Monitor Q2 2026 guidance for margin recovery and Quinnox integration progress; the significant GAAP EPS miss and margin compression outweigh the in-line revenue, suggesting underlying profitability challenges.
Price Chart
Executive Summary
ASGN reported Q1 2026 revenue of $968.3M, flat YoY and in line with guidance, but GAAP EPS of $0.13 missed consensus by 87% due to a $12.8M acquisition-related expense. Adjusted EBITDA fell 9.1% YoY to $83.6M (8.6% margin), pressured by commercial margin compression. The company completed the $290M Quinnox acquisition and rebranded to Everforth.
Key Financial Metrics
Key Facts
- Q1 2026 Revenue: $968.3M (flat YoY, in line with guidance range of $960M-$980M)
- GAAP EPS: $0.13 (missed consensus of $0.97 by 87%) due to $12.8M in acquisition/integration expenses
- Adjusted EBITDA: $83.6M (8.6% margin), down from $93.6M (9.7% margin) in Q1 2025
- Commercial segment gross margin compressed 140 bps YoY to 31.0% due to business mix and FX
- Completed $290M cash acquisition of Quinnox in March 2026, funded by revolver
- Rebranded to Everforth, Inc. effective April 24, 2026, with new ticker EFOR
Financial Impact
Adjusted EBITDA margin down 110 bps YoY; $12.8M in non-recurring acquisition costs suppressed GAAP EPS
Risk Factors
- Integration risk from $290M Quinnox acquisition diluting near-term margins
- Commercial segment margin pressure from business mix and FX
- Federal Government revenue decline (-1.1% YoY) due to DOGE-related contract losses
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000890564-26-000020 |
| Document: asgn-20260422.htm | 0000890564-26-000020 |
| Document: 0000890564-26-000020-index-headers.html | 0000890564-26-000020 |
| Document: 0000890564-26-000020-index.html | 0000890564-26-000020 |
| Document: 0000890564-26-000020.txt | 0000890564-26-000020 |
| 8-K Data (Synthetic) | 0000890564-26-000020 |
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