BOOZ ALLEN HAMILTON ANNOUNCES
THIRD QUARTER FISCAL 2018 RESULTS
Excellent Top-Line Growth: Revenue Increase of 6.8 percent to $1.5 billion, and Revenue, Excluding Billable Expenses1 Growth of 8.3 percent
Continued Momentum in Hiring: Headcount Increase of More Than 1,700 Year-Over-Year and 522 from Prior Quarter
Strong Bottom Line Performance: EBITDA and Adjusted EBITDA Up 10 percent; Diluted Earnings per Share of $0.47 and Adjusted Diluted Earnings per Share1 of $0.48
Best Third Quarter Book-to-Bill Since IPO and Near-Record Total Backlog
Approximately $300 Million in Capital Deployed Through Quarter End
Quarterly Dividend Increased to $0.19 per Share
McLean, Virginia; February 5, 2018 - Booz Allen Hamilton Holding Corporation (NYSE:BAH), the parent company of management and technology consulting and engineering services firm Booz Allen Hamilton Inc., today announced preliminary results for the third quarter of fiscal 2018.
Strong third quarter results, including revenue and earnings growth, headcount gains, and large backlog, demonstrate the fundamental strength of Booz Allen’s business and continued progress against its Vision 2020 growth strategy. By building its advanced capabilities and integrating them with consulting expertise, the Company has produced industry-leading organic revenue growth. It is increasingly positioned to provide the mission-focused technology solutions that clients are seeking.
“With three quarters of fiscal year 2018 behind us, Booz Allen is poised for another successful year, operationally and strategically,” said Horacio Rozanski, President and Chief Executive Officer. “We are on strategy and on track to deliver near- and long-term value to shareholders through top- and bottom-line growth, strong cash generation, and significant capital deployment.”
The Company reported a reduction in its income tax provision of approximately $11 million in the third quarter as a result of the Tax Cut and Jobs Act. For the full fiscal year 2018, the Company expects its effective tax rate to be between 33 and 34 percent, and, beginning in fiscal year 2019, expects this rate to decrease further. In addition, the Company expects significant tax savings in coming years, the majority of which the Company anticipates will benefit the bottom line. The Company plans to provide more specificity regarding its future tax savings on its fourth quarter earnings call. The Company does not expect its capital deployment plans to change as a result of the tax law.
Headcount increased by 522 during the quarter and year-over-year by more than 1,700. Total backlog increased by 23.2 percent to nearly $16.7 billion, a near record, and the Company
The following information was filed by Booz Allen Hamilton Holding Corp (BAH) on Monday, February 5, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.