ASGN Inc. (ASGN) Tops Q4 EPS by 16c

ASGN Inc. (NYSE: ASGN) reported Q4 EPS of $1.31, $0.16 better than the analyst estimate of $1.15. Revenue for the quarter came in at $1.01 billion versus the consensus estimate of $984.68 million.

“ASGN reported very strong results for the fourth quarter of 2020, with revenues, Adjusted EBITDA and EPS all exceeding the high end of our guidance ranges,” said ASGN President and Chief Executive Officer, Ted Hanson. “As a result of our strong fourth quarter performance, full year revenues reached nearly $4.0 billion, a true testament to the resiliency of our business. Our significant exposure to mission-critical federal government work, combined with our ability to provide high-end digital transformation services to the commercial marketplace, helped insulate our business from swings in the economy. At the same time, our deployment model enabled our employees to work offsite and still provide the high level of service our clients expect. Together, our team never lost focus on our operations or our execution.”

Mr. Hanson continued, “As this was not ASGN’s first experience with an economic downturn, we entered COVID-19 with a good sense of how our business would perform even if we could not predict the scale of disruption that a global pandemic would have on the overall economy. We expected that our free cash flow generation and Adjusted EBITDA margins would remain strong, and they did exactly that, with Adjusted EBITDA and free cash flow exceeding our internal expectations. As a result of this strong free cash flow generation, we made four acquisitions in 2020 without the need to take on additional leverage. We enter 2021 on very solid footing, remaining acquisition-ready and well positioned to support our commercial and government clients on their most critical IT needs.”

For earnings history and earnings-related data on ASGN Inc. (ASGN) click here.

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