Booz Allen Hamilton Holding Corp. (BAH), Friday announced fourth-quarter financial results, reporting earnings of $193 million or $1.52 per share, compared to $128 million or $0.98 per share, last year.
On adjusted basis, earnings totaled $203 million or $1.61 per share versus $173 million or $1.33 per share in the previous year.
Analysts, on average, estimated earnings of $1.63 per share for the quarter.
Revenue increased to $2.974 billion from $2.771 billion in the prior year.
Looking ahead, the company expects adjusted earnings of $6.20 to $6.55 per share, and revenue of $12 to $12.5 billion in the fiscal year 2026. Both these figures fall short of the analysts' estimates, which see earnings of $6.88 per share, and revenue of $12.83 billion for the same period.
Concurrently, the company announced its plan to lay off about 7 percent of its 36,000 employees in the current quarter, with most reductions expected in the civil business. This comes in response to President Donald Trump's decision to reduce government spending, Bloomberg reports.
During the earnings call, Chief Financial Officer Matt Calderone also explained that the company has witnessed a drop in run rate in its civil technology projects since April, which is estimated to impact revenue of full year 2026 by 3 percent. Additionally, the termination of the company's large technology contract with Veteran Affairs is also expected to impact the overall financial performance.
Currently, BAH is moving down $111.21, down 13.88 percent on the New York Stock Exchange.
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