AcquisitionsApr 30, 2026, 05:12 PM
ASGN Rebrands to Everforth; Acquires Quinnox for $290M; Q1 Net Income $5.5M
AI Summary
Everforth, Inc., formerly ASGN Incorporated, announced the acquisition of Quinnox Inc. for $290.0 million in cash during March 2026, enhancing its Commercial Segment offerings. For the first quarter of 2026, the company reported flat revenues of $968.3 million, but net income significantly declined by 73.7% to $5.5 million, resulting in diluted EPS of $0.13. The decline in profitability was primarily due to higher SG&A expenses, increased interest expense from higher borrowings, and a higher effective tax rate.
Key Highlights
- Company rebranded from ASGN Incorporated to Everforth, Inc. on April 24, 2026.
- Acquired Quinnox Inc., a digital solutions provider, for $290.0 million in cash in March 2026.
- Q1 2026 net income decreased 73.7% to $5.5 million from $20.9 million in Q1 2025.
- Q1 2026 diluted EPS decreased 72.9% to $0.13 from $0.48 in Q1 2025.
- Q1 2026 revenues remained flat at $968.3 million compared to Q1 2025.
- Commercial Segment revenues increased 0.5% to $675.5 million in Q1 2026.
- Federal Government Segment revenues decreased 1.1% to $292.8 million in Q1 2026.
- Net cash provided by operating activities increased to $18.5 million from $16.8 million.
Price Impact
More from ASGN