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ASGN Incorporated (ASGN)
NYSE:ASGN
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Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.21Last Year’s EPS
$1.45Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -9.86%
|Next Earnings Date:Feb 05, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a company experiencing stable performance in certain areas like consulting and federal bookings, but also facing challenges such as year-over-year revenue declines and economic uncertainties impacting IT spending. ASGN is making strategic advancements in AI and data services, positioning itself for future growth.Company Guidance
During ASGN's Q3 2024 earnings call, the company provided guidance indicating stable market demand with revenues at $1.031 billion, aligning with their guidance range. The adjusted EBITDA margin was 11.3%, falling within the midpoint of their guidance, reflecting the shift towards high-value consulting solutions. The commercial consulting sector, which now constitutes approximately 60% of total revenues, showed a year-over-year increase of 3.9% in revenues, with bookings at $282.5 million and a book-to-bill ratio of 1.1x. In the federal segment, revenues rose 1% sequentially, with net new contract awards reaching $666.4 million and a book-to-bill ratio of 2.1x for the quarter. ASGN also maintained a strong backlog of over $3.1 billion, covering 2.5 times the segment's trailing 12-month revenues. The guidance for Q4 2024 anticipates revenues between $990 million and $1.01 billion, with an adjusted EBITDA margin ranging from 10.4% to 10.6%, despite the seasonal headwinds of fewer billable days.Stable Revenue and Growth in Consulting
Q3 2024 revenues of $1.031 billion were similar to the second quarter and within guidance. Commercial Consulting revenues improved 3.9% year-over-year and were also up 1.2% sequentially.
Federal Segment Success
Federal segment revenues improved 1% sequentially. Net new contract awards were $666.4 million, with a book-to-bill ratio of 2.1x for the third quarter.
Improved Gross Margins
Gross margin for the third quarter of 2024 was 29.1%, an increase of 20 basis points from the third quarter of last year.
Strong Bookings and Backlog
Contract backlog was over $3.1 billion at the end of the third quarter, or a coverage ratio of 2.5x the segment's trailing 12-month revenues.
AI and Data Initiatives
ASGN is expanding capabilities in AI and data, providing solutions for clients like Fortune 500 retailers and public utilities, improving efficiencies and customer satisfaction.
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ASGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ASGN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $93.04 | $93.87 | +0.89% |
| Jul 24, 2024 | $101.83 | $92.77 | -8.90% |
| Apr 24, 2024 | $102.11 | $98.72 | -3.32% |
| Feb 07, 2024 | $94.37 | $95.57 | +1.27% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does ASGN Incorporated (ASGN) report earnings?
ASGN Incorporated (ASGN) is schdueled to report earning on Feb 05, 2025, TBA Not Confirmed.
What is ASGN Incorporated (ASGN) earnings time?
ASGN Incorporated (ASGN) earnings time is at Feb 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ASGN EPS forecast?
ASGN EPS forecast for the fiscal quarter 2024 (Q4) is $1.21.
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