ASGN rporated(ASGN) - 2025 Q1 - Quarterly Results

Financial Performance - Total revenues for Q1 2025 were $968.3 million, a decrease from $1.05 billion in Q1 2024[5] - Net income for Q1 2025 was $20.9 million, down from $38.1 million in the same period last year[9] - Adjusted EBITDA for Q1 2025 was $93.6 million, representing 9.7% of revenues, compared to $108.3 million or 10.3% in Q1 2024[10] - SG&A expenses increased to $214.5 million from $210.2 million in Q1 2024, including a $4.4 million write-off related to software enhancements[8] - Cash provided by operating activities for Q1 2025 was $16.8 million, a decrease of 77% from $73.3 million in Q4 2024[24] - Free Cash Flow for Q1 2025 was $6.6 million, down 89% from $62.5 million in Q4 2024[24] - Net income for Q1 2025 was $20.9 million, a decline of 45% compared to $38.1 million in Q4 2024[26] - Adjusted EBITDA for Q1 2025 was $93.6 million, down 13.5% from $108.3 million in Q4 2024[26] - The company expects net income for Q2 2025 to be between $29.3 million and $34.3 million[28] - Adjusted Net Income for Q2 2025 is projected to range from $45.5 million to $50.5 million[28] Revenue Segments - IT consulting revenues accounted for approximately 61% of total revenues, up from 56.7% in Q1 2024[6] - The Commercial Segment generated revenues of $672.2 million, down from $731.5 million in Q1 2024, while the Federal Government Segment revenues were $296.1 million, down from $317.5 million[5] - New bookings in the Commercial Segment for the trailing twelve months were $1.3 billion, with a book-to-bill ratio of 1.1[3] - New contract awards in the Federal Government Segment for the trailing twelve months were $1.5 billion, with a book-to-bill ratio of 1.2[3] - The company reported a book-to-bill ratio for the Commercial consulting business, indicating strong demand for new contracts[33] - The company anticipates continued growth in the Federal Government Segment with new contract awards expected to contribute to future revenues[34] Acquisitions and Investments - The company completed the acquisition of TopBloc for $340 million, financed with 90% cash and 10% equity[11] Future Outlook - The company expects Q2 2025 revenues to range between $985 million and $1.015 billion, reflecting current market conditions[12] - Total assets increased to $3,698.4 million in Q1 2025, up from $3,429.0 million in Q4 2024[24] - Long-term debt rose to $1,282.6 million in Q1 2025, an increase of 24% from $1,033.5 million in Q4 2024[24]