Company: ASGN
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000890564-25-000008
Chunk: 51

Company: ASGN Inc
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 51
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RESULTS OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2024 COMPARED WITH THE YEAR ENDED DECEMBER 31, 2023

In this section, we discuss the results of our operations for the year ended December 31, 2024 compared with the year ended December 31, 2023. For a discussion of the year ended December 31, 2023 compared with the year ended December 31, 2022, please refer to Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended December 31, 2023.

Revenues

Revenues for the year were $4.1 billion, down 7.9 percent year-over-year. The table below shows our revenues by segment (in millions). 

% of Total 20242023Change20242023ChangeCommercial:Assignment$1,740.5 $2,078.9 (16.3)%42.5 %46.7 %(4.2)%Consulting1,128.2 1,095.5 3.0 %27.5 %24.6 %2.9 %2,868.7 3,174.4 (9.6)%70.0 %71.3 %(1.3)%Federal Government1,231.0 1,276.2 (3.5)%30.0 %28.7 %1.3 %Consolidated$4,099.7 $4,450.6 (7.9)%100.0 %100.0 %

From an industry perspective, the Company operates in six broad industry verticals. Commercial Segment revenues (70.0 percent of total revenues) were down 9.6 percent year-over-year and are categorized into five broad industry verticals: (i) Financial Services, (ii) Consumer and Industrials, (iii) Healthcare, (iv) Technology, Media and Telecom ("TMT"), and (v) Business and Government Services. The TMT industry vertical had low single-digit growth, while the remaining four industry verticals declined year-over-year. Federal Government Segment revenues (30.0 percent of total revenues), the sixth industry vertical, were down 3.5 percent year-over-year, reflecting lower third-party software licenses revenues compared with the prior year. 

Total