ASGN Incorporated (NYSE:ASGN) Q3 2022 Earnings Conference Call October 26, 2022 4:30 PM ET

Company Participants

Kimberly Esterkin - ADDO IR

Ted Hanson - CEO

Marie Perry - CFO

Randolph Blazer - President

Conference Call Participants

Tobey Sommer - Truist Securities

Jeffrey M. Silber - BMO Capital Markets

Heather Balsky - Bank of America

Surinder Thind - Jefferies

Kevin McVeigh - Credit Suisse

Mark Marcon - Baird

Operator

Good afternoon and welcome to ASGN Incorporated Third Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Kimberly Esterkin, from Investor Relations. Please go ahead.

Kimberly Esterkin

Thank you, operator. Good afternoon, and thank you for joining us today for ASGN’s Third Quarter 2022 Conference Call. With me are Ted Hanson, Chief Executive Officer; Rand Blazer, President; and Marie Perry, Chief Finance Officer.

Before we get started, I would like to remind everyone that our commentary contains forward-looking statements. Although we believe these statements are reasonable, they are subject to risks and uncertainties. And as such, our actual results could differ materially from those statements. Certain of these risks and uncertainties are described in today’s press release and in our SEC filings. We do not assume any obligation to update statements made on this call.

For your convenience, our prepared remarks and supplemental materials can be found in the Investor Relations section of our website at investors.asgn.com.

Please also note that on this call, we will be referencing certain non-GAAP measures such as adjusted EBITDA, adjusted net income and free cash flow. These non-GAAP measures are intended to supplement the comparable GAAP measures. Reconciliations between GAAP and non-GAAP measures are included in today’s press release.

I will now turn the call over to Ted Hanson, Chief Executive Officer.

Ted Hanson

Thank you, Kimberly, and thank you for joining ASGN’s Third Quarter 2022 Earnings Call. Before we begin, on behalf of the entire ASGN team, I’d like to welcome Marie Perry to her first earnings call as our CFO. We’re excited for Marie to participate in today’s discussion.

With that said, let’s now turn to our third quarter results. As is evident from our Q3 financials, growth continued to build quarter-over-quarter and demand for our services and solutions remain strong. Revenues which were a record for the third quarter came in above the midpoint of our guidance range for Q3 and totaled 1.2 billion up 11.6% year-over-year. This growth was largely driven by our commercial segment, and specifically our consulting business.