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- Booz Allen Hamilton Holding Corp BAH reported second-quarter FY23 sales growth of 9.2% year-on-year to $2.29 billion, beating the consensus of $2.26 billion.
- Revenue, excluding billable expenses, grew 10.1%.
- Adjusted EPS of $1.34 topped the consensus of $1.14.
- Booz Allen Hamilton's free cash flow was $256.7 million.
- Adjusted EBITDA margin contracted by 40 bps to 12.4%.
- The backlog increased by 9.8% Y/Y to $31.8 billion, and the book-to-bill ratio was 2.40x.
- Dividend: The company declared a regular quarterly dividend of $0.43 per share.
- The company held $756.5 million in cash and equivalents.
- "As we accelerate into our VoLT strategy, we continue to build strategic momentum across the business backed by strong operational resilience, positioning Booz Allen to again deliver industry-leading growth while navigating a dynamic external environment," CEO Horacio Rozanski said.
- FY23 Outlook: Booz Allen Hamilton boosted sales growth to 8% - 10%, up from 5%- 9%. It expects an adjusted EPS of $4.25 - $4.50, up from $4.15 - $4.45 vs. the consensus of $4.37.
- Price Action: BAH shares traded higher by 5.37% at $109.18 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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