Booz Allen Hamilton Holding Corporation · NYSE:BAH
Booz Allen Hamilton — Q4 2023 Earnings Presentation
16 slides from Booz Allen Hamilton's earnings presentation, May 26, 2023
Slide 1: Earnings Call Presentation Fiscal Year 2023, Fourth Quarter
EARNINGS CALL PRESENTATION Fiscal Year 2023, Fourth Quarter May 26, 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 FISCAL YEAR 2023 RESULTS FOURTH QUARTER (1) FISCAL YEAR 2023 (1) Revenue $2.4 billion +8.7% $9.3 billion +10.7% Revenue, Excluding Billable Expenses $1.7 billion +7.1% $6.5 billion +9.5% Net Income (Loss) $(68) million (175.3)% $271 million (41.9)% Adjusted EBITDA2 $231 million
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 FISCAL YEAR 2023 RESULTS FOURTH QUARTER (1) FISCAL YEAR 2023 (1) Revenue $2.4 billion +8.7% $9.3 billion +10.7% Revenue, Excluding Billable Expenses $1.7 billion +7.1% $6.5 billion +9.5% Net Income (Loss) $(68) million (175.3)% $271 million (41.9)%
Slide 7: Historical Backlog & Book-to-Bill
HISTORICAL BACKLOG & BOOK-TO-BILL BACKLOG ($ IN BILLIONS) (1)(2) $31.8 $31.2 $30.0 $29.0 $27.8 $29.2 $28.6 $22.0 $26.8 $24.6 $23.3 $24.0 $23.0 $16.0 $17.1 $14.6 $15.6 $14.6 $15.4 $14.3 $14.3 $13.9 $13.7 $14.4 $14.8 $9.5 $10.4 $10.1 $9.5 $6.2 $9.0 $9.4 $9.9 $10.0 $4.7 $6.0 $6.1 $3.4 $4.5 $3.6 $3.5 $3
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 2023, we deployed approximately $905.0 million: – $235.7 million
Slide 9: Financial Outlook
FINANCIAL OUTLOOK FULL YEAR FISCAL 2024 GUIDANCE(1) OPERATING PERFORMANCE Fiscal Year 2024 Total Revenue Growth 7.0% – 11.0% Adjusted EBITDA $1,075 – $1,105 million Adjusted EBITDA Margin on Revenue High 10% to 11% Adjusted Diluted EPS $4.80 – $4.95 Net Cash Provided by Operating Activities $500 – $
Slide 10: Appendix
APPENDIX 10
Slide 11: 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 12: Non-GAAP Financial Information (Unaudited)
NON-GAAP FINANCIAL INFORMATION (Unaudited) Three Months Ended Fiscal Year Ended March 31, March 31, (In thousands, except share and per share data) 2023 2022 2023 2022 Revenue, Excluding Billable Expenses Revenue $ 2,433,261 $ 2,238,076 $ 9,258,911 $ 8,363,700 Less: Billable expenses 739,124 656,948
Slide 13: 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 14: 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) March 31, 2023 December 31, 2022 September 30, 2022 June 30, 2022 (a) Reflects the combination of Interest Net income (loss) attribut
Slide 15: Financial Results – Key Drivers
FINANCIAL RESULTS – KEY DRIVERS Fourth Quarter Fiscal 2023 – Below is a summary of the key factors driving results for the fiscal 2023 fourth quarter ended March 31, 2023 as compared to the prior year period: • Revenue increased 8.7% to $2.4 billion and Revenue, Excluding Billable Expenses increased
Slide 16: Financial Results – Key Drivers
FINANCIAL RESULTS – KEY DRIVERS Fiscal year ended March 31, 2023 – Below is a summary of the key factors driving results for the fiscal year 2023 ended March 31, 2023 as compared to the prior year: • Revenue increased 10.7% to $9.3 billion and Revenue, Excluding Billable Expenses increased 9.5% to $
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