Booz Allen Hamilton Holding Corporation · NYSE:BAH
Booz Allen Hamilton — Q2 2023 Earnings Presentation
17 slides from Booz Allen Hamilton's earnings presentation, Oct 28, 2022
Slide 1: Earnings Call Presentation
EARNINGS CALL PRESENTATION Fiscal Year 2023, Second Quarter October 28, 2022
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 2023 RESULTS SECOND QUARTER (1) FIRST HALF (1) Revenue $2.3 billion +9.2% $4.5 billion +11.1% Revenue, Excluding Billable Expenses $1.6 billion +10.1% $3.2 billion +10.0% Adjusted EBITDA $286 million +6.0% $539 million +6.1% Adjusted EBITDA Margin on
Slide 5: Investment Thesis
INVESTMENT THESIS EXCEPTIONAL SHAREHOLDER VALUE CREATION Y2023—FY2025 GOALS ADJUSTED EBITDA. viseitine GROWTH 10 $1.2—1.3B._ fanltal Deployment Organic Strategic Strong Mid 10% $3 h— 4.5B Revenue e Acquisitions & +) Adjusted EBITDA 5-8% Investments Margin
Slide 6: Key Financial Results
Page 4 intentionally repeated KEY FINANCIAL RESULTS SECOND QUARTER FISCAL YEAR 2023 RESULTS SECOND QUARTER (1) FIRST HALF (1) Revenue $2.3 billion +9.2% $4.5 billion +11.1% Revenue, Excluding Billable Expenses $1.6 billion +10.1% $3.2 billion +10.0% Adjusted EBITDA $286 million +6.0% $539 million +6
Slide 7: Historical Backlog & Book-to-Bill
HISTORICAL BACKLOG & BOOK-TO-BILL BACKLOG ($ IN BILLIONS) (1) $31.8 $29.0 $22.0 $29.2 $28.6 $26.8 $27.8 $24.6 $23.3 $24.0 $22.0 $23.0 $20.7 $16.0 $14.6 $14.3 $15.6 $14.6 $14.3 $13.9 $13.7 $14.4 $13.1 $12.8 $14.8 $9.5 $10.4 $6.2 $9.0 $9.4 $9.9 $10.0 $5.3 $4.5 $4.7 $6.0 $6.1 $3.5 $3.4 $3.4 $4.5 $3.6 $
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 2023, we deployed approximately $86.9 million: – $57.0 million th
Slide 9: Financial Outlook
FINANCIAL OUTLOOK RAISING FULL YEAR FISCAL 2023 GUIDANCE OPERATING PERFORMANCE Updated FY23 Guidance Original FY23 Guidance Total Revenue Growth1 8.0 – 10.0% 5.0 – 9.0% Adjusted EBITDA $975 – $1,015 million $950 – $1,000 million Adjusted EBITDA Margin on Revenue High 10%-to-Low 11% Mid-to-High 10% A
Slide 10: Fiscal Year 2023 Operating Cash Bridge
FISCAL YEAR 2023 OPERATING CASH BRIDGE Operating Cash Updated Guidance1 Original Guidance1 Bridge FY22 to FY23 FY22 Operating Cash $737 million $737 million FY22 Net Cash Paid for Income $(127) million $(127) million Taxes2 Adjusted EBITDA Growth3 ~$40 – $80 million ~$15 – $65 million Interest Expen
Slide 11: Fiscal Year 2023 ADEPS Bridge
FISCAL YEAR 2023 ADEPS BRIDGE ADEPS BRIDGE Updated Guidance1 Original Guidance1 FROM FY22 TO FY23 FY22 ADEPS $4.21 $4.21 Revenue Growth ~$0.43 – $0.53 ~$0.28 – $0.48 Adjusted EBITDA Margin ~$(0.19) – $(0.05) ~$(0.20) – $(0.10) FY23 Operational ADEPS $4.45 – $4.70 $4.29 – $4.59 Depreciation and Amort
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 (Unaudited)
NON-GAAP FINANCIAL INFORMATION (Unaudited) Three Months Ended Six Months Ended September 30, September 30, (In thousands, except share and per share data) 2022 2021 2022 2021 Revenue, Excluding Billable Expenses Revenue $ 2,298,976 $ 2,106,038 $ 4,548,576 $ 4,095,104 Less: Billable expenses 684,941
Slide 15: Non-GAAP Financial Information (Unaudited)
NON-GAAP FINANCIAL INFORMATION (Unaudited) (a) Represents costs associated with the acquisition efforts of the Company related to transactions for which the Company has entered into a letter of intent to acquire a controlling financial interest in the target entity, as well as the divestiture costs
Slide 16: Non-GAAP Financial Information (Unaudited)
NON-GAAP FINANCIAL INFORMATION (Unaudited) Three Months Ended Three Months Ended Three Months Ended Three Months Ended (In thousands, except share and per share data) September 30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 (a) Reflects the combination of Interest expense and Other income,
Slide 17: Financial Results – Key Drivers
FINANCIAL RESULTS – KEY DRIVERS Second Quarter Fiscal 2023 – Below is a summary of the key factors driving results for the fiscal 2023 second quarter ended September 30, 2022 as compared to the prior year period: • Revenue increased 9.2% to $2.3 billion and Revenue, Excluding Billable Expenses incre
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