ASGN: 10-Q · periodic report
Everforth reported a significant decline in earnings for the six months ended June 30, 2026, with net income falling 61% year-over-year to $19.7 million. Revenue remained relatively flat at $2.0 billion, but profitability was pressured by a $22.6 million increase in acquisition and integration expenses, along with higher interest rates on outstanding debt. The company completed the acquisition of Quinnox Inc. in March 2026 for $290.0 million in cash, adding $173.6 million in customer relationship intangibles and $137.4 million in goodwill. This acquisition expanded the company's commercial segment capabilities but contributed to a rise in amortization expenses and a reduction in operating margins. Liquidity remains strong with $152.9 million in cash and equivalents and $180.0 million available under the revolving credit facility as of period end. Subsequent to the quarter, the company amended its credit facility to increase revolver capacity to $600.0 million, extend maturity to 2031, and repay its Term Loan A, improving financial flexibility.
ASGN: 8-K · earnings release
Everforth reported second quarter 2026 revenue of $1.01 billion and net income of $14.2 million, exceeding the high end of company guidance estimates. Adjusted EBITDA reached $96.7 million for a 9.6% margin, and free cash flow was $46.3 million, driven by strength in the Commercial enterprise platform portfolio. Despite beating guidance, year-over-year results declined, with revenue decreasing from $1.02 billion and net income dropping from $29.3 million in the prior year. Gross margin compressed to 28.3%, primarily due to a lower mix of high-margin permanent placement revenues and foreign exchange impacts. The company returned capital to shareholders through the repurchase of 0.4 million shares for $11.5 million and repaid $23.9 million in debt during the quarter. Subsequent to quarter end, Everforth completed a refinancing to establish a new five-year, $600 million revolving credit facility.
ASGN: 8-K · debt financing
Everforth, Inc. entered into a Third Amendment to its Third Amended and Restated Credit Agreement, increasing the aggregate commitments under its revolving credit facility from $500.0 million to $600.0 million. The amendment extends the maturity of the facility from February 14, 2028, to July 7, 2031, and adjusts the interest rate to range from Term SOFR plus 1.75% to 2.75 percent. Proceeds from the borrowing were used to pay off the Company’s existing $100 million Term A loans in full, strengthening the company's balance sheet and financial flexibility.
ASGN: 8-K · proxy statement
Everforth, Inc. reported the voting results from its 2026 Annual Meeting of Stockholders, where 38.9 million shares were represented by proxy. Stockholders ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026. Three director nominees, Mark A. Frantz, Carol J. Lindstrom, and Arshad Matin, were elected to serve until the 2029 annual meeting, while Jonathan S. Holman retired from the Board. The advisory vote to approve executive compensation for the year ended December 31, 2025, was also approved by stockholders.
Everforth Inc., formerly ASGN Incorporated, reported fiscal first-quarter revenue of $968.3 million, remaining flat compared to the prior year. Net income fell 73% to $5.5 million, or $0.13 per share, down from $20.9 million in the same period last year, driven by higher integration expenses and segment margin pressure. The company completed the acquisition of Quinnox Inc. in March 2026 for $290.0 million in cash to strengthen its commercial digital solutions capabilities. The transaction added $137.7 million in goodwill and $173.6 million in identifiable intangible assets related to customer relationships. Management noted that Federal Government Segment revenues declined 1.1% year-over-year, attributing the decrease to initiatives associated with the Department of Government Efficiency (DOGE). During the quarter, the company repurchased approximately $39.0 million of its common stock, leaving $934.0 million available under its current authorization.
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ASGN reported Q1 2026 revenue of $968.3 million, in line with guidance but flat year-over-year, while net income dropped significantly to $5.5 million and Adjusted EBITDA margins compressed to 8.6%. The company completed the $290 million cash acquisition of Quinnox, funded through debt, and announced the upcoming rebrand to Everforth, Inc. effective April 24, 2026, with a new NYSE ticker EFOR. Capital allocation included the repurchase of 0.8 million shares for $39.0 million, leaving approximately $934 million remaining under the repurchase authorization, while Q2 revenue guidance is set between $970.0 million and $1,000.0 million.
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