ASGN Reports Strong Q2 Earnings Exceeding Guidance
Everforth (formerly ASGN) reported second-quarter results that exceeded guidance, driven by stronger commercial bookings and better-than-expected federal revenue. Revenue surpassed $1 billion with an adjusted EBITDA margin of 9.6%. Commercial consulting bookings rose double digits year-over-year, supported by enterprise platform activity including Workday projects. Federal operations also outperformed expectations due to cybersecurity work for the Department of Homeland Security and Navy data-and-AI initiatives. The company reported a backlog of approximately $2.7 billion in federal contracts. Everforth maintained a positive outlook for Q3 with revenue guidance between $994 million and $1.024 billion, while management emphasized debt repayment as a priority following its Quinnox acquisition. The firm ended the quarter with strong free cash flow of 48% of adjusted EBITDA and refinanced its credit facility to support future financial flexibility.
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Topics: commercial_bookings ebitda federal_demand guidance revenue