,000 for Q2 2025, which was above the high end of guidance and represented a decrease of 1.4% year over year [6][23] - Adjusted EBITDA was $108,500,000 with an adjusted EBITDA margin of 10.6%, at the top end of expectations for the quarter [6][26] - Net income for the quarter was $29,300,000, and free cash flow was $115,800,000, translating to a conversion rate of approximately 107% of adjusted EBITDA [26][27] Business Line Data and Key Metrics Changes - Revenues from the commercial segment were $708,100,000, a decrease of 2.4% compared to the prior year, while commercial consulting revenues increased by 15.7% year over year to $325,700,000 [23][24] - Federal government segment revenues were $312,500,000, an increase of 1.1% year over year, including approximately $10,000,000 of higher than expected license revenue [24] - Assignment revenues totaled $382,400,000, reflecting a decline of 13.9% year over year due to macroeconomic softness [23] Market Data and Key Metrics Changes - The consumer and industrial accounts performed strongly, with mid double-digit growth year over year, driven by materials, utilities, and consumer discretionary accounts [11] - The healthcare vertical remained flat year over year, while financial services and TMT accounts saw declines compared to the previous year [11][12] - Federal contract awards totaled $72,000,000 for the quarter, with a book-to-bill ratio of 1.1 times on a trailing twelve-month basis [8] Company Strategy and Development Direction - ASGN is focusing on AI investments, recognizing the need for clients to stay competitive through technological advancements [29][30] - The company launched the ASGN AI Innovation Center to enhance innovation and promote AI-driven business growth [30][31] - Strategic partnerships with companies like AWS and Workday are being leveraged to build client-specific IP and enhance service offerings [67][70] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing macroeconomic uncertainties but highlighted continued client investment in AI and modernization efforts [6][29] - The recent increase in U.S. Defense spending is expected to benefit ASGN's federal business, particularly in AI and cybersecurity [9][48] - Management expressed cautious optimism regarding the recovery of discretionary spending and the potential for growth in consulting services [45][60] Other Important Information - The company has approximately $470,000,000 remaining under its share repurchase authorization [27] - Guidance for Q3 2025 estimates revenue between $992,000,000 and $1,012,000,000, with net income projected between $35,800,000 and $39,400,000 [28] Q&A Session Summary Question: How is TopLock performing relative to expectations? - Management indicated that TopLock is tracking just ahead of revenue and bookings expectations, contributing over $150,000,000 in revenues for the full year [36][37] Question: What impact is AI having on the cyclical assignment business? - Management stated that the assignment business remains stable and that current softness is largely due to macroeconomic factors rather than AI [39][42] Question: What is the long-term margin profile for the government consulting area? - Management noted that while higher margin work is diminishing, there are opportunities to increase direct labor, which could improve margins in the future [50][52] Question: What are the expectations for the impact of DOGE on revenues? - Management confirmed that the DOGE impact was expected to be less than 2% of total revenues, consistent with prior expectations [55] Question: What drove the strength in the consumer and industrial segments? - Management highlighted significant investments and demand in cloud, data, and AI as key drivers of strength in these segments [82][84] Question: How is ASGN using AI internally to improve efficiencies? - Management discussed ongoing efforts to implement AI across enterprise software tools to enhance productivity and streamline operations [87][89]

Financial Data and Key Metrics Changes - ASGN reported revenues of $1,020 million for Q2 2025, which was above the high end of guidance and represented a decrease of 1.4% year over year [5][23] - Adjusted EBITDA margin was 10.6%, at the top end of expectations for the quarter [5][27] - Net income for the quarter was $29.3 million, with free cash flow of $115.8 million, translating to a conversion rate of approximately 107% of adjusted EBITDA [27][28] Business Line Data and Key Metrics Changes - IT consulting revenues grew to approximately 63% of total revenues, up from 57% in the prior year [5] - Commercial consulting revenues totaled $325.7 million, an increase of 15.7% year over year, driven by contributions from TopLock [23] - Federal government segment revenues were $312.5 million, an increase of 1.1% year over year, including $10 million of higher than expected license revenue [23] Market Data and Key Metrics Changes - Consumer and industrial accounts showed mid double-digit growth year over year, driven by strong performance in materials, utilities, and consumer discretionary sectors [10] - The healthcare vertical remained flat year over year, while financial services and TMT accounts declined compared to the previous year [10][11] - Federal contract awards totaled $72 million for the quarter, with a book-to-bill ratio of 1.1 times [7] Company Strategy and Development Direction - ASGN is focusing on AI investments to enhance competitiveness and drive demand for cloud and data solutions [6][30] - The company launched the ASGN AI Innovation Center to unify AI expertise and promote business growth [31][33] - Strategic partnerships with companies like AWS and Workday are being leveraged to deliver tailored technology solutions [18][31] Management Comments on Operating Environment and Future Outlook - Management noted that macroeconomic uncertainty is impacting discretionary spending, but clients are still investing in AI to maintain competitiveness [5][30] - The recent increase in U.S. Defense spending is expected to benefit ASGN's federal business, particularly in AI and automation [8][30] - Management expressed cautious optimism regarding future growth, particularly in the commercial consulting space [63] Other Important Information - The company has approximately $470 million remaining under its $750 million share repurchase authorization [28] - ASGN plans to host an Investor Day in Q4 to discuss long-term strategies for growth and value creation [34] Q&A Session Summary Question: How is TopLock performing relative to expectations? - TopLock is tracking just ahead of revenue and bookings expectations, with EBITDA margins in the high teens [39] Question: What impact is AI having on the cyclical part of the assignment business? - The cyclicality is stable, with no significant impact from AI observed at this stage [46] Question: What is the long-term margin profile for the government consulting area? - The long-term margin profile is expected to remain in the 20% to 21% range, with opportunities for increasing direct labor [56] Question: What were the expectations regarding the DOGE impact? - The DOGE impact was expected to be less than 2% of total revenues, consistent with prior expectations [59] Question: Can you discuss the strength in the consumer and industrial segments? - Strength was driven by significant investments in cloud, data, and AI, particularly in materials and utilities [87][90] Question: How is ASGN using AI internally? - ASGN is implementing AI across enterprise software tools to enhance productivity and efficiency in operations [92]

