Why did ASGN's Q4 2024 earnings fall short of forecasts?

ASGN's Q4 2024 earnings fell short of forecasts due to several factors:

1. **Revenue Decline**: The commercial segment experienced a decline of approximately -7.68% in revenue growth as of 30 September 2024. This reduction in revenue was likely a contributing factor to the overall earnings shortfall.
2. **Federal Government Segment Challenges**: The Federal Government Segment faced challenges, with revenue decreasing by 6.6% year-over-year and 7.7% overall. These declines, coupled with legal settlement accruals and increased SG&A expenses, contributed to the earnings shortfall.
3. **Strategic Planning and Acquisition Costs**: The company incurred significant SG&A expenses, including $1.1 million in acquisition and strategic planning expenses. These costs, when combined with lower revenue, impacted the bottom line.
4. **Economic Uncertainty**: Global economic uncertainty has impacted client IT services spending, with no meaningful increase observed yet. This broader economic environment likely played a role in the company's revenue decline and earnings shortfall.

In summary, ASGN's Q4 2024 earnings fell short of forecasts due to a combination of revenue declines in both the commercial and federal government segments, strategic planning and acquisition costs, and economic uncertainty.