PART I. Financial Information [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the quarter ended June 30, 2024, covering balance sheets, income, cash flows, and detailed accounting notes [Condensed Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section provides a snapshot of the company's financial position and performance, highlighting key metrics like total assets, revenue, net income, and operating cash flow Condensed Consolidated Statements of Operations Highlights (Three Months Ended June 30, in thousands) | Financial Metric | 2024 | 2023 | Change | | :--- | :--- | :--- | :--- | | Revenue | $2,941,797 | $2,654,486 | +10.8% | | Operating Income | $255,164 | $234,418 | +8.9% | | Net Income | $165,233 | $161,388 | +2.4% | | Diluted EPS | $1.27 | $1.22 | +4.1% | Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2024 | March 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $297,664 | $554,257 | | Total Assets | $6,640,787 | $6,563,688 | | Long-term debt, net | $3,330,351 | $3,349,941 | | Total Liabilities | $5,556,846 | $5,517,126 | | Total Stockholders' Equity | $1,083,941 | $1,046,562 | Condensed Consolidated Statements of Cash Flows Highlights (Three Months Ended June 30, in thousands) | Cash Flow Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $52,128 | $(71,532) | | Net cash used in investing activities | $(127,327) | $(15,054) | | Net cash used in financing activities | $(181,394) | $(108,636) | | Net decrease in cash and cash equivalents | $(256,593) | $(195,222) | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed explanations of the company's accounting policies and financial results, covering business overview, revenue recognition, acquisitions, debt, and compensation - The company provides diverse consulting and technology services to governments and corporations, employing approximately **35,100** individuals as of June 30, 2024[24](index=24&type=chunk) - The acquisition of PAR Government Systems Corporation on June 7, 2024, for approximately **$94.8 million**, resulted in **$50.3 million** in goodwill and **$33.7 million** in recognized intangible assets[48](index=48&type=chunk) - The effective income tax rate increased to **22.9%** for the three months ended June 30, 2024, from **19.7%** in the prior year, primarily due to permanent tax items and share-based compensation benefits[67](index=67&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance for the first quarter of fiscal 2025, highlighting revenue growth, operational trends, contract backlog, liquidity, and non-GAAP measures [Financial and Other Highlights](index=25&type=section&id=Financial%20and%20Other%20Highlights) The company achieved strong growth in Q1 FY2025, with revenue increasing by 10.8% and operating income rising by 8.9%, despite a slight decrease in operating margin Q1 FY2025 Key Financial Metrics (Three Months Ended June 30, in millions) | Metric | 2024 | 2023 | Change | | :--- | :--- | :--- | :--- | | Revenue | $2,941.8 M | $2,654.5 M | +10.8% | | Operating Income | $255.2 M | $234.4 M | +8.9% | | Operating Margin | 8.7% | 8.8% | -0.1 ppt | [Non-GAAP Measures](index=26&type=section&id=Non-GAAP%20Measures) The company uses non-GAAP measures like Adjusted Operating Income, Adjusted EBITDA, and Adjusted Diluted EPS to provide insight into core operating performance by excluding non-operational items Reconciliation of GAAP to Non-GAAP Measures (Three Months Ended June 30, in thousands, except per share) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Net Income (GAAP) | $165,233 | $161,388 | | Adjusted Net Income (Non-GAAP) | $179,611 | $193,057 | | Diluted EPS (GAAP) | $1.27 | $1.22 | | Adjusted Diluted EPS (Non-GAAP) | $1.38 | $1.47 | | Adjusted EBITDA (Non-GAAP) | $301,963 | $306,986 | | Adjusted EBITDA Margin on Revenue | 10.3% | 11.6% | [Contract Backlog](index=32&type=section&id=Contract%20Backlog) Total contract backlog increased by 15.7% to $36.2 billion as of June 30, 2024, reflecting strong demand and new contract awards across all components Contract Backlog Comparison (in millions) | Backlog Component | June 30, 2024 | June 30, 2023 | Change | | :--- | :--- | :--- | :--- | | Funded | $5,136 | $4,903 | +4.8% | | Unfunded | $10,119 | $9,045 | +11.9% | | Priced Options | $20,923 | $17,329 | +20.7% | | **Total Backlog** | **$36,178** | **$31,277** | **+15.7%** | - Remaining performance obligations increased to **$9.6 billion** as of June 30, 2024, from **$8.7 billion** as of March 31, 2024, reflecting unperformed work on exercised contracts[117](index=117&type=chunk) [Results of Operations](index=34&type=section&id=Results%20of%20Operations) Revenue grew 10.8% driven by increased headcount and demand, while various expenses, including billable expenses and interest, also increased during the quarter - Revenue increased by **10.8%** due to