Booz Allen Hamilton Holding Corporation · NYSE:BAH
Booz Allen Hamilton — Q4 FY2021 Earnings Presentation
17 slides from Booz Allen Hamilton's earnings presentation, May 21, 2021
Slide 1: Earnings Call Presentation
EARNINGS CALL PRESENTATION Fiscal Year 2021, Fourth Quarter May 21, 2021
Slide 2: Call Participants
HORACIO ROZANSKI CALL President and Chief Executive Officer PARTICIPANTS LLOYD HOWELL, JR. Chief Financial Officer and Treasurer RUBUN DEY Director of Investor Relations 2
Slide 3: Disclaimer
DISCLAIMER Forward Looking Safe Harbor Statement Certain statements contained in this presentation and in related comments by our management include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include
Slide 4: Key Financial Results
KEY FINANCIAL RESULTS FISCAL YEAR 2021 RESULTS FOURTH QUARTER (1) FISCAL YEAR 2021 (1) Revenue $2.0 billion 0.5% Increase $7.9 billion 5.3% Increase Revenue, Excluding Billable Expenses $1.4 billion 1.5% Increase $5.5 billion 7.1% Increase Adjusted EBITDA $193 million 11.8% Increase $840 million 11.
Slide 5: Three-Year Investment Thesis Results
THREE-YEAR INVESTMENT THESIS RESULTS DELIVERING STRONG FINANCIAL RETURNS THROUGH OUR UNIQUE MARKET POSITION Our strong ADEPS performance was supported by organic revenue growth, margin expansion, and strategic capital deployment Three-Year Goal: We nearly doubled our original ADEPS growth goal of 50
Slide 6: Key Financial Results
Page 4 intentionally repeated KEY FINANCIAL RESULTS FISCAL YEAR 2021 RESULTS FOURTH QUARTER (1) FISCAL YEAR 2021 (1) Revenue $2.0 billion 0.5% Increase $7.9 billion 5.3% Increase Revenue, Excluding Billable Expenses $1.4 billion 1.5% Increase $5.5 billion 7.1% Increase Adjusted EBITDA $193 million 1
Slide 7: Historical Backlog & Book-to-Bill
HISTORICAL BACKLOG & BOOK-TO-BILL BACKLOG ($ IN BILLIONS) (1) $24.6 $24.0 $22.9 $23.0 $22.0 $23.3 $21.4 $22.0 $20.5 $19.9 $20.7 $19.3 $17.0 $13.9 $14.4 $13.2 $13.1 $14.8 $13.7 $12.4 $12.4 $12.8 $12.2 $12.3 $10.1 $5.4 $6.2 $4.8 $4.5 $5.3 $4.5 $4.7 $6.0 $6.1 $4.1 $3.7 $4.4 $2.8 $4.2 $3.5 $3.4 $3.2 $4.
Slide 8: Capital Allocation
CAPITAL ALLOCATION DELIVERING STRONG CAPITAL RETURNS THROUGH EFFICIENT CAPITAL DEPLOYMENT STRATEGY – Our multi-year capital deployment plan is to follow a disciplined and opportunistic approach, subject to market conditions – In Fiscal 2021, we deployed $571.3 million to shareholders: – $181.1M thro
Slide 9: Financial Outlook
FINANCIAL OUTLOOK FULL YEAR FY22 GUIDANCE OPERATING PERFORMANCE Revenue Growth 7.0 – 10.0% Adjusted EBITDA Margin on Revenue Mid 10% Adjusted Diluted EPS(1) $4.10 – $4.30 Net Cash Provided by Operating Activities $800 – $850 million (1) Assumes an effective tax rate of 22–24%; an average diluted sha
Slide 10: FY22 ADEPS Walk
FY22 ADEPS WALK ADEPS BRIDGE FROM FY21 TO FY22 FY21 ADEPS $3.90 4 – 7% Organic Revenue Growth ~$0.17 – 0.32 Mid 10% Adjusted EBITDA Margin ~$(0.04) FY22 Operational ADEPS(1) $4.03 – 4.18 Incremental D&A Related to NextGen Financial System ~$(0.06) Higher Effective Tax Rate (Midpoint of FY22 estimate
Slide 11: FY22 Income Tax Drivers
FY22 INCOME TAX DRIVERS NOTES: (1) As the Company's federal/state statutory EFFECTIVE TAX RATE BRIDGE FROM FY21 TO FY22 tax rate is higher than its effective tax rate, a higher marginal tax rate is applied to incremental forecasted pretax income, which increases the overall effective tax rate year o
Slide 12: Appendix
APPENDIX 12
Slide 13: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION • "Revenue, Excluding Billable Expenses" represents revenue less billable expenses. We use Revenue, Excluding Billable Expenses because it provides management useful information about the Company's operating performance by excluding the impact of costs that are not ind
Slide 14: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION Three Months Ended Fiscal Year Ended March 31, March 31, (a) Fiscal 2020 debt refinancing costs incurred in (In thousands, except share and per share data) 2021 2020 2021 2020 connection with the refinancing transactions (Unaudited) (Unaudited) consummated on November
Slide 15: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION (a) Reflects the combination of Interest expense and Other income Unaudited Non-GAAP Financial Information (expense), net from the consolidated statement of operations. $ in thousands, except for shares and per share data FY2018 FY2019 FY2020 FY2021 (b) Fiscal 2019 ref
Slide 16: Financial Results – Key Drivers
FINANCIAL RESULTS – KEY DRIVERS Fourth Quarter Fiscal 2021 – Below is a summary of the key factors driving results for the fiscal 2021 fourth quarter ended March 31, 2021 as compared to the prior year: • Revenue increased by 0.5% to $2.0 billion and Revenue, Excluding Billable Expenses increased 1.5
Slide 17: Financial Results – Key Drivers
FINANCIAL RESULTS – KEY DRIVERS Fiscal Year Ended March 31, 2021 – Below is a summary of the key factors driving results for the fiscal year ended March 31, 2021 as compared to the prior year: • Revenue increased by 5.3% to $7.9 billion and Revenue, Excluding Billable Expenses increased 7.1% to $5.5
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