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Mar 31, 2024
ASGN Q1 2024 Earnings Report
ASGN achieved solid results with revenues and Adjusted EBITDA near the top-end of guidance ranges and approved a new $750 million stock repurchase program.
Key Takeaways
ASGN reported revenues of $1.05 billion and a net income of $38.1 million for the first quarter of 2024. The company's IT consulting revenues continued to grow, representing 56.7% of consolidated revenues.
Revenues reached $1.05 billion.
Net income was $38.1 million.
Adjusted EBITDA was $108.3 million, representing 10.3% of revenues.
The company refinanced its term loan B, reducing the interest rate by 50 basis points.
ASGN
ASGN
ASGN Revenue by Segment
Revenue by Segment
Commercial Segment Revenue
CapyFin.comFederal Government Segment Revenue
CapyFin.comIT Consulting Revenue
CapyFin.comAssignment Revenues Revenue
CapyFin.com Forward Guidance
The company's financial estimates for the second quarter of 2024 are based on current operating trends and assume no significant deterioration in the markets ASGN serves. These estimates do not include any acquisition, integration or strategic planning expenses.
Positive Outlook
- Revenues between $1,034.5 million and $1,054.5 million
- Net income between $44.7 million and $48.3 million
- Earnings per diluted share between $0.97 and $1.04
- Gross margin between 28.9% and 29.2%
- Adjusted EBITDA between $114.0 million and $119.0 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income