strong demand for services and solutions, alongside an approximate **2,500** year-over-year increase in total headcount[125](index=125&type=chunk) - Billable expenses rose by **16.3%**, reaching **32.1%** of revenue, primarily driven by increased subcontractor utilization to meet client demand[127](index=127&type=chunk) - Interest expense increased by **29.5%** to **$45.9 million**, largely attributable to additional bond interest from the **$650.0 million** Senior Notes issued in fiscal 2024[128](index=128&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2024, the company maintained strong liquidity, with net cash from operations of $52.1 million, and continued to return value to shareholders through dividends and share repurchases Cash Flow Summary (Three Months Ended June 30, in thousands) | Cash Flow Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $52,128 | $(71,532) | | Net cash used in investing activities | $(127,327) | $(15,054) | | Net cash used in financing activities | $(181,394) | $(108,636) | - The company paid a quarterly cash dividend of **$0.51 per share**, totaling **$66.4 million**, during the first quarter of fiscal 2025[136](index=136&type=chunk) - The company repurchased **0.5 million** shares for **$78.3 million** in Q1 FY2025, with approximately **$929.9 million** remaining under the share repurchase program as of June 30, 2024[136](index=136&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=43&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports that there have been no material changes to the information regarding market risk disclosed in its Annual Report on Form 10-K for the fiscal year ended March 31, 2024 - No material changes occurred in the company's market risk disclosures during the quarter ended June 30, 2024[152](index=152&type=chunk) [Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, 2024, with no material changes in internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period[153](index=153&type=chunk) - No material changes in internal control over financial reporting occurred during the last fiscal quarter[154](index=154&type=chunk) PART II. Other Information [Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) This section details the status of legal proceedings, including routine government audits and the voluntary dismissal of two shareholder lawsuits in April and May 2024 - The company is subject to continuous audit, review, and investigation by the U.S. government in the ordinary course of business[156](index=156&type=chunk) - The plaintiffs' appeal in the **Langley v. Booz Allen Hamilton** case was voluntarily dismissed with prejudice on April 23, 2024[156](index=156&type=chunk) - The **Thum v. Rozanski et al.** shareholder derivative case was voluntarily dismissed without prejudice by court order on May 20, 2024[156](index=156&type=chunk) [Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) The company states that there have been no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K for the fiscal year ended March 31, 2024 - No material changes occurred to the risk factors disclosed in the company's most recent Annual Report on Form 10-K[157](index=157&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's repurchases of its equity securities, including the 522,617 shares repurchased during the quarter ended June 30, 2024, and the recent increase in the share repurchase program Issuer Purchases of Equity Securities (Quarter Ended June 30, 2024) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2024 | 170,742 | $146.11 | | May 2024 | 165,502 | $151.03 | | June 2024 | 186,373 | $151.91 | | **Total** | **522,617** | **N/A** | - The Board of Directors increased the share repurchase program by **$525.0 million** to a total of **$3,085.0 million** on May 22, 2024[160](index=160&type=chunk) [Other Information](index=45&type=section&id=Item%205.%20Other%20Information) This section discloses the adoption of Rule 10b5-1 trading arrangements by company officers, specifically CFO Matthew A. Calderone and CLO Nancy J. Laben, during the quarter - CFO Matthew A. Calderone adopted a new Rule 10b5-1 trading arrangement for up to **7,930 shares** of common stock on June 5, 2024, terminating on June 6, 2025[162](index=162&type=chunk) - CLO Nancy J. Laben adopted a new Rule 10b5-1 trading arrangement for up to **11,984 shares** of common stock on May 30, 2024, terminating on May 30, 2025[162](index=162&type=chunk) [Exhibits](index=46&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including CEO and CFO certifications and Inline XBRL data files - Exhibits include CEO and CFO certifications as required by the Sarbanes-Oxley Act (Sections 302 and 906)[164](index=164&type=chunk) - The report incorporates financial statements and notes formatted in Inline XBRL as Exhibit 101[164](index=164&type=chunk)

