Financial Data and Key Metrics Changes - Q3 2024 revenues were $1.031 billion, a decrease of 7.7% year-over-year but flat compared to Q2 2024 [20] - Adjusted EBITDA margin was 11.3%, reflecting the company's shift towards higher-end consulting solutions [4][22] - Gross margin for Q3 2024 was 29.1%, an increase of 20 basis points year-over-year [21] Business Line Data and Key Metrics Changes - Commercial segment revenues were $718.8 million, down 8.1% year-over-year, while commercial consulting revenues increased by 3.9% year-over-year to $285 million [20][6] - Federal Government segment revenues were $312.2 million, a decrease of 6.6% year-over-year but up 1% sequentially [20] - Book-to-bill ratio for the Commercial Segment was 1.1 times, indicating solid demand despite a focus on renewals [6] Market Data and Key Metrics Changes - TMT (Technology, Media, and Telecommunications) revenues grew by 10.9% year-over-year, driven by software and e-Commerce [6] - The Financial Services vertical showed slight growth, particularly in Regional Banks and Insurance Services [7] - The Federal Segment's contract backlog exceeded $3.1 billion, with a coverage ratio of 2.5 times trailing 12-month revenues [15] Company Strategy and Development Direction - The company is focusing on enhancing its consulting capabilities, particularly in data analytics, cloud, cybersecurity, and AI applications [5][14] - ASGN aims to differentiate itself by integrating comprehensive solutions across various industry verticals and leveraging partnerships with technology leaders [14] - The company is strategically positioning itself to support clients' IT roadmaps, particularly in the context of increasing demand for AI and digital transformation [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding IT spending, noting that clients are beginning to regain confidence [30] - The company anticipates stable market conditions in Q4 2024, with no significant uptick in IT spending expected [24] - Management highlighted the importance of foundational work in data management and cybersecurity to fully leverage AI opportunities [27] Other Important Information - Free cash flow for Q3 2024 was $127.9 million, representing a conversion rate of approximately 109% of adjusted EBITDA [22] - The company repurchased approximately one million shares for $95.6 million, with $573 million remaining under its share repurchase authorization [23] Q&A Session Summary Question: What trends are being monitored to become more bullish on IT spending? - Management noted that confidence in the economy, including interest rates and inflation, is crucial for clients to invest in IT [30] Question: Has the growth trend in commercial consulting stabilized? - Management indicated that low single-digit growth rates are expected, with solid bookings suggesting potential for higher growth in the future [32] Question: Can you elaborate on the strategy for solution architect additions? - The focus is on enhancing solution strength to meet evolving client needs, particularly in AI and security [35] Question: What is the outlook for IT spending in 2025? - While specific spending rates cannot be predicted, strong demand in the pipeline suggests potential for growth [36] Question: Any signs of stabilization in the assignment business? - Management observed stability in the assignment business, although perm placement has weakened [39] Question: How is the staffing model adapting to Gen AI productivity improvements? - Clients will still require talent, and the company is deploying AI to enhance productivity internally [41] Question: What is the outlook for the financial services vertical? - The financial services sector is showing improvement, particularly in regional banks, with expectations for increased staffing opportunities [46] Question: When will recent contract wins convert to revenue? - Most contributions from recent wins are expected to impact 2025 more significantly than Q4 2024 [68] Question: How is the company preparing for AI initiatives? - The company is focused on data cleanup and restructuring to support future AI applications [70]

For the quarter ended September 2024, ASGN Inc (ASGN) reported revenue of $1.03 billion, down 7.7% over the same period last year. EPS came in at $1.43, compared to $1.68 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.04 billion, representing a surprise of -0.41%. The company delivered an EPS surprise of +5.93%, with the consensus EPS estimate being $1.35.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

ASGN Inc (ASGN) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.93%. A quarter ago, it was expected that this staffing company would post earnings of $1.33 per share when it actually produced earnings of $1.36, delivering a surprise of 2.26%.Over the last four quarters, the company ...

Exhibit 99.1 ASGN Incorporated Reports Third Quarter 2024 Results Adjusted EBITDA and gross margins at midpoint or top end of guidance estimates October 23, 2024 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 September 30, 2024. Highlights • Revenues were $1.031 billion • Net income was $47.5 million • Adjusted EBITDA (a non-GAAP measure) was $116.9 mi ...

Wall Street expects a year-over-year decline in earnings on lower revenues when ASGN Inc (ASGN) reports results for the quarter ended September 2024. 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 October 23, 2024, might help the stock move higher if these key numbers are better than expe ...

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, 2024 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 of Incorporation) (I.R.S. Employer Identification No.) 4 ...

ASGN Incorporated (NYSE:ASGN) Q2 2024 Earnings Conference Call July 24, 2024 4:30 PM ET Company Participants Kimberly Esterkin - Vice President of Investor Relations Theodore Hanson - Chief Executive Officer Marie Perry - Chief Financial Officer Randolph Blazer - President Conference Call Participants Trevor Romeo - William Blair Mark Marcon - Baird Joseph Vafi - Canaccord Emily Marzo - Bank of America Surinder Thind - Jefferies Tobey Sommer - Truist Securities Operator Greetings, and welcome to the ASGN In ...

For the quarter ended June 2024, ASGN Inc (ASGN) reported revenue of $1.03 billion, down 8.5% over the same period last year. EPS came in at $1.36, compared to $1.59 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.05 billion, representing a surprise of -1.17%. The company delivered an EPS surprise of +2.26%, with the consensus EPS estimate being $1.33.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they c ...

ASGN Inc (ASGN) came out with quarterly earnings of $1.36 per share, beating the Zacks Consensus Estimate of $1.33 per share. This compares to earnings of $1.59 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.26%. A quarter ago, it was expected that this staffing company would post earnings of $1.16 per share when it actually produced earnings of $1.16, delivering no surprise.Over the last four quarters, the company has surp ...

Exhibit 99.1 ASGN Incorporated Reports Second Quarter 2024 Results Adjusted EBITDA margin at the top end of guidance estimates July 24, 2024 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, 2024. Highlights • Revenues were $1.035 billion • Net income was $47.2 million • Adjusted EBITDA (a non-GAAP measure) was $117.1 million (11.3 percent of rev ...