ASGN Incorporated (NYSE:ASGN) Q2 2022 Results Conference Call July 27, 2022 4:30 PM ET
Company Participants
Kimberly Esterkin - ADDO IR
Ted Hanson - CEO
Edward Pierce - CFO
Randolph Blazer - President
Conference Call Participants
Heather Balsky - Bank of America
Jeffrey Silber - BMO Capital Markets
Mark Marcon - Baird
Samuel Kusswurm - William Blair
Tobey Sommer - Truist Securities
Operator
Greetings, and welcome to ASGN Incorporated Second 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, Investor Relations. Thank you. You may begin.
Kimberly Esterkin
Thank you, operator. Good afternoon, and thank you for joining us today for ASGN's Second Quarter 2022 Conference Call. With me are Ted Hanson, Chief Executive Officer; Rand Blazer, President; Ed Pierce, Chief Financial Officer; and Marie Perry, Executive Vice President.
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 Second Quarter 2022 Earnings Call. As is evident from our second quarter results, we had a strong first half to the calendar year. Revenues for the second quarter surpassed the high end of our guidance range and totaled $1.1 billion, up 17.1% year-over-year and up 4.7% sequentially, driven by the continued strength of our Commercial segment as well as growth in our Federal Government segment despite a difficult year-over-year comparable. Our Commercial segment accounted for 74.5% of consolidated revenues, while our Federal Government segment accounted for the remaining 25.5% of revenues. Adjusted EBITDA also surpassed our estimates for the quarter and was up 20.7% year-over-year and up 6.8% sequentially to total $144 million.