Company: ASGN
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000890564-25-000039
Chunk: 68

Company: ASGN Inc
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 7
Chunk 68
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 of 2025 and 2024 were $1.28 billion and 5.6 percent, and $1.04 billion and 6.0 percent, respectively. 

Provision for Income Taxes

The provision for income taxes was $12.1 million, down from $17.4 million in the second quarter of 2024 due to lower income before income taxes. The effective tax rate was 29.2 percent, up from 26.9 percent in the second quarter of 2024. The increase in the effective tax rate relates to shortfalls on stock-based compensation. 

Net Income

Net income was $29.3 million, down from $47.2 million in the second quarter of 2024.

14

RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2025 COMPARED WITH THE SIX MONTHS ENDED JUNE 30, 2024

Revenues

Revenues for the first six months of the year were $2.0 billion, down 4.5 percent year-over-year. The table below shows our revenues by segment for the six months ended June 30, 2025 and 2024 (in millions).

% of Total20252024Change20252024ChangeCommercialConsulting615.8 558.5 10.3%31.0%26.8%4.2%Assignment764.5 898.7 (14.9%)38.4%43.1%(4.7%)1,380.3 1,457.2 (5.3%)69.4%69.9%(0.5%)Federal Government608.6 626.5 (2.9%)30.6%30.1%0.5%Consolidated$1,988.9 $2,083.7 (4.5%)100.0%100.0%        

Commercial Segment revenues (69.4 percent of total revenues) were down 5.3 percent year-over-year. The Consumer and Industrial vertical was up low double digits, while the remaining four industry verticals declined year-over-year. Federal Government Segment revenues (30.6 percent of total revenues), the sixth industry vertical, were down 2.9 percent year-over-year.

Total IT consulting services revenues were $1.2 billion (61.6 percent of total revenues), up 3.3 percent year-over-year. Commercial Segment consulting revenues were $615