Booz Allen demonstrated strong growth and financial performance, with record backlog and revenue. While facing challenges in the civil sector and audit adjustments, the company raised its guidance and showed resilience across business segments.

Company Guidance

During Booz Allen Hamilton's Q2 2025 earnings call, the company raised its guidance across all metrics, highlighting an expectation to exceed the top end of its multiyear investment thesis. Revenue growth is now anticipated to be 11% to 13%, with adjusted EBITDA projected between $1.3 billion and $1.33 billion, translating to an adjusted EBITDA margin of about 11%. Operating cash flow is expected to range from $925 million to $1.025 billion, while free cash flow is forecasted between $825 million and $925 million. Adjusted diluted earnings per share (ADEPS) guidance has been increased to a range of $6.10 to $6.30, driven by strong organic growth, strategic capital deployment, and operational excellence. The company's robust backlog of $41 billion and a trailing 12-month book-to-bill ratio of 1.5x underscore the significant demand and momentum Booz Allen Hamilton is experiencing in its markets.

Record Backlog and Bookings

Booz Allen reported a record backlog of $41 billion, with $8.2 billion in net bookings for the quarter. The trailing 12-month book-to-bill ratio was 1.5x, the highest in six years.

Strong Revenue and Profit Growth

The company achieved 18% year-over-year revenue growth to $3.1 billion, with adjusted EBITDA increasing approximately 25% to $364 million. Adjusted EBITDA margin increased by 70 basis points to 11.6%.

Civil and Defense Business Expansion

Civil revenues rose approximately 12%, and defense business revenue increased 17% year-over-year. This growth is attributed to strategic defense missions and IT modernization efforts.

Guidance Raised for Fiscal Year 2025

Booz Allen raised its revenue growth guidance to 11%-13% and adjusted EBITDA guidance to $1.3 billion-$1.33 billion, expecting to exceed the top end of its investment thesis.

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Booz Allen (BAH) Earnings, Revenues Date & History

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BAH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 24, 2025	2025 (Q3)	1.52 / -	1.41	―	―	―
Oct 25, 2024	2025 (Q2)	1.48 / 1.81	1.29	40.31% (+0.52)
Jul 26, 2024	2025 (Q1)	1.52 / 1.38	1.47	-6.12% (-0.09)
May 24, 2024	2024 (Q4)	1.23 / 1.33	1.01	31.68% (+0.32)
Jan 26, 2024	2024 (Q3)	1.14 / 1.41	1.07	31.78% (+0.34)
Oct 27, 2023	2024 (Q2)	1.32 / 1.29	1.34	-3.73% (-0.05)
Jul 28, 2023	2024 (Q1)	1.25 / 1.47	1.13	30.09% (+0.34)
May 26, 2023	2023 (Q4)	0.95 / 1.01	0.86	17.44% (+0.15)
Jan 27, 2023	2023 (Q3)	1.05 / 1.07	1.02	4.90% (+0.05)
Oct 28, 2022	2023 (Q2)	1.13 / 1.34	1.26	6.35% (+0.08)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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BAH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 25, 2024	$166.00	$181.33	+9.23%
Jul 26, 2024	$152.54	$138.89	-8.95%
May 24, 2024	$150.82	$156.91	+4.04%
Jan 26, 2024	$127.13	$144.39	+13.58%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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