By Rob Curran
Booz Allen Hamilton, a high-tech defense contractor based in McLean, VA, has raised its expectations for operating earnings and revenue growth for the current fiscal year.
The company now foresees adjusted earnings per share between $4.95 and $5.10 for the year ending in March, surpassing the previous estimated range of $4.80 to $4.95.
Additionally, Booz Allen has increased its revenue growth projection to a range of 11% to 14%, up from the previous target range of 7% to 11%. Based on fiscal 2023 revenue of $9.2 billion, this new guidance equates to a range of $10.21 billion to $10.49 billion.
Furthermore, the company has revised its estimate for adjusted earnings before interest taxes, depreciation, and amortization (EBITDA) for fiscal 2024. The updated range is now between $1.12 billion and $1.15 billion, compared to the previous target of $1.08 billion to $1.1 billion.
Booz Allen maintains its expectation of cash provided by operating activities to be within the range of $160 million to $260 million.
