Asgn Inc Stock Price, News & Analysis

ASGN Incorporated reported its Q4 and full-year 2024 financial results. Q4 revenues reached $985.0 million, with net income of $42.4 million and Adjusted EBITDA of $109.7 million (11.1% of revenues). Full-year 2024 revenues were $4.1 billion with net income of $175.2 million.

The Commercial Segment generated 70.3% of total revenues at $692.7 million, while the Federal Government Segment contributed 29.7% at $292.3 million. IT consulting revenues represented 58.6% of total revenues at $577.0 million. The company repurchased 0.5 million shares for $43.9 million in Q4.

For Q1 2025, ASGN projects revenues between $950.0-$970.0 million with an expected Adjusted EBITDA margin of 9.6-9.8%. The company also announced the acquisition of TopBloc for $340 million and a leadership transition with Shiv Iyer becoming President effective March 1, 2025.

BV Investment Partners has announced a definitive agreement to sell TopBloc, a tech-enabled Workday consultancy, to ASGN Incorporated (NYSE: ASGN). Founded in 2016 and based in Chicago, TopBloc has completed over 300 Workday installations in the past five years, serving medium and large enterprise customers across North America.

TopBloc provides Workday deployment services and support across six industry verticals, including financial management, human capital management, and payroll management. The company's team of over 500 consultants will join ASGN's Consulting Services upon completion of the transaction.

The deal is subject to Hart-Scott-Rodino and other customary closing conditions, with an expected closing during the first quarter of 2025.

ASGN Incorporated (NYSE: ASGN) has announced a definitive agreement to acquire TopBloc, a Workday consultancy, for $340 million in cash and equity. The transaction is expected to close in Q1 2025.

TopBloc, founded in 2016 and based in Chicago, provides Workday deployment services and support for human capital, financial, and payroll management. With over 300 Workday installations in five years and 500+ consultants, TopBloc will join ASGN's Consulting Services.

TopBloc is projected to generate approximately $150 million in revenues for 2025, representing over 20% year-over-year growth, with EBITDA margins in the high teens. The company serves six industry verticals and will be immediately accretive to ASGN on an adjusted basis.

ASGN Incorporated (NYSE: ASGN) announced a leadership transition, with current President Rand Blazer moving to Executive Vice Chairman on March 1, 2025. Shiv Iyer, former Americas Consulting and Industry X Lead Executive at Accenture, will succeed as President.

Iyer brings over 20 years of consulting experience, having led Accenture's Consulting and Industry X solutions across the Americas. He previously served as Market Unit Lead, US Midwest, and started his career at Wipro Infotech in India.

Blazer, who has been instrumental in ASGN's growth over the past 12 years, guided the company's transformation from a diversified staffing player to a provider of high-end IT services. He joined Apex Systems in 2007 and became ASGN's President in 2022. In his new role, Blazer will assist in Iyer's transition and continue advising on strategic initiatives.

ASGN Incorporated (NYSE: ASGN) has announced its upcoming fourth quarter and full year 2024 earnings conference call, scheduled for Wednesday, February 5, 2025, at 4:30 p.m. ET. The company will publish its financial results and prepared remarks on its website before the call.

Interested parties can join the conference using the dial-in number 877-407-0792 (or +1-201-689-8263 for international calls) with Conference ID 13750060. A replay will be available from 7:30 p.m. ET on February 5 until February 19, 2025, accessible via 844-512-2921 (or +1-412-317-6671 internationally) with replay code 13750060. The webcast will be available at www.asgn.com.

ECS, an ASGN brand specializing in IT systems integration, has announced a strategic partnership with SAS, a global data and AI leader, to enhance AI capabilities for federal agencies and commercial health systems. The collaboration will leverage ECS's expertise in federal health IT solutions and SAS's Viya platform to address various healthcare challenges, including reducing clinician burnout, optimizing supply chains, and automating contact center support.

The partnership aims to deliver advanced analytics and machine learning solutions across multiple critical applications, including public safety, health monitoring, risk management, and policy compliance oversight. ECS will implement SAS solutions to help federal agencies address complex operational needs, building on SAS's nearly 50-year history of serving the federal government.

ECS, an ASGN brand, has secured a $96 million prime contract from the Department of Health and Human Services' Advanced Research Projects Agency for Health (ARPA-H). This four-year contract follows ECS's earlier selection as prime contractor on a $500 million IDIQ STATS contract in 2024.

The company will collaborate with ARPA-H's Health Science Futures (HSF) and Scalable Solutions (SSO) mission offices, providing programmatic support in biotechnology, neuroscience, regenerative medicine, and cell therapies. ECS will address healthcare access, equity, and global supply chain challenges while offering strategic planning and financial management support.

Apex Systems UK, an ASGN brand (NYSE: ASGN), has achieved Great Place to Work® certification for the fourth consecutive year. The certification process involves a Trust Index™ survey and Culture Brief questionnaire, requiring organizations to score above 65%. The survey highlighted unanimous employee agreement on fair treatment regardless of orientation, race, or gender, and a secure work environment.

The company maintains a comprehensive approach to employee development through formal and informal training initiatives, regular innovation discussions, and community engagement through charitable efforts.

ECS, an ASGN brand specializing in IT systems integration, has been ranked second on CyberRisk Alliance and MSSP Alert's Top 250 Managed Security Service Providers list for 2024, moving up one spot from last year. This marks the fifth consecutive year ECS has been recognized among top competitors. The company offers various managed security solutions including MDR, XDR, and SOCaaS, serving both commercial and federal industries. Their Advanced Research Center (ARC) provides active threat intelligence and hunting to protect networks against sophisticated cyber threats.