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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 Incorporated reported its Q2 2024 financial results, with revenues of $1.035 billion and net income of $47.2 million. The company's Adjusted EBITDA was $117.1 million, representing 11.3% of revenues. IT consulting revenues accounted for 57.1% of total revenues, up from 53.1% a year ago. The Commercial Segment saw a 10.6% year-over-year decline, while the Federal Government Segment decreased by 3.3%. Despite cautious client spending, ASGN remains focused on higher-value IT consulting solutions. The company repurchased 1.1 million shares for $108.0 million and provided financial estimates for Q3 2024, projecting revenues between $1.024 billion and $1.044 billion.
ASGN Incorporated (NYSE: ASGN) will host its second quarter 2024 earnings release and conference call on Wednesday, July 24, 2024, at 4:30 p.m. ET. Financial results and prepared remarks will be available on the company's website before the call. The conference call can be accessed by dialing 877-407-0792 (or +1-201-689-8263 outside the U.S.), using Conference ID number 13746773.
A replay will be available from 7:30 p.m. ET on July 24, 2024, until August 7, 2024. The replay can be accessed by dialing 844-512-2921 (or +1-412-317-6671 outside the U.S.), using the same access code.
The webcast for the conference call will be accessible at www.asgn.com.
ECS, a leader in advanced technology and an ASGN brand, has been named a prime contractor on the FBI's Information Technology Supplies and Support Services 2nd Generation (ITSSS-2) blanket purchase agreement. The contract, with a ceiling of $8 billion over eight years, enables ECS to provide critical IT services and technology solutions to the FBI and the Department of Justice. ECS has supported the FBI since 1995 and will offer AI-infused IT solutions and emerging technologies under this agreement.
ECS, a leader in advanced technology solutions and an ASGN brand, has received its seventh Top Workplaces award from The Washington Post. The award recognizes ECS as one of 250 organizations in the Washington area for 2024, based on employee feedback on various workplace aspects such as development, appreciation, pay, and work-life balance.
ECS emphasizes employee experience by investing in training, skills growth, and education. The company also supports employee-nominated charitable causes, matching their donations. Initiatives like ECS Pitch Day encourage innovation, allowing employees to present new ideas. ECS also fosters inclusivity through 10 diverse employee resource groups, including groups for Women Professionals, Black Professionals, and LGBTQIA+ Professionals.
John Heneghan, president of ECS, credits the award to the dedication and community spirit of ECS employees. He emphasizes the company's commitment to continued investment in its workforce.
ASGN has released its fifth annual Environmental Social Governance (ESG) Report, highlighting significant strides in sustainability and corporate responsibility. Key achievements include submitting a near-term 2030 emissions reduction target and a net-zero 2050 target to the Science Based Targets initiative. ASGN also earned the ISO 14001 Certification for its headquarters, signifying compliance with international environmental management standards. Notably, the company launched a Company-wide Mentorship Program and a Culture and Inclusion Council to enhance workplace diversity and inclusion. Additionally, ASGN initiated its first Enterprise Risk Management assessment and established an Enterprise Security Council to bolster cybersecurity efforts.
ASGN announced the appointment of Patricia Obermaier to its Board of Directors, effective immediately.
Obermaier, currently Chief Growth Officer and VP, Strategic Initiatives at Microsoft's Global Health Life Sciences Division, brings over 30 years of industry experience. She has also founded Resigility and held leadership roles at Iqvia and Unisys.
She will join ASGN's Strategy and Technology Committee. This appointment comes alongside the retirement of Mariel Joliet, marking a notable change in ASGN's Board composition.
ASGN's Board now consists of 10 directors, 3 of whom are women. The company emphasizes its commitment to board diversity and inclusion, with further details to be available in the upcoming 2023 ESG Report.
Creative Circle, a prominent marketing and creative services firm under ASGN (NYSE: ASGN), has unveiled its 2024 Client Pulse Report. The report delves into the integration and impact of artificial intelligence (AI) within creative and marketing teams. Data from a survey of 463 leaders reveal that 82% use AI, with 45% employing it frequently. However, 89% encounter barriers to full AI adoption, highlighting a need for more AI skills and competencies. To bridge this gap, 66% of respondents plan to seek AI-specific training, hires, or consultants. Creative Circle aims to support this transition by providing necessary expertise and solutions to maximize AI's benefits.
ASGN Incorporated (NYSE: ASGN), a prominent IT services and professional solutions provider for commercial and government sectors, announced its participation in two key conferences in June 2024.
The Baird 2024 Global Consumer, Technology & Services Conference will be held on June 4, 2024, in New York City. ASGN CEO Ted Hanson and CFO Marie Perry will present at 12:50 p.m. ET and engage in investor meetings throughout the day.
The company will also take part in the William Blair 44th Annual Growth Stock Conference on June 5, 2024, in Chicago. Hanson and Perry will present at 8:00 a.m. CT and hold investor meetings all day. Presentations will be webcast live, with replays available on ASGN's investor website.
Creative Circle, a leading marketing and creative services firm, has won ClearlyRated’s 2024 Client and Talent Awards for service excellence. This marks their sixth consecutive win on the talent side and fourth on the client side. They achieved exceptional ratings and reviews, with a high Net Promoter Score and positive client and candidate feedback.
Apex Systems, part of ASGN, has been recognized as a VETS Indexes Recognized Employer for its commitment to veterans and the military-connected community. The company has a history of supporting veterans through various initiatives and partnerships. Dylan Kodad, National Veteran advocate, highlighted the dedication to empowering veterans in the IT field. Apex Systems has received accolades for its efforts, including being named a Hire Heroes USA Top 5 Employer in 2021.
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