{"id":847711,"date":"2025-05-06T16:45:11","date_gmt":"2025-05-06T20:45:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/amentum-reports-second-quarter-fiscal-year-2025-results\/"},"modified":"2025-05-06T16:45:11","modified_gmt":"2025-05-06T20:45:11","slug":"amentum-reports-second-quarter-fiscal-year-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/amentum-reports-second-quarter-fiscal-year-2025-results\/","title":{"rendered":"Amentum Reports Second Quarter Fiscal Year 2025 Results"},"content":{"rendered":"

<\/p>\n

Amentum Reports Second Quarter Fiscal Year 2025 Results<\/b><\/p>\n

Revenues of $3.5 billion, 1% growth on a pro forma basis<\/i><\/p>\n

Net Income of $4 million; Adjusted EBITDA of $268 million<\/i><\/p>\n

Diluted Earnings Per Share of $0.02; Adjusted Diluted Earnings Per Share of $0.53<\/i><\/p>\n

Operating Cash Flow of $57 million; Free Cash Flow of $53 million<\/i><\/p>\n

Backlog of $45 billion; 1.0x YTD Book-to-Bill<\/i><\/p>\n

CHANTILLY, Va.–(BUSINESS WIRE<\/a>)–
\nAmentum Holdings, Inc. (\u201cAmentum\u201d or the \u201cCompany\u201d) (NYSE: AMTM), a leading advanced engineering and technology company, today announced results for the second quarter ended March 28, 2025 and updated its outlook for fiscal year 2025, reaffirming the mid-points of prior guidance.\n<\/p>\n

\n\u201cAmentum delivered solid results this quarter, underscoring the strength of our mission-focused portfolio and the consistency of demand across our markets,\u201d said Amentum Chief Executive Officer John Heller. \u201cOur performance, combined with our recently announced divestiture of Rapid Solutions, highlights the strength of our business as a premier pure-play advanced engineering and technology solutions company and enhances our financial flexibility. We remain focused on delivering differentiated value to our customers and driving long-term growth through disciplined execution.\u201d\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Summary Operating Results<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(in millions, except per share data)<\/i><\/p>\n<\/td>\n

\n

March 28, 2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

March 29, 2024<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

% Change<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

GAAP Measures:<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nRevenues\n<\/p>\n<\/td>\n

\n

\n$3,491\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$2,051\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n70%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating income\n<\/p>\n<\/td>\n

\n

\n$110\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$89\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

24%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nNet income (loss)\n<\/p>\n<\/td>\n

\n

\n$4\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$(41)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

110%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted earnings (loss) per share\n<\/p>\n<\/td>\n

\n

\n$0.02\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$(0.46)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

104%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

Pro Forma and Non-GAAP Measures1,2<\/sup>:<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nRevenues\n<\/p>\n<\/td>\n

\n

\n$3,491\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$3,465\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

1%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA2<\/sup><\/p>\n<\/td>\n

\n

\n$268\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$260\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

3%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA Margin2<\/sup><\/p>\n<\/td>\n

\n

\n7.7%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n7.5%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

+ 20 bps<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted Diluted Earnings