Revenue and Growth Metrics
Amentum reported revenues of $3.6 billion, reflecting 2% growth, and an adjusted EBITDA of $274 million, marking 7% year-over-year growth. Free cash flow was $100 million.
Net Leverage Reduction
Amentum reduced its net leverage ratio to 3.5x, ahead of original expectations, by repaying $200 million in debt during the quarter and an additional $250 million subsequently.
Strong Bookings and Backlog
Reported $3.4 billion in net bookings this quarter and ended with $29 billion in pending awards and a total backlog of $45 billion, representing 3.2x annual revenue.
Significant Contract Wins
Awarded the $4 billion Space Force Range Contract and a CAD 1.2 billion annually valued contract for Canadian Nuclear Laboratories. Secured over $2 billion in bookings from on-contract growth modifications.
Nuclear Market Growth
Amentum is well-positioned in the nuclear market, working on 29 projects with over 50 projects in capture over the next 3 years, supported by favorable U.S. investment environment and executive orders.
Raising Full Year Guidance
Increased full-year revenue expectations to $13.975 billion to $14.175 billion, adjusted EBITDA remains at $1.065 billion to $1.095 billion with a minor $5 million underlying organic increase.