ASGN (ASGN) To Report Earnings Tomorrow: Here Is What To Expect

IT services provider ASGN (NYSE:ASGN) will be reporting earnings tomorrow after market hours. Here’s what to look for.

ASGN missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $985 million, down 8.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates.

Is ASGN a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting ASGN’s revenue to decline 8.3% year on year to $962.3 million, a further deceleration from the 7.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.95 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ASGN has missed Wall Street’s revenue estimates four times over the last two years.

Looking at ASGN’s peers in the it services & other tech segment, only Applied Digital has reported results so far. It missed analysts’ revenue estimates by 17.9%, delivering year-on-year sales growth of 22.1%. The stock was down 36% on the results.

Read our full analysis of Applied Digital’s earnings results here.

Inflation has progressed towards the Fed’s 2% goal as of late, leading to strong stock market performance. Recent rate cuts and the 2024 Presidential election's conclusion added further sparks to the market, and while some of the it services & other tech stocks have shown solid performance, the group has generally underperformed, with share prices down 11.3% on average over the last month. ASGN is down 9.1% during the same time and is heading into earnings with an average analyst price target of $79.17 (compared to the current share price of $57.92).

Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.