Booz Allen Hamilton Holding Corp (NYSE:BAH) reported first-quarter revenue growth of 18% year-on-year to $2.65 billion, beating the consensus of $2.51 billion. Revenue, excluding billable expenses, grew 16.9%.
Adjusted EPS of $1.47 topped the consensus of $1.25. Adjusted EBITDA margin expanded by 40 bps to 11.6%.
Booz Allen Hamilton’s free cash flow was $(82) million. The backlog increased by 9.3% Y/Y to $31.3 billion.
Dividend: The company declared a regular quarterly dividend of $0.47 per share. It held $209.64 million in cash and equivalents.
FY24 Outlook: Booz Allen Hamilton reiterated FY24 Outlook. It sees sales growth to 7% – 11% or ($9.907 billion – $10.277 billion) vs $10.12 billion consensus. It expects an adjusted EPS of $4.80–$4.95 vs. the consensus of $4.95.
Price Action: BAH shares traded higher by 6.19% at $121.01 on the last check Friday.
