ASGN Incorporated (NYSE:ASGN) Q4 2019 Earnings Conference Call - Final Transcript

Feb 12, 2020 • 05:00 pm ET

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ASGN Incorporated (NYSE:ASGN) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings, and welcome to the ASGN Incorporated Fourth Quarter and Full Year 2019 Earnings Call. [Operator Instructions].

I will now turn the conference over to your host, Kimberly Esterkin, Investor Relations.

Executive
Kimberly Esterkin

Thank you. Good afternoon and thank you for joining us today for ASGN's Fourth Quarter 2019 Conference Call. With me are Ted Hanson, President and Chief Executive Officer; Rand Blazer, President of Apex Systems; George Wilson, President of ECS; and Ed Pierce, Chief Financial 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 financial 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 the GAAP and non-GAAP measures are included in today's press release.

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

Executive
Theodore S. Hanson

Thank you, Kimberly. And thank you for joining ASGN's Fourth Quarter and Full Year 2019 Earnings Call. Before we get started, I have a quick housekeeping item to discuss. In the interest of time and efficiency, beginning on today's earnings call, we've decided to streamline our prepared remarks to include myself along with ASGN's Chief Financial Officer Ed Pierce. Rand Blazer, President of Apex Systems; and George Wilson President of ECS are also on the line and will be available to answer your questions during the Q&A session. Now, let's turn to the results. 2019 was a year of many accomplishments for ASGN as we continue to pursue our strategy to build an IT services provider of scale in the commercial and government markets via our differentiated resource deployment model. Our customers including Fortune 1000 corporations and federal defense and civilian government agencies look to us to be more consultative than ever before. To proactively anticipate their needs and employ advanced workforce management and cutting-edge IT solutions to accomplish each of their business objectives through continued organic growth combined with select strategic tuck-in acquisitions. We successfully respond to our clients with crucial and complex challenges.

ASGN's ability to quickly but effectively act on our customers' evolving needs as evidenced by our solid financial performance. We are very pleased with our fourth quarter and full year 2019 results. All numbers reported for the quarter were in line with or exceeded our guidance, with revenues for both Q4 and for the full year 2019 improving double-digits year-over-year. Margins also remained solid with EBITDA margins of 11.3% and 11.4%