Q2 2025 Earnings Supplemental Materials Safe Harbor Operating Data | | | Q2 | | | --- | --- | --- | --- | | | 2025 | | 2024 | | Results Operating | | | | | Revenues | $ 1,020.6 | $ | 1,034.7 | | Gross Profit | 293.3 | | 301.1 | | Net Income | 29.3 | | 47.2 | | Adjusted Net Income | 51.6 | | 62.6 | | Adjusted EBITDA | 108.5 | | 117.1 | | Margins | | | | | Gross | 28.7% | | 29.1% | | EBITDA Adjusted | 10.6% | | 11.3% | | Earnings per Share - Diluted | | | | | Income per Share | $ 0.67 | $ | 1.02 | | Net Incom ...

Exhibit 99.1 ASGN Incorporated Reports Second Quarter 2025 Results Revenues Exceed High-End of Guidance Estimates July 23, 2025 RICHMOND, VA.— (BUSINESS WIRE) -- ASGN Incorporated (NYSE: ASGN), a leading provider of IT services and solutions to the commercial and government sectors, reported financial results for the quarter ended June 30, 2025. Highlights IT Consulting Revenues - Approximately 63 percent of total revenues Management Commentary "ASGN reported solid results for the second quarter. Revenues o ...

Wall Street expects a year-over-year decline in earnings on lower revenues when ASGN Inc (ASGN) reports results for the quarter ended June 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on July 23, might help the stock move higher if these key numbers are better than expectations. On t ...

Investor Presentation Certain statements made in this news release are "forward-looking statements" within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information includes estimates of the company's future financial and operating performance. Certain data and statements in this presentation, other than those setting forth strictly historical information, are forward-looking and are not guar ...

Summary of ASGN Conference Call Company Overview - ASGN operates in the IT services sector with approximately $4 billion in revenues, primarily in the US [3] - The company serves large enterprise accounts, with 70% of revenue from Fortune 500 clients across various industries, including financials, consumer, industrials, TMT, and business services [3] - About 30% of revenue comes from the federal government, mainly serving the Department of Defense, National Intelligence, and Department of Homeland Security [3] Core Business Insights - ASGN has a diverse account portfolio, which provides stability and resilience in varying economic conditions [4] - The company is transitioning from IT staffing to higher-value consulting services, which is expected to drive strategic growth [6] - ASGN's flexible cost structure and strong free cash flow allow for strategic acquisitions and investments [4][12] Financial Performance - The company has a gross margin structure influenced by business mix, with government segments typically having lower margins compared to commercial consulting [8] - ASGN achieved an EBITDA margin target of 12-12.5% within 18 months, driven by growth in commercial consulting [20] - Free cash flow conversion from EBITDA is between 60-65%, with a balanced capital allocation strategy focusing on organic growth, share repurchase, and M&A [11][12] Market Dynamics - Clients are cautious about discretionary spending due to macroeconomic uncertainties, impacting IT investment decisions [22][25] - There is a noted increase in business confidence post-election, leading to improved bookings in commercial consulting and federal spaces [24] - The demand for IT services is driven by the need for AI, data modernization, application development, and cybersecurity [36] Strategic Initiatives - ASGN's acquisition of TopLock enhances its capabilities within the Workday ecosystem, targeting medium enterprises [18][19] - The company is focusing on integrating AI and cloud services into its offerings while managing investments based on market conditions [30][31] - ASGN is positioned to leverage its technical expertise in AI and data to meet client needs, despite the current cautious environment [27][34] Government Segment Insights - The federal government accounts for about 30% of ASGN's revenue, with a significant portion from defense-related contracts [38] - Recent shifts in government spending focus on defense and technology, with ongoing discussions about improving efficiency and outcomes in federal contracts [39] - Strong bookings in the government sector indicate potential future revenue growth, despite slower conversion rates from bookings to revenue [43] Conclusion - ASGN is strategically positioned to capitalize on the evolving IT landscape, focusing on high-margin consulting services and leveraging its expertise in emerging technologies like AI and cloud computing [17][26] - The company remains vigilant in monitoring macroeconomic indicators that could influence client spending and investment in technology [44]

Leadership Transition - SmartBug Media announced a strategic leadership transition, promoting Adam Bleibtreu to CEO effective July 1, 2025, while founder Ryan Malone will remain as chairman of the board [1][4] - Bleibtreu has extensive executive experience and has been instrumental in overseeing SmartBug's strategic direction and growth initiatives [2][5] Executive Background - Adam Bleibtreu previously served as CMO at ASGN Incorporated, where he contributed to the company's revenue growth from $2.2 billion to over $4 billion through strategic acquisitions and organic growth [3] - His leadership experience spans various sectors, including technology, staffing, and digital marketing, positioning him well to lead SmartBug's mission [3] Company Vision and Strategy - Malone emphasized the importance of handing leadership to someone with the right skills and experience, highlighting Bleibtreu's client-centric approach and vision for the company [3] - Bleibtreu expressed excitement about leading SmartBug at a pivotal moment, focusing on the intersection of client needs, marketing technologies, and digital transformation [5] Company Recognition - SmartBug Media has been recognized as HubSpot's 2024 North American Partner of the Year and is a top-performing Elite Global Solutions Partner [5][7]