ASGN (NYSE:EFOR) Issues Earnings Results

Posted by Francis Steltz on Jul 30th, 2026

ASGN (NYSE:EFOR – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.09, Briefing.com reports. ASGN had a return on equity of 10.30% and a net margin of 2.46%.The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $983.00 million. During the same quarter in the previous year, the firm posted $1.17 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. ASGN updated its Q3 2026 guidance to 0.920-1.100 EPS.

Here are the key takeaways from ASGN’s conference call:

Second-quarter results exceeded guidance, with revenue above $1 billion and adjusted EBITDA margin of 9.6%, both above the high end of the company’s outlook.
Commercial bookings improved meaningfully, including stronger-than-expected Workday demand, lifting trailing-12-month book-to-bill to 1.2x. Management said bookings conversion has returned toward historical norms and expects commercial revenue to reach year-over-year growth by the fourth quarter.
Everforth reported broad-based sequential improvement across all five commercial verticals and cited growing demand for AI, cloud infrastructure, cybersecurity, and enterprise platforms. The company also highlighted new federal AI and cybersecurity awards, hyperscaler data-center work, and potential revenue synergies from Quinnox.
Revenue remained down year over year in both commercial consulting, by 0.9%, and federal government, by 2.3%; federal trailing-12-month book-to-bill was only 0.8x. The company expects more meaningful federal revenue acceleration in the fourth quarter and into 2027.
Third-quarter guidance calls for revenue of $994 million to $1.024 billion and adjusted EBITDA margin of 9.6% to 10.3%, while including $7.5 million to $9.5 million of strategic-planning expenses. Free-cash-flow conversion was 48% of adjusted EBITDA in the quarter versus a full-year target of 60%–65%, and management prioritized debt repayment following the Quinnox acquisition.

ASGN Trading Up 17.4%

EFOR stock traded up $4.08 during trading hours on Thursday, hitting $27.49. 1,823,843 shares of the stock traded hands, compared to its average volume of 1,055,722. The firm has a 50-day moving average of $19.52. The firm has a market capitalization of $1.13 billion, a P/E ratio of 12.16 and a beta of 0.52. ASGN has a one year low of $16.90 and a one year high of $54.94. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.82.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EFOR. Robert W. Baird cut their price objective on shares of ASGN from $62.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. BMO Capital Markets lowered shares of ASGN from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a research report on Thursday, April 23rd. Weiss Ratings cut shares of ASGN from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Jefferies Financial Group upgraded shares of ASGN from an “underperform” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $22.00 in a research report on Friday, May 29th. Finally, Wells Fargo & Company reduced their price target on shares of ASGN from $33.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $28.67.

Read Our Latest Stock Report on EFOR

Institutional Investors Weigh In On ASGN

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in shares of ASGN by 106.4% during the 4th quarter. Russell Investments Group Ltd. now owns 62,934 shares of the company’s stock valued at $3,032,000 after purchasing an additional 32,437 shares in the last quarter. New South Capital Management Inc. raised its holdings in shares of ASGN by 39.2% in the 4th quarter. New South Capital Management Inc. now owns 635,011 shares of the company’s stock worth $30,588,000 after purchasing an additional 178,895 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of ASGN by 190.8% in the 4th quarter. Parallel Advisors LLC now owns 1,390 shares of the company’s stock worth $67,000 after purchasing an additional 912 shares in the last quarter. Finally, Horizon Investments LLC acquired a new stake in ASGN during the third quarter valued at approximately $515,000. 95.36% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting ASGN

Here are the key news stories impacting ASGN this week:

Positive Sentiment: ASGN reported second-quarter adjusted earnings of $0.91 per share, exceeding the $0.82 consensus estimate. Revenue of $1.01 billion also surpassed expectations of approximately $983 million to $987 million. ASGN Second-Quarter Results
Positive Sentiment: The quarter included $96.7 million in adjusted EBITDA, $52.2 million in operating cash flow, $46.3 million in free cash flow, and the repurchase of approximately 400,000 shares. These results support the company’s financial flexibility and shareholder-return program. ASGN Second-Quarter Results
Neutral Sentiment: ASGN issued third-quarter EPS guidance of $0.92 to $1.10, bracketing the analyst consensus estimate of $1.00. The midpoint is broadly in line with expectations, but the range indicates some uncertainty around near-term performance.
Negative Sentiment: Despite the earnings beat, quarterly revenue declined 1.3% year over year, while EPS fell from $1.17 in the prior-year period. The results therefore show solid execution against estimates but continued pressure on growth and profitability.
Negative Sentiment: Wells Fargo lowered its ASGN price target from $33 to $26 and assigned an “equal weight” rating. The new target implies approximately 5.4% downside from the referenced share price, creating a negative catalyst for the stock. Wells Fargo Price Target Update

About ASGN

(Get Free Report)

ASGN is a provider of professional services that connects skilled talent with organizations seeking technology, digital, creative and engineering expertise. The firm focuses on staffing and workforce solutions, delivering contract and permanent placement services as well as project-based consulting and managed services to support clients’ technical and operational needs.

Its offerings commonly include IT consulting, digital transformation support, application development and maintenance, data and analytics, cybersecurity, cloud services and engineering resources.