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Dec 31, 2019
ASGN Q4 2019 Earnings Report
ASGN reported strong Q4 2019 results, with revenues up 10.3% year-over-year and all numbers meeting or exceeding guidance.
Key Takeaways
ASGN Incorporated reported Q4 2019 financial results with revenues of $1.0 billion, a 10.3% increase year-over-year. Net income was $39.3 million, and adjusted EBITDA was $116.2 million, up from $109.1 million in the fourth quarter of 2018.
Revenues increased by 10.3% year-over-year, reaching $1.0 billion.
Net income was $39.3 million ($0.74 per diluted share).
Adjusted Net Income was $68.3 million ($1.28 per diluted share).
Adjusted EBITDA was $116.2 million, up from $109.1 million in the fourth quarter of 2018.
ASGN
ASGN
ASGN Revenue by Segment
Revenue by Segment
Assignment Revenues Revenue
CapyFin.com Forward Guidance
ASGN provided financial estimates for the first quarter of 2020, expecting revenues between $990.0 million and $1.0 billion.
Positive Outlook
- Revenues of $990.0 million to $1.0 billion
- Gross margin of 28.1 percent to 28.4 percent
- Net income of $42.3 million to $45.9 million
- Earnings per diluted share of $0.79 to $0.86
- Adjusted EBITDA of $100.0 million to $105.0 million
Challenges Ahead
- SG&A expenses (excludes amortization of intangible assets) of $196.7 million to $197.5 million (includes $8.1 million in depreciation and $9.0 million in stock-based compensation expense)
- Amortization of intangible assets of $12.2 million
- Interest expense of $11.3 million
- Effective tax rate of 27.1 percent (before any excess tax benefits related to stock-based compensation)
- Adjusted Net Income of $54.4 million to $58.1 million