IT services provider ASGN (NYSE: ASGN) will be announcing earnings results this Wednesday after the bell. Here’s what to expect.
ASGN beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $968.3 million, down 7.7% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS guidance for next quarter estimates and a 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 3.7% year on year to $996.6 million, improving from the 8.5% decrease it recorded in the same quarter last year.
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 three times over the last two years.
Looking at ASGN’s peers in the it services & other tech segment, only Accenture has reported results so far. It beat analysts’ revenue estimates by 2.3%, delivering year-on-year sales growth of 7.7%. The stock was down 3.6% on the results.
Read our full analysis of Accenture’s earnings results here.There has been positive sentiment among investors in the it services & other tech segment, with share prices up 4.5% on average over the last month. ASGN is down 1.9% during the same time.
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