Booz | Allen | Hamilton® BOOZ ALLEN HAMILTON ANNOUNCES FIRST QUARTER FISCAL 2025 RESULTS (Changes are compared to prior year period) REVENUE: $2.94B +10.8 % REVENUE EX. BILLABLE EXPENSES: $2.00B +8.4 % OPERATING INCOME: $255.2M +8.9 % ADJ. OPERATING INCOME: $273.5M (1.7)% NET INCOME: $165.2M +2.4 % ADJUSTED NET INCOME: $179.6M (7.0)% EBITDA: $296.3M +7.2 % ADJUSTED EBITDA: $302.0M (1.6)% + Company Starts Fiscal Year with Strong Top Line Performance, Delivering Double-Digit Revenue Growth and Double-Digit Or ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Booz Allen Hamilton (BAH) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on July 26, 2024, might help the stock move higher if these key numbers are better than ...

Booz Allen Hamilton (BAH) closed the latest trading day at $158.19, indicating a +0.62% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.64%. Elsewhere, the Dow saw an upswing of 1.85%, while the tech-heavy Nasdaq appreciated by 0.2%.Prior to today's trading, shares of the defense contractor had gained 2.83% over the past month. This has outpaced the Business Services sector's gain of 2.71% and lagged the S&P 500's gain of 3.82% in that time.The inves ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Booz Allen Hamilton (BAH) , which belongs to the Zacks Government Services industry, could be a great candidate to consider.This defense contractor has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 16.90%.For the last reported ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.Zacks Premium includes access to the Zacks Style Scores as well.What are the Zacks Style Scor ...

Group 1 - Booz Allen Hamilton (BAH) closed at $155.65, with a daily increase of +0.82%, underperforming the S&P 500's gain of 1.02% [1] - Over the past month, BAH shares increased by 2.45%, outperforming the Business Services sector's gain of 0.23% but lagging behind the S&P 500's gain of 4.44% [1] - Analysts expect BAH to report earnings of $1.53 per share on July 26, 2024, reflecting a year-over-year growth of 4.08%, with quarterly revenue projected at $2.92 billion, up 10.09% from the previous year [1] Group 2 - For the annual period, Zacks Consensus Estimates predict earnings of $6.05 per share and revenue of $11.7 billion, indicating increases of +10% and +9.75% respectively from the last year [2] - Recent changes in analyst estimates for BAH suggest confidence in the company's business performance and profit potential, with positive revisions linked to stock price performance [2] Group 3 - BAH currently holds a Zacks Rank of 2 (Buy), with an unchanged Zacks Consensus EPS estimate over the last 30 days [3] - The Forward P/E ratio for BAH is 25.54, indicating a premium compared to its industry's Forward P/E of 19.1, while the PEG ratio stands at 1.83, matching the industry average [3] - The Government Services industry, part of the Business Services sector, ranks in the top 6% of all industries according to the Zacks Industry Rank [3]

Core Viewpoint - Booz Allen Hamilton Holding Corporation (BAH) has shown exceptional performance over the past year and is expected to maintain this momentum in the near term, making it a compelling addition to investment portfolios [1] Performance Metrics - BAH's stock has returned 44% over the past year, outperforming the industry average of 33% and the Zacks S&P 500 composite's 25% rise [2] - The Zacks Consensus Estimate for fiscal 2025 earnings is projected at $6.05, indicating a 10% year-over-year growth, with an expected increase of 10.8% in fiscal 2026 [3] Analyst Sentiment - Seven estimates for fiscal 2025 have been revised upward in the past 60 days, with no downward revisions, reflecting strong analyst confidence [2] - BAH has a Zacks Rank of 2 (Buy) and a VGM Score of B, suggesting it is a strong investment opportunity [2] Earnings Performance - BAH has a positive earnings surprise history, exceeding the Zacks Consensus Estimate in three of the last four quarters, with an average earnings surprise of 12.5% [3] Growth Strategy - The company's VoLT strategy emphasizes integrating velocity, leadership, and technology to drive transformation, focusing on innovation, market position enhancement through mergers and partnerships, and client-centric decision-making [4] - BAH serves a large addressable market, particularly in government and U.S. intelligence sectors, with significant opportunities in global commercial markets where it has low penetration [4]

Company Performance - Booz Allen Hamilton (BAH) closed at $157.39, with a slight increase of +0.11% from the previous session, outperforming the S&P 500's daily gain of 0.09% [1] - The stock has decreased by 0.81% over the past month, underperforming the Business Services sector's gain of 1.04% and the S&P 500's gain of 2.83% [1] - The upcoming earnings per share (EPS) is projected at $1.53, reflecting a 4.08% increase year-over-year, with anticipated revenue of $2.92 billion, indicating a 10.09% increase from the same quarter last year [1] Earnings Estimates - For the full year, earnings are projected at $6.05 per share and revenue at $11.7 billion, representing increases of +10% and +9.75% respectively from the prior year [2] - Recent adjustments to analyst estimates indicate positive sentiment towards the company's business operations and profit generation capabilities [2] - The Zacks Rank system, which reflects these estimate changes, currently ranks Booz Allen Hamilton at 2 (Buy) [3] Valuation Metrics - Booz Allen Hamilton has a Forward P/E ratio of 26.01, which is a premium compared to the industry's average Forward P/E of 21.57 [3] - The company's PEG ratio stands at 1.86, aligning with the industry average PEG ratio of 1.86 [3] Industry Context - The Government Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 3, placing it in the top 2% of over 250 industries [4] - The Zacks Industry Rank measures the strength of industry groups, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [4]

One stock that might be an intriguing choice for investors right now is Booz Allen Hamilton Holding Corporation (BAH) . This is because this security in the Government Services space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taki ...