Booz Allen Hamilton has announced preliminary results for the first quarter of fiscal 2021, the company reported on Friday.
“We remain focused on maximizing the health and safety of our people and clients while delivering high-quality work across all markets. Demand for our services and solutions remains strong, and we are proud to partner with the government as it scales advanced technologies into critical missions," said Horacio Rozanski, president and CEO of Booz Allen.
Booz Allen Hamilton reported a book-to-bill of 2.2x and client delivery remained high due to enhanced staff productivity, and effective virtual recruiting drove headcount growth. The company reported first quarter revenue growth of 7.2 percent and a 10.5 percent quarterly increase in revenue, Excluding Billable Expenses.
The company’s Net Income increased by 10.2 percent to $129.3 million and Adjusted Net Income increased by 10.3 percent to $129.9 million. Quarterly Adjusted EBITDA Margin on Revenue was 10.9 percent.
Booz Allen’s Diluted Earnings per Share was $0.92, up $0.09 or 10.8 percent, while Adjusted Diluted EPS1 was $0.93, up $0.10 or 12.0 percent. The company’s total backlog increased by 15.9 percent over the end of the prior year to $23.0 billion.
The company’s net cash provided by operating activities for the first quarter fiscal 2021 was $140.4 million as compared to $51.0 million in the prior year period. Free cash flow for the first quarter was $120.4 million compared to $23.6 million for the prior year period. Booz Allen has declared a regular quarterly dividend of 31 cents per share, which is payable on August 28, 2020, to stockholders of record on August 14, 2020.
The company also announced its financial outlook, predicting that revenue would grow from 6 to 10 percent. Adjusted EBITDA Margin on Revenue will grow approximately 10 percent and Adjusted Diluted EPS will increase between $3.40 and $3.60. The company Cash from Operating Activities is expected to range from $550 million and $600 million.
“Our firm has reported another excellent start to the fiscal year, while managing through the complexity of the COVID-19 pandemic,” added Rozanski.
About Booz Allen Hamilton
For more than 100 years, business, government, and military leaders have turned to Booz Allen Hamilton to solve their most complex problems. As a consulting firm with experts in analytics, digital, engineering and cyber, we help organizations transform. We are a key partner on some of the most innovative programs for governments worldwide and trusted by the most sensitive agencies. We work shoulder to shoulder with clients, using a mission-first approach to choose the right strategy and technology to help them realize their vision.
With global headquarters in McLean, Virginia, our firm employs about 27,400 people globally, and had revenue of $7.5 billion for the 12 months ended March 31, 2020.
