Solid Revenue and EBITDA Performance
ASGN delivered solid performance in the third quarter, with revenues reaching $1.01 billion and an adjusted EBITDA margin of 11.1%, both at the high end of guidance ranges.
Growth in IT Consulting
The IT consulting business continues to be a key growth driver, representing approximately 63% of total revenues in the third quarter, up from 58% in the same period last year.
Increase in AI and Data Projects
ASGN has seen an increase in projects focused on data and AI, application development and engineering, customer experience, and cybersecurity, highlighting a significant commitment to digital advancement.
Healthcare Industry Performance
The healthcare industry saw the largest sequential growth, up high single digits as compared to the year ago, driven by healthcare provider, pharmaceutical, and biotech clients.
Strong Federal Segment Bookings
In the federal segment, new contract awards totaled $461 million for the third quarter, with a book-to-bill of 1.5 times for the quarter.