Booz Allen Announces 16% Revenue Growth in Q2 FY24; Horacio Rozanski Quoted

Booz Allen Hamilton (NYSE: BAH) released its results for the second quarter of fiscal 2024 and raised its top and bottom lines guidance for the full fiscal year. In the three months that ended Sept. 30, 2023, revenue rose 16 percent to $2.67 billion versus Q2 FY23, recording the best first half in company history.

For the first half of FY24, revenue and net income increased 17 percent and 7.5 percent to $5.32 billion and $332.1 million, respectively, compared to the same period last year. Booz Allen expects revenue growth between 11 percent and 14 percent in the full fiscal year, where 10 percent to 13 percent are organic.

“At the mid-point of our three-year Investment Thesis, our excellent second quarter and exceptional first half position us ahead of pace to achieve our multiyear goals,” said Horacio Rozanski, president and CEO of Booz Allen and two-time Wash100 awardee. He also highlighted the company’s Velocity, Leadership and Technology strategy.

The company aims to grow adjusted EBITDA to approximately $1.2 billion to $1.3 billion in FY25 from $840 million in FY21.

Other highlights during the quarter include a 19.2 percent increase in operating income to $267 million and a 10.1 percent jump in quarterly backlog to $35 billion from a year ago. Notably, the nine percent and 15.7 percent organic revenue growth in FY23 and the first half of FY24 are above the company’s target range.

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