Booz Allen Hamilton Holding Corporation · NYSE:BAH
Booz Allen Hamilton — Q2 2024 Earnings Presentation
16 slides from Booz Allen Hamilton's earnings presentation, Oct 27, 2023
Slide 1: Earnings Call Presentation
EARNINGS CALL PRESENTATION Fiscal Year 2024, Second Quarter October 27, 2023
Slide 2: Call Participants
HORACIO ROZANSKI CALL President and Chief Executive Officer PARTICIPANTS MATT CALDERONE Chief Financial Officer NATHAN RUTLEDGE Director & Head 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 SECOND QUARTER FISCAL YEAR 2024 RESULTS SECOND QUARTER (1) FIRST HALF (1) Revenue $2.7 billion +16.0% $5.3 billion +17.0% Revenue, Excluding Billable Expenses $1.8 billion +14.1% $3.7 billion +15.5% Net Income $171 million —% $332 million +7.5% Adjusted EBITDA2 $291 million +1.
Slide 5: Investment Thesis
INVESTMENT THESIS ADJUSTED EBITDA siscintne GROWTH TO $1.2—1.3B banal Deployment Organic Strategic Strong Mid 10% $35— 4 5B Revenue @ Acquisitions& @ Adjus sted EBITDA 5-8% Investments Margin
Slide 6: Key Financial Results
Page 4 intentionally repeated KEY FINANCIAL RESULTS SECOND QUARTER FISCAL YEAR 2024 RESULTS SECOND QUARTER (1) FIRST HALF (1) Revenue $2.7 billion +16.0% $5.3 billion +17.0% Revenue, Excluding Billable Expenses $1.8 billion +14.1% $3.7 billion +15.5% Net Income $171 million —% $332 million +7.5% Adj
Slide 7: Historical Backlog & Book-to-Bill
HISTORICAL BACKLOG & BOOK-TO-BILL BACKLOG ($ IN BILLIONS) (1) $35.0 $31.8 $31.2 $31.3 $29.0 $29.2 $28.6 $30.0 $22.0 $26.8 $27.8 $23.3 $24.0 $18.6 $16.0 $17.1 $17.3 $14.6 $15.6 $14.6 $15.4 $14.3 $14.3 $13.7 $14.4 $10.4 $10.1 $9.5 $9.4 $9.9 $10.0 $10.1 $9.5 $9.0 $6.0 $6.1 $9.0 $3.6 $3.5 $3.5 $4.9 $4.0
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 Q2 FY 2024, we deployed approximately $147.9 million: – $62.1 million t
Slide 9: Financial Outlook
FINANCIAL OUTLOOK FULL YEAR FISCAL 2024 GUIDANCE(1) OPERATING PERFORMANCE Updated Fiscal Year 2024 Original Fiscal Year 2024 Guidance Guidance Revenue Growth 11.0% – 14.0% 7.0% – 11.0% Adjusted EBITDA $1,115 – $1,145 million $1,075 – $1,105 million Adjusted EBITDA Margin on Revenue High 10% to 11% H
Slide 10: Appendix
APPENDIX 10
Slide 11: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION • “Revenue, Excluding Billable Expenses” represents revenue less billable expenses. Booz Allen uses Revenue, Excluding Billable Expenses because it provides management useful information about the Company’s operating performance by excluding the impact of costs that ar
Slide 12: Non-GAAP Financial Information (Unaudited)
NON-GAAP FINANCIAL INFORMATION (Unaudited) Three Months Ended Six Months Ended September 30, September 30, (In thousands, except share and per share data) 2023 2022 2023 2022 Revenue, Excluding Billable Expenses Revenue $ 2,666,282 $ 2,298,976 $ 5,320,768 $ 4,548,576 Less: Billable expenses 824,788
Slide 13: Non-GAAP Financial Information (Unaudited)
NON-GAAP FINANCIAL INFORMATION (Unaudited) Three Months Ended Six Months Ended September 30, September 30, Adjusted Net Income Net income attributable to common stockholders $ 170,718 $ 170,932 $ 332,106 $ 309,216 Change in provision for claimed indirect costs (a) (18,345) — (18,345) — Acquisition a
Slide 14: Non-GAAP Financial Information (Unaudited)
NON-GAAP FINANCIAL INFORMATION (Unaudited) (a) Represents the reduction to our provision for claimed indirect costs recorded during the second quarter of fiscal 2024, which resulted in a corresponding increase to revenue, as a result of the Defense Contract Audit Agency's findings related to its aud
Slide 15: Non-GAAP Financial Information (Unaudited)
NON-GAAP FINANCIAL INFORMATION (Unaudited) Three Months Ended Three Months Ended Three Months Ended Three Months Ended (a) Reflects the combination of Interest (In thousands, except share and per share data) September 30, 2023 June 30, 2023 March 31, 2023 December 31, 2022 expense and Other income,
Slide 16: Financial Results – Key Drivers
FINANCIAL RESULTS – KEY DRIVERS Second Quarter Fiscal 2024 – Below is a summary of the key factors driving results for the fiscal 2024 second quarter ended September 30, 2023 as compared to the prior year period: • Revenue increased 16.0% to $2.7 billion and Revenue, Excluding Billable Expenses incr
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