Amentum Holdings Inc. (AMTM) reports earnings

The report was filed on February 5, 2025

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Amentum Holdings Inc. (AMTM-3.11%) has submitted its 10-Q filing for the quarterly period ended December 27, 2024.

The filing includes financial statements for the quarter, showing an increase in revenues to $3,416 million from $1,983 million in the same quarter the previous year. This increase is attributed to the merger with Jacobs Solutions Inc.'s Critical Mission Solutions business.

Cost of revenues for the quarter was $3,055 million, representing 89.4% of revenues, compared to 90.2% in the same quarter of the previous year.

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Selling, general, and administrative expenses increased to $130 million from $67 million, primarily due to the merger with CMS.

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The company reported an operating income of $132 million for the quarter, compared to $86 million in the previous year.

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Interest expense and other, net decreased to $87 million from $111 million, primarily due to a reduction in the term loan principal balance and a decrease in interest rates.

Net income for the quarter was $21 million, up from a net loss of $39 million in the previous year. After accounting for non-controlling interests, net income attributable to common shareholders was $12 million, compared to a loss of $41 million in the previous year.

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Cash provided by operating activities was $110 million, while cash used in investing and financing activities was $8 million and $16 million, respectively.

Amentum had a total backlog of $45.2 billion as of December 27, 2024, compared to $27.3 billion in the previous year, primarily due to the merger with CMS.

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The filing also details various financial agreements, including a senior secured credit facility and senior notes offering.

Amentum does not anticipate any material adverse effects from ongoing legal proceedings and government investigations.

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The company continues to focus on its two segments: Digital Solutions and Global Engineering Solutions, which have shown growth due to the merger and new contract awards.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Amentum Holdings Inc. quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.