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Booz Allen Hamilton Holding Corporation (BAH-1.84%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports an increase in revenue to $2.9 billion for the three months ended December 31, 2024, up from $2.6 billion in the same period the previous year. This increase is attributed to strong demand for services and solutions, headcount growth, and higher billable expenses.
Operating income for the quarter rose to $291.3 million from $247.6 million in the previous year. The increase reflects improved contract performance and cost management.
Net income for the quarter was $186.95 million, compared to $145.64 million in the previous year. The effective tax rate decreased to 24.7% from 29.8%.
Cash provided by operating activities was $790 million for the nine months ended December 31, 2024, compared to $115.1 million used in the previous year. The increase is due to overall revenue growth and insurance recoveries from fiscal 2024 settlements.
Capital expenditures for the nine months ended December 31, 2024, were $73.4 million, primarily for leasehold improvements and secure space updates.
Total backlog increased to $39.4 billion as of December 31, 2024, from $34.3 billion in the previous year, reflecting strong contract awards and renewals.
The company completed the acquisition of PAR Government Systems Corporation for approximately $98.7 million during the quarter.
Booz Allen Hamilton reported total debt of $3.37 billion as of December 31, 2024, with no outstanding balance on its revolving credit facility.
The company declared a quarterly cash dividend of $0.55 per share, payable on March 4, 2025, to stockholders of record on February 14, 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Booz Allen Hamilton Holding Corporation quarterly 10-Q report dated January 31, 2025. To report an error, please email earnings@qz.com.