ASGN
ASGN Incorporated47.75
-0.20-0.42%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A adds Quinox, margin details
Q&A largely reaffirmed prepared remarks on AI-driven consulting growth and Quinox acquisition, but added color on federal gross margins stabilizing near 20% post-Doge anniversary in March 2026. Management detailed $80 million cost savings over three years, ramping after moderate 2026 impact. Quinox's 1,500-2,000 person India bench promises faster cross-sell synergies than prior deals, with low-40s% gross margins. AI boosts demand across readiness and scaling, without stalling legacy projects. End-markets steady; big banks await inflection. No shutdown drama. Investors eye federal award ramp.
Key Stats
Market Cap
2.09BP/E (TTM)
16.19Basic EPS (TTM)
2.95Dividend Yield
0%Recent Filings
10-K
FY2025 results
ASGN's FY2025 revenues dipped 2.9% y/y to $4.0B, with Commercial down 2.7% yet consulting up 14.4% to $1.3B on Consumer/Industrial strength, while assignment plunged 13.8%; Federal fell 3.3% to $1.2B from DOGE contract losses. Gross margins held 28.9%, Commercial up 30bps on consulting mix, Federal down 70bps from low-margin licenses. Q4 saw $1.4B stock buybacks at ~$46/share, $972M authorized remaining, revolver with $455M available. Bookings accelerated: Commercial 1.2x, Federal backlog steady at $2.9B. Client terminations at will threaten momentum.
8-K
Q4 revenues top guidance
ASGN hit Q4 revenues of $980.1 million at the high end of guidance, with Adjusted EBITDA at $107.9 million (11.0% margin), but net income fell to $25.2 million from prior year amid DOGE-driven federal contract losses. Full-year free cash flow topped $288.1 million; repurchased $170.1 million in shares. Quinnox acquisition announced for $290 million cash. Q1 revenues eyed $960-980 million.
8-K
ASGN acquires Quinnox for $290M
ASGN signed a definitive agreement to acquire Quinnox for $290 million in cash, expected to close in March 2026 after HSR clearance. Quinnox, with ~$100M 2025 revenue and low-20% Adjusted EBITDA margins, bolsters ASGN's digital engineering via offshore delivery and AI expertise. Deal accretive to Adjusted EPS in first full year post-close. Q4 2025 guidance reaffirmed at high end: $960-980M revenue, $102-107M Adjusted EBITDA.
10-Q
Q3 FY2025 results
ASGN's Q3 revenues dipped 1.9% y/y to $1,011.4M while gross margin expanded 0.3% to 29.4%, but operating income fell 14% y/y to $67.9M and diluted EPS dropped to $0.87 from $1.06 amid higher amortization from the TopBloc deal. Commercial consulting surged 17.5% y/y to $334.9M (33% of total), offsetting assignment softness, yet Federal Government eased 3.9%. Closed TopBloc in March 2025 for $340.0M (90% cash), recognizing $247.9M goodwill and $42.1M customer relationships (7-year life). Cash sits at $126.5M with $460M revolver availability; long-term debt $1,165.7M. Operating cash flow generated $225.6M YTD. Share repurchases continue. Funded backlog holds steady. Wage-hour litigation lingers.
8-K
Q3 revenues $1.01B, tops guidance
ASGN reported Q3 2025 revenues of $1.01 billion, down slightly from $1.03 billion year-ago, but hit guidance highs with net income at $38.1 million and Adjusted EBITDA of $112.6 million (11.1% margin). IT consulting surged to 63% of revenues, up from 58%, fueled by 17.5% commercial growth; yet assignment revenues softened. Book-to-bill ratios held firm: 1.2x commercial, 1.0x federal. Q4 guides $960-980 million revenues.
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