ASGN Q4 2022 Earnings Report
Key Takeaways
ASGN Incorporated reported strong financial results for Q4 2022, with revenues reaching $1.2 billion, a 9.2% increase year-over-year. The company's consulting business now represents 49% of total revenues, reflecting a shift towards higher-margin consulting work.
Revenues were $1.2 billion, up 9.2 percent over the fourth quarter of 2021.
Income from continuing operations was $55.6 million.
Adjusted EBITDA was $131.9 million (11.5 percent of revenues), up from the fourth quarter of 2021.
Cash flows provided by continuing operations was $75.3 million and Free Cash Flow was $64.8 million.
ASGN
ASGN
ASGN Revenue by Segment
Forward Guidance
The Company's financial estimates for the first quarter of 2023 are based on current operating trends and assume no significant deterioration in the markets ASGN serves.
Positive Outlook
- Revenues are expected to be between $1,140.0 million and $1,160.0 million.
- Net income is projected to be between $51.2 million and $54.8 million.
- Diluted earnings per share are estimated to be between $1.02 and $1.10.
- Adjusted EBITDA is expected to range from $128.5 million to $133.5 million.
- Adjusted Net Income per diluted share is projected to be between $1.37 and $1.45.