Booz Allen (BAH) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 22, 2026

Before Open (Confirmed)

Period Ending

2026 (Q4)

Consensus EPS Forecast

1.35

Last Year’s EPS

1.61

Same Quarter Last Year

Analyst Consensus

Hold

Based on 8 Analysts Ratings

Earnings Call Summary

Q3 2026

Earnings Call Date:Jan 23, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed operational resilience and meaningful progress on strategic priorities despite a challenging macro and funding environment. Key positives include stronger-than-expected adjusted profitability and EPS growth, substantial cost reductions (~$150M run-rate), record year-end backlog (> $38B), a near-term pipeline increase (~$53B, +12% YoY), strong cash generation ($248M FCF in Q3), productization (Velox Reverser) and a strategic a16z partnership ($400M commitment). Offsets include a ~10% YoY decline in quarterly revenue, a pronounced civil revenue decline (~28% YoY), a slow funding quarter with low net bookings (book-to-bill 0.3x), and timing/margin pressure from the government shutdown with some cost-savings benefits pushed to next fiscal year. On balance the highlights materially outweigh the lowlights due to improving margins, EPS, cash flow, strategic investments, and a growing qualified pipeline, supporting a constructive outlook for medium-term recovery and margin expansion.

Company Guidance

Booz Allen tightened fiscal 2026 guidance to revenue of $11.3–$11.4 billion, adjusted EBITDA of $1.195–$1.215 billion, adjusted diluted EPS of $5.95–$6.15, and free cash flow of $825–$900 million; Q3 results included $2.6 billion gross revenue (≈‑10% YoY, ≈‑7% ex‑billables), $285 million adjusted EBITDA (10.9% margin; YTD EBITDA margin 10.9%), $200 million net income, $215 million adjusted net income, diluted EPS $1.63 and ADEPS $1.77, $248 million Q3 free cash flow (cash from ops $261M less $13M CapEx), $882 million cash on hand, $3.1 billion net debt (net leverage 2.5x), $888 million net bookings in Q3 (quarterly book‑to‑bill 0.3x, TTM 1.1x), record year‑end backlog >$38 billion (+~2% YoY) and a qualified FY‑2027 pipeline of nearly $53 billion (+12% YoY); management expects Q4 margins to step down, noted cost actions that cut run‑rate spend by ~$150 million, estimated cumulative FY impact from the government shutdown of ~$50 million revenue and ~$20 million profit, $60 million of billable expenses shifted Q3→Q4, and a tax‑estimate change that adds about $0.47 to full‑year ADEPS.

Adjusted Profitability and EPS Growth

Adjusted EBITDA of $285M in Q3 and adjusted EBITDA margin of 10.9% (Q3 and YTD). Net income $200M (+7% YoY); adjusted net income $215M (+9% YoY). Diluted EPS $1.63 (+~12% YoY); adjusted diluted EPS $1.77 (+~14% YoY).

Strong Cash Generation and Balance Sheet

Free cash flow for Q3 of $248M (cash from operations $261M less $13M CapEx). Cash on hand $882M, net debt $3.1B, net leverage ~2.5x adjusted EBITDA (TTM).

Record Year-End Backlog and Growing Pipeline

Ended calendar year with a record year-end backlog >$38B (up ~2% YoY). Qualified pipeline for FY2027 nearly $53B, up ~12% YoY (national security +12%, civil +10%).

Cost Reduction Actions Completed

Completed cost actions that reduced run-rate spend by ~ $150M; actions largely executed in the quarter and set to benefit profitability next fiscal year.

Transition to Outcome-Based and Fixed-Price Work

Successfully transitioned majority of Thunderdome task orders to include fixed-price components and won nearly $100M of fixed-price work to expand Thunderdome across the Department of War, supporting medium- to long-term margin expansion.

Productization and AI/Cyber Momentum

Launched Velox Reverser (AI-native malware reverse engineering) to general availability for federal and commercial customers — reduces malware analysis from days to minutes and supports the company's AI/cyber growth vector.

Significant Strategic Partnership with a16z

Announced first-ever a16z technology acceleration partnership for governments and commitment to deploy up to $400M into a16z's late-stage venture fund to co-create commercial tech for government missions.

Notable Contract Wins and National Security Expansion

Awarded a $99M Navy contract (Military Sealift Command) to deliver global shipboard wireless capabilities (LEO satellites, advanced Wi‑Fi, 5G). Additional expansions with Navy PEO for unmanned/autonomous systems and visual object localization work.

Capital Deployment and Shareholder Returns

Deployed $195M in the quarter: $125M in share repurchases (avg $95.16; ~1% of shares), $67M in dividends. Board approved quarterly dividend of $0.59 per share. Continued opportunistic capital allocation while preserving balance sheet strength.

Tax Rate Improvement Driving EPS Benefit

Change in tax estimate increased R&D tax credit and FDII qualification, reducing effective tax rate and providing an incremental ~$0.47 benefit to ADEPS for the full fiscal year, with a meaningful portion expected to be recurring.

Booz Allen (BAH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BAH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 22, 2026	2026 (Q4)	1.35 / -	1.61	―	―	―
Jan 23, 2026	2026 (Q3)	1.36 / 1.77	1.55	14.19% (+0.22)
Oct 24, 2025	2026 (Q2)	1.51 / 1.49	1.81	-17.68% (-0.32)
Jul 25, 2025	2026 (Q1)	1.45 / 1.48	1.38	7.25% (+0.10)
May 23, 2025	2025 (Q4)	1.61 / 1.61	1.33	21.05% (+0.28)
Jan 31, 2025	2025 (Q3)	1.52 / 1.55	1.41	9.93% (+0.14)
Oct 25, 2024	2025 (Q2)	1.48 / 1.81	1.29	40.31% (+0.52)
Jul 26, 2024	2025 (Q1)	1.52 / 1.38	1.47	-6.12% (-0.09)
May 24, 2024	2024 (Q4)	1.23 / 1.33	1.01	31.68% (+0.32)
Jan 26, 2024	2024 (Q3)	1.14 / 1.41	1.07	31.78% (+0.34)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BAH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 23, 2026	$95.76	$102.23	+6.76%
Oct 24, 2025	$99.63	$90.80	-8.86%
Jul 25, 2025	$113.80	$111.76	-1.80%
May 23, 2025	$126.96	$105.98	-16.53%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.