Booz Allen Hamilton Shares Pop On Q2 Beat, Outlook Boost

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.

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