Amentum reported $3.5 billion in revenues during the second quarter of fiscal year 2025, up 1 percent on a pro forma basis driven by growth in the company’s digital solutions segment.
Q2 FY 2025 Financial Results
In an earnings release published Tuesday, the Chantilly, Virginia-based government technology company said that as of March 28, its total backlog was $44.8 billion, of which about $5.8 billion was funded.
Amentum’s generally accepted accounting principles revenues rose 70 percent year over year, driven by the company’s merger with Jacobs’ critical mission solutions and cyber and intelligence businesses.
During the second quarter, the company recorded $268 million in adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA; net income of $4 million; and adjusted diluted earnings per share of $0.51.
Operating cash flow for the quarter was $57 million, while free cash flow was $53 million.
“Amentum delivered solid results this quarter, underscoring the strength of our mission-focused portfolio and the consistency of demand across our markets,” said John Heller, CEO of Amentum and a nine-time Wash100 awardee.
“Our performance, combined with our recently announced divestiture of Rapid Solutions, highlights the strength of our business as a premier pure-play advanced engineering and technology solutions company and enhances our financial flexibility. We remain focused on delivering differentiated value to our customers and driving long-term growth through disciplined execution,” Heller added.
In April, Lockheed Martin agreed to acquire Amentum’s Rapid Solutions business for approximately $360 million in cash.
Supporting Critical National Security Priorities
During Amentum’s earnings conference call on Wednesday, the chief executive cited examples of how the company contributes to critical national security priorities. These include providing integrated test, training and operational support for the Missile Defense Agency under the Integrated Research and Development for Enterprise Solutions contract and helping U.S. Indo-Pacific Command improve operational readiness through the ITEAMS contract.
He noted that the company is “well positioned to play a significant role in the development and deployment of the Golden Dome Missile Defense Initiative” and is helping the Navy improve the resilience of its nuclear deterrent systems through nuclear modernization and strategic radiation-hardened microelectronics.
Notable Contract Wins
Amentum secured over $1 billion in intelligence contracts during the second quarter, enabling it to deliver mission-focused platforms, including critical infrastructure management, cybersecurity and intelligence analysis.
The company also received over $500 million in indefinite-delivery/indefinite-quantity task orders, including a program with the Naval Surface Warfare Center.
“Through this award, we’ll apply our proven expertise in electromagnetic environmental effects to strengthen the Navy’s decision making in spectrum dominance. Our solutions will enhance battle force interoperability by addressing electromagnetic interference challenges, delivering a strategic edge in naval operations,” Heller said of the Navy program.
The 2025 Wash100 awardee noted that the company has $29 billion in pending awards and remains on track to submit over $35 billion for the full fiscal year.
Updated FY 2025 Guidance
Amentum updated its outlook for FY 2025, expecting to record revenues of $13.85 billion to $14.15 billion and adjusted EBITDA of between $1.06 billion and $1.09 billion.
The government contractor reaffirmed the midpoints of its prior guidance. For the full fiscal year, it expects to report adjusted diluted EPS of $2 to $2.20 per share and free cash flow of $475 million to $525 million.