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Jun 30, 2023
ASGN Q2 2023 Earnings Report
Reported financial results for the quarter ended June 30, 2023, meeting or exceeding previously announced estimates.
Key Takeaways
ASGN Incorporated reported its Q2 2023 financial results, with revenues of $1.1 billion and a net income of $60.1 million. The results were supported by growth in commercial and federal consulting businesses, offset by softness in assignment services. Adjusted EBITDA margin was 12.0 percent.
Revenues were $1.1 billion.
Net income was $60.1 million.
Adjusted EBITDA was $135.2 million (12.0 percent of revenues).
Operating cash flows were $112.5 million and Free Cash Flow was $101.3 million.
Forward Guidance
The Company's financial estimates for the third quarter of 2023 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 $1,100.0 million and $1,120.0 million.
- Net income between $56.4 million and $60.4 million.
- Earnings per share (Diluted) between $1.16 and $1.24.
- Adjusted EBITDA between $130.0 million and $135.5 million.
- Adjusted Net Income per diluted share between $1.51 and $1.59.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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