Q1 2025 ASGN Inc Earnings Call Transcript
Key Points
- ASGN Inc (ASGN) reported revenues of $968.3 million and an adjusted EBITDA margin of 9.7%, in line with guidance expectations.
- IT consulting revenues grew to 61% of total revenues, up from 57% in the prior year period.
- The acquisition of TopBloc is tracking ahead of bookings, revenue, and adjusted EBITDA expectations.
- Strong bookings in both commercial and government segments, with a book-to-bill ratio of 1.2 times for the quarter.
- ASGN Inc (ASGN) continues to deliver high-value IT services, focusing on AI, data solutions, cybersecurity, and cloud engineering.
- Revenues decreased by 7.7% year over year, with the Commercial segment down by 8.1%.
- Federal Government segment revenues declined by 6.7% year over year due to program endings and DOGE impacts.
- Assignment revenue decreased by 16% year over year, reflecting softness in certain commercial segments.
- SG&A expenses increased slightly, including acquisition and integration costs, and a one-time write-off related to software enhancements.
- Macroeconomic factors such as higher inflation and uncertainty regarding tariffs have led to cautious IT spending by clients.
Greetings, and welcome to the ASGN Incorporated first-quarter 2025 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Kimberly Esterkin, Vice President of Investor Relations. Thank you. You may begin.
Good afternoon. Thank you for joining us today for ASGN's first-quarter 2025 conference call. With me are Ted Hanson, Chief Executive Officer; Shiv Iyer, President; Marie Perry, Chief Financial Officer; and Rand Blazer, Executive Vice Chairman.
Before we get started, I would like to remind everyone that our commentary contains forward-looking statements. Although we believe these statements are reasonable, they are subject to risks and uncertainties, and as such, our actual results could differ materially from those statements. Certain of these risks and uncertainties are described in today's press release and in our SEC filings. We do not assume any obligation to update statements made
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