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Booz Allen Hamilton (BAH) Q4 Earnings Beat, Stock Up 2.8%
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Booz Allen Hamilton Holding Corp. (BAH - Free Report) reported impressive fourth-quarter fiscal 2022 results wherein both earnings and revenues beat the Zacks Consensus Estimate.
Such better-than-expected results impressed the market watchers as the stock has inched up 2.8% since the earnings release on May 20.
Quarterly adjusted earnings per share (excluding 18 cents from non-recurring items) of 86 cents per share beat the consensus mark by 3.6% but declined 3.4% on a year-over-year basis.
Booz Allen Hamilton Holding Corporation Price, Consensus and EPS Surprise
Total revenues of $2.24 billion beat the Zacks Consensus Estimate by 1% and increased 13.1% on a year-over-year basis. Revenues, excluding billable expenses, were $1.58 billion, up 14.5% year over year. Billable expenses contributed 41.5% to revenues.
Total backlog increased 21.7% from the prior-year quarter’s reported figure to $29.2 billion. Funded backlog of $3.7 billion increased 5.7% year over year. Unfunded backlog was up 62.7% to $9.9 billion. Priced options were up 8.3% to $15.6 billion. Book-to-bill ratio was 1.66, up 20.3% year over year. Headcount of 29,317 increased 5.7% year over year.
Margin Performance
Adjusted EBITDA amounted to $205 million, up 6.3% year over year. Adjusted EBITDA margin on revenues was 9.2%, down from the year-ago quarter’s 9.7%. Adjusted EBITDA margin on revenues, excluding billable expenses, fell to 13% from 13.9% in the year-ago quarter.
Key Balance Sheet & Cash Flow Numbers
Booz Allen exited the quarter with cash and cash equivalents of $695.9 million compared with $642.7 million at the end of the prior quarter. Long-term debt (net of current portion) was $2.73 billion compared with $2.75 billion in the prior quarter.
BAH generated $255.4 million of net cash from operating activities while capital expenditures were $28.4 million. Booz Allen paid out dividends worth $57.4 million and repurchased shares worth $103.7 million in the reported quarter.
Fiscal 2023 Outlook
Booz Allen currently projects revenue growth of 5-9%.
BAH now expects adjusted EPS in the range of $4.15-$4.45 per share. The Zacks Consensus Estimate is now anticipated to be $4.51.
Adjusted EBITDA is expected to be $950–$1,000 million.
Adjusted EBITDA margin on revenues is anticipated in the range of mid-to-high 10%.
Net cash provided by operating activities is expected in the range of $850-$950 million.
ManpowerGroup reported impressive first-quarter 2022 results, with both earnings and revenues beating the Zacks Consensus Estimate. Quarterly adjusted earnings of $1.88 per share beat the consensus mark by 20.5% and improved 69.4% year over year. Revenues of $5.14 billion surpassed the consensus mark by 0.7% and inched up 4.5% year over year on a reported basis and 9.8% on a constant-currency (cc) basis.
Omnicom reported impressive first-quarter 2022 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Earnings of $1.39 per share beat the consensus mark by 8.6% and increased 4.5% year over year, driven by a strong margin performance. Total revenues of $3.4 billion surpassed the consensus estimate by 5.4% but declined slightly year over year.
Equifax reported better-than-expected first-quarter 2022 results. Adjusted earnings of $2.22 per share beat the Zacks Consensus Estimate by 3.3% and improved 13% on a year-over-year basis. Revenues of $1.36 billion outpaced the consensus estimate by 2.4% and improved 12.4% year over year on a reported basis and 13% on a local-currency basis.
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Booz Allen Hamilton (BAH) Q4 Earnings Beat, Stock Up 2.8%
Booz Allen Hamilton Holding Corp. (BAH - Free Report) reported impressive fourth-quarter fiscal 2022 results wherein both earnings and revenues beat the Zacks Consensus Estimate.
Such better-than-expected results impressed the market watchers as the stock has inched up 2.8% since the earnings release on May 20.
Quarterly adjusted earnings per share (excluding 18 cents from non-recurring items) of 86 cents per share beat the consensus mark by 3.6% but declined 3.4% on a year-over-year basis.
Booz Allen Hamilton Holding Corporation Price, Consensus and EPS Surprise
Booz Allen Hamilton Holding Corporation price-consensus-eps-surprise-chart | Booz Allen Hamilton Holding Corporation Quote
Revenues, Backlog & Headcount
Total revenues of $2.24 billion beat the Zacks Consensus Estimate by 1% and increased 13.1% on a year-over-year basis. Revenues, excluding billable expenses, were $1.58 billion, up 14.5% year over year. Billable expenses contributed 41.5% to revenues.
Total backlog increased 21.7% from the prior-year quarter’s reported figure to $29.2 billion. Funded backlog of $3.7 billion increased 5.7% year over year. Unfunded backlog was up 62.7% to $9.9 billion. Priced options were up 8.3% to $15.6 billion. Book-to-bill ratio was 1.66, up 20.3% year over year. Headcount of 29,317 increased 5.7% year over year.
Margin Performance
Adjusted EBITDA amounted to $205 million, up 6.3% year over year. Adjusted EBITDA margin on revenues was 9.2%, down from the year-ago quarter’s 9.7%. Adjusted EBITDA margin on revenues, excluding billable expenses, fell to 13% from 13.9% in the year-ago quarter.
Key Balance Sheet & Cash Flow Numbers
Booz Allen exited the quarter with cash and cash equivalents of $695.9 million compared with $642.7 million at the end of the prior quarter. Long-term debt (net of current portion) was $2.73 billion compared with $2.75 billion in the prior quarter.
BAH generated $255.4 million of net cash from operating activities while capital expenditures were $28.4 million. Booz Allen paid out dividends worth $57.4 million and repurchased shares worth $103.7 million in the reported quarter.
Fiscal 2023 Outlook
Booz Allen currently projects revenue growth of 5-9%.
BAH now expects adjusted EPS in the range of $4.15-$4.45 per share. The Zacks Consensus Estimate is now anticipated to be $4.51.
Adjusted EBITDA is expected to be $950–$1,000 million.
Adjusted EBITDA margin on revenues is anticipated in the range of mid-to-high 10%.
Net cash provided by operating activities is expected in the range of $850-$950 million.
Booz Allen currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Snapshots
Within the broader Business Services sector, ManpowerGroup Inc. (MAN - Free Report) , Omnicom Group Inc. (OMC - Free Report) and Equifax Inc. (EFX - Free Report) recently reported first-quarter 2022 results.
ManpowerGroup reported impressive first-quarter 2022 results, with both earnings and revenues beating the Zacks Consensus Estimate. Quarterly adjusted earnings of $1.88 per share beat the consensus mark by 20.5% and improved 69.4% year over year. Revenues of $5.14 billion surpassed the consensus mark by 0.7% and inched up 4.5% year over year on a reported basis and 9.8% on a constant-currency (cc) basis.
Omnicom reported impressive first-quarter 2022 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Earnings of $1.39 per share beat the consensus mark by 8.6% and increased 4.5% year over year, driven by a strong margin performance. Total revenues of $3.4 billion surpassed the consensus estimate by 5.4% but declined slightly year over year.
Equifax reported better-than-expected first-quarter 2022 results. Adjusted earnings of $2.22 per share beat the Zacks Consensus Estimate by 3.3% and improved 13% on a year-over-year basis. Revenues of $1.36 billion outpaced the consensus estimate by 2.4% and improved 12.4% year over year on a reported basis and 13% on a local-currency basis.