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Booz Allen Hamilton Announces Fourth Quarter and Full Year Fiscal 2020 Results

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Booz Allen Hamilton
Booz Allen Hamilton

Booz Allen Hamilton Holding Corporation has announced preliminary results for the fourth quarter and full year of fiscal year 2020, the company reported on Tuesday.

The company has delivered record top and bottom line performance in fiscal 2020, announced guidance for fiscal 2021 revenue growth of 6 percent to 10 percent and Adjusted Diluted EPS between $3.40 and $3.60. 

Booz Allen also updated goals of its three year investment thesis, including Adjusted Diluted EPS of 70 percent to 80 percent. Financial performance included continued substantial revenue growth and strong margins and bottom line performance driven by demand for services and solutions and a 4.2 percent annual increase in headcount. 

The company reported annual revenue growth of 11.3 percent and an 9.9 percent annual increase in revenue, excluding billable expenses. Booz Allen’s full year net income increased by 15.3 percent to $482.6 million and Adjusted Net Income increased by 13.6 percent to $448.7 million. 

Booz Allen reported strong top-line growth contributed to an 11.8 percent annual increase in Adjusted EBITDA to $754.1 million. The company noted annual adjusted EBITDA margin on Revenue was 10.1 percent. Full year diluted earnings per share was $3.41, up $0.50 or 17.2 percent while adjusted diluted EPS was $3.18, up $0.42 or 15.2 percent. 

Total backlog increased by 7.3 percent over the end of the prior year to $20.7 billion and the quarterly book-to-bill ratio was 0.38x. As of March 31, 2020, headcount was 1,104 higher than at the end of the prior year period, an increase of 4.2 percent, and remained flat since the end of the prior quarter.

The net cash provided by operating activities for fiscal 2020 was $551.4 million as compared to $499.6 million in the prior year, and $185.0 million for the fourth quarter, compared to $216.4 million in the prior year period. 

The company’s free cash flow1 for fiscal 2020 was $423.3 million compared to $404.9 million for the prior year and $147.6 million for the fourth quarter compared with $179.8 million in the prior year period. Booz Allen declared a regular quarterly dividend of 31 cents per share.

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 27,200 people globally, and had revenue of $7.5 billion for the 12 months ended March 31, 2020.