ManTech Reports $464M in Contract Awards, 6.7% Revenue Growth for Q1 2022

ManTech International (Nasdaq: MANT) posted $675.5 million in fiscal 2022 first quarter revenue, up 6.7 percent from the prior-year period, and attributed the growth to contract awards and acquisitions.

The Herndon, Virginia-based government services contractor stated 66 percent of the $464 million in total awards from multiple customers during the January-March period represent new business for the company.

Backlog as of March 31 sat at $10.3 billion and $1.4 billion of it was funded.

ManTech said it issued $16.7 million in cash dividends, or $0.41 per share, to holders of record as of March 11 and still has “ample financial capacity” to fund its organic investment and acquisition pursuits.

The company left its 2022 revenue guidance unchanged at between $2.6 billion and $2.7 billion.

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