Loading...
•
Sep 30, 2021
ASGN Q3 2021 Earnings Report
ASGN reported record financial performance for the quarter and raised financial estimates for the fourth quarter of 2021.
Key Takeaways
ASGN Incorporated reported exceptional results for the third quarter, with revenues and Adjusted EBITDA both surpassing previously increased guidance estimates. Impressive organic growth in the Commercial Segment and solid results in the Federal Government Segment drove continued momentum. The company is increasing its fourth quarter guidance.
Revenues for the quarter were $1.1 billion, up 18.7 percent over the third quarter of 2020 (14.1 percent excluding contributions from acquired businesses)
Income from continuing operations was $66.3 million, up 42.0 percent from the third quarter of 2020
Adjusted EBITDA from continuing operations was $136.6 million (12.7 percent of revenues), up from $101.9 million (11.3 percent of revenues) in the third quarter of 2020
Net income was $212.0 million, which was comprised of income from continuing operations of $66.3 million and income from discontinued operations of $145.7 million
Revenue by Segment
Forward Guidance
The Company is increasing its financial estimates for the fourth quarter. Revenue estimates have been increased by $20.0 million and Adjusted EBITDA estimates have been increased by $5.0 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...