Revenue Exceeds Expectations
ASGN reported revenues of $1.02 billion, which were above the high-end of the guidance range.
Strong IT Consulting Revenue Growth
IT consulting revenues grew to approximately 63% of total revenues, up from 57% in the year-ago period.
Commercial Consulting Bookings Increase
Commercial consulting bookings totaled $417.5 million, translating to a book-to-bill of 1.2x on a trailing 12-month basis.
Federal Contract Backlog
New federal contract backlog was over $2.9 billion at quarter end, or a coverage ratio of 2.4x the segment's trailing 12-month revenues.
Free Cash Flow and Share Repurchase
Free cash flow was $115.8 million for the quarter, a conversion rate of approximately 107% of adjusted EBITDA. ASGN repurchased approximately 200,000 shares.
AI Innovation Center Launch
ASGN launched the AI Innovation Center to enhance innovation, optimize resource utilization, and promote AI-driven business growth.