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ASGN Incorporated (ASGN) is a leading provider of professional staffing and IT solutions, operating across technology, digital, creative, engineering, and life sciences fields. The company serves both commercial and government sectors within the United States and internationally, offering a wide range of services through its three main segments: Apex, Oxford, and ECS.
The Apex segment specializes in supplying technology, digital, creative, scientific, and engineering professionals for contract, contract-to-hire, and permanent placement roles. Apex primarily caters to Fortune 1000 clients and mid-market companies, providing them with critical talent to drive their business operations.
The Oxford segment focuses on delivering highly specialized technology, digital, engineering, and life sciences staffing and consulting services. Known for its expertise in finding hard-to-reach talent, Oxford operates in various skill and geographic markets, ensuring that clients receive top-notch consultancy and staffing solutions.
The ECS segment is dedicated to providing advanced IT solutions, including cloud services, cybersecurity, artificial intelligence, machine learning, application modernization, and science and engineering. ECS serves both commercial enterprises and government entities, including the Department of Defense, intelligence agencies, and civilian agencies, with a strong focus on mission-critical solutions.
Established in 1985 and originally known as On Assignment, Inc., the company rebranded to ASGN Incorporated in April 2018. Headquartered in the United States, ASGN has built a robust reputation for its comprehensive service offerings and ability to meet the evolving needs of its diverse client base.
Recent Achievements and Projects:
- Expansion of cloud services and cybersecurity solutions through the ECS segment, serving both commercial and government clients.
- Strategic partnerships with Fortune 1000 companies to strengthen their digital and technological capabilities.
- Recognition in the industry for providing innovative staffing solutions that address gaps in the technology and life sciences sectors.
With a strong financial foundation and a commitment to delivering high-quality services, ASGN Incorporated continues to position itself as a key player in the professional staffing and IT solutions industry, maintaining a focus on growth and innovation to meet the demands of an ever-changing market.
ASGN achieved significant milestones in Q1 2023, reporting revenues of $1.1 billion, a 3.5 percent increase over Q1 2022. IT consulting revenues constituted 50.4 percent of total revenues, a notable rise from 42.4 percent the previous year. The company generated $49.5 million in net income and $123.5 million in adjusted EBITDA, representing a margin of 10.9 percent. The commercial segment saw revenues at $832.1 million, while federal government revenues increased 15.0 percent year-over-year. New bookings reached an impressive $392 million, with a trailing-twelve-month total of $1.3 billion. However, assignment revenue declined by 10.8 percent, reflecting cyclical trends. A new $500 million stock repurchase program has been approved.
ASGN Incorporated (NYSE: ASGN) has announced its first quarter 2023 financial results will be released on April 26, 2023, at 4:05 p.m. ET, followed by a conference call at 4:30 p.m. ET, hosted by CEO Ted Hanson. Prepared remarks will be made available on the company's website prior to the call. Interested parties can join the call by dialing 877-407-0792 (or +1-201-689-8263 internationally), using Conference ID 13737097. A replay will be accessible from 7:30 p.m. ET on April 26 until May 10, 2023, with specific dial-in details provided. ASGN is a leader in IT services and solutions, catering to both commercial and government sectors.
ECS has secured a $19 million contract with the Defense Manpower Data Center (DMDC) under the U.S. Department of Defense. This five-year contract focuses on operation and maintenance support for ServiceNow instances, enhancing digital modernization efforts. ECS, a leading provider in digital transformation solutions, aims to optimize workflows and improve services for military personnel and their families. The company has an extensive history of successful ServiceNow deployments across various DoD agencies, showcasing its expertise in managing complex IT processes. This contract further solidifies ECS's role in modernizing DoD operations.
ASGN Incorporated (NYSE: ASGN), a provider of IT services and professional solutions, will participate in the BofA Securities 2023 Information and Business Services Conference on March 16, 2023, in New York City. CEO Ted Hanson and CFO Marie Perry will present at 2:30 p.m. ET and engage in investor meetings throughout the day. The presentation will be available via live webcast with a replay accessible on ASGN's Investor section. ASGN specializes in technology and creative digital marketing services for both commercial and government sectors, aiding organizations in developing critical IT solutions.
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