Company: ASGN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000890564-25-000028
Chunk: 36

Company: ASGN Inc
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 36
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7.5 (6.7 %)30.6 %30.3 %0.3 %Consolidated$968.3 $1,049.0 (7.7 %)100.0 %100.0 %    

From an industry perspective, the Company operates in six broad industry verticals. Commercial Segment revenues (69 percent of total revenues) were down 8.1 percent year-over-year and are categorized in five verticals: (i) Financial Services, (ii) Consumer and Industrial, (iii) Technology, Media, and Telecom ("TMT"), (iv) Healthcare, and (v) Business Services. The Consumer and Industrial vertical was up mid-single digits, while the remaining four industry verticals declined year-over-year. Federal Government Segment revenues (31 percent of total revenues), the sixth industry vertical, were down 6.7 percent year-over-year mainly due to a few programs that ended and a slight impact from the Department of Government Efficiency's cost-cutting efforts.

Total IT consulting revenues were $586.2 million (61 percent of total revenues), down 1.4 percent year-over-year. Commercial Segment consulting revenues were $290.1 million, up 4.7 percent year-over-year. Federal Government Segment revenues, which are all consulting revenues, were $296.1 million, down 6.7 percent year-over-year as stated above. Assignment revenues, which totaled $382.1 million (39 percent of total revenues), were down 15.9 percent year-over-year, reflecting continued softness in the portions of the Commercial Segment business that are more sensitive to changes in macroeconomic cycles.

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Gross Profit and Gross Margin

The table below shows gross profit and gross margin by segment for the three months ended March 31, 2025 and 2024 (in millions).

Gross ProfitGross Margin20252024Change20252024ChangeCommercial $217.7 $233.8 (6.9 %)32.4 %32.0 %0.4 %Federal Government 57.7 62.4 (7.5 %)19.5 %19.7 %(0.2 %)Consolidated$275.4 $296.2 (7.0 %)28.4 %28.2 %0.2 % 

Gross profit is comprised of revenues less costs of services, which consist primarily of compensation