- Amentum reported strong third-quarter results, including higher profitability and better cash flow
- The company’s total backlog reached $48.2 billion, reflecting continued demand across key markets
- Amentum recorded $17.7 billion in bookings over the past 12 months
Amentum reported $3.49 billion in third-quarter fiscal 2026 revenue and ended the period with a total backlog of $48.2 billion, while raising portions of its full-year earnings outlook.
In an earnings release published Monday, the Chantilly, Virginia-based company reported $66 million in net income for the quarter, compared with $10 million in the prior-year period. Operating income rose 67 percent year over year to $172 million.
Adjusted EBITDA increased 6 percent to $290 million, while adjusted diluted earnings per share climbed 20 percent to $0.67. Free cash flow reached $135 million, up 35 percent from the same quarter in fiscal 2025.
Amentum CEO John Heller, a 10-time Wash100 Award winner, said the company delivered solid third-quarter results with strong operating performance, profitability and free cash flow despite near-term dynamics affecting the “revenue outlook.”
“Our strong year-to-date results allow us to increase guidance for both Adjusted EBITDA and Adjusted Diluted EPS,” said Heller. “Looking ahead, we’ve made significant progress executing our strategy and our leading business development indicators remain robust, including recently announced key wins and partnerships in global nuclear energy.”
What Awards Contributed to Amentum’s Backlog Growth?
Amentum reported $17.7 billion in net bookings during the last 12 months and a trailing 12-month book-to-bill ratio of 1.3x. Total backlog increased 8 percent year over year to $48.2 billion, while funded backlog grew 10 percent to $6.2 billion.
Notable awards reflected in the backlog included more than $1 billion in classified U.S. and international defense awards and over $400 million in work supporting advanced nuclear technologies.
The company also booked approximately $500 million tied to NASA’s Contract for Organizing Spaceflight Mission Operations and Systems, or COSMOS, award, as well as a $974 million Center Maintenance Operations and Engineering II contract from NASA’s Langley Research Center.
In addition, Amentum secured about $250 million in contracts supporting communications networks, cloud infrastructure, data centers and technology modernization efforts.
How Did Amentum Update Its FY2026 Outlook?
For fiscal 2026, Amentum narrowed its revenue guidance range to between $13.8 billion and $13.95 billion. The company raised its adjusted EBITDA guidance to between $1.115 billion and $1.14 billion, up from its prior range of $1.1 billion to $1.14 billion. Amentum also increased adjusted diluted EPS guidance to between $2.40 and $2.50, compared with its previous outlook of $2.25 to $2.45. Amentum maintained its free cash flow guidance range of $525 million to $575 million.
Amentum expects a 3 percent revenue impact in fiscal 2027 from a NASA workforce directive that will shift some engineering and scientific work currently performed by contractors back to the agency.
Stephen Arnette, chief operating officer of Amentum and a previous Wash100 Award winner, said NASA has “firmed up their plan” and shared it with the company on a contract-by-contract basis, adding that the transition “is underway, and we have a good view” of its scope. He said the financial impact on adjusted EBITDA would be smaller than the revenue impact because the affected contracts are margin-dilutive to Amentum.
