Booz Allen Hamilton Holding Corp BAH reported second-quarter revenue growth of 16% year-on-year to $2.67 billion, beating the consensus of $2.61 billion. Revenue, excluding billable expenses, grew 14.1%.
In Q2, the company delivered excellent top and bottom-line performance, including double-digit organic revenue growth in federal defense and civil markets, strong adjusted EBITDA growth, and double-digit quarterly headcount growth.
Adjusted EPS of $1.29 missed the consensus of $1.33.
Adjusted EBITDA margin declined by 190 bps to 15.8%.
Booz Allen Hamilton's free cash flow was $(64.3) million. The backlog increased by 10.1% Y/Y to $35 billion.
Dividend: The company declared a regular quarterly dividend of $0.47 per share. It held $557.3 million in cash and equivalents.
"Our VoLT strategy continues to fuel extraordinary organic revenue growth in an uncertain budgetary environment." — CEO HORACIO ROZANSKI.
FY24 Outlook: Booz Allen Hamilton revised its FY24 outlook. It sees sales growth of 11.0% – 14.0% (prior 7% - 11%) vs $10.35 billion consensus. It expects an adjusted EPS of $4.95 – $5.10 (prior $4.80–$4.95) vs. the consensus of $5.04.
Price Action: BAH shares traded higher by 0.12% at $121.50 premarket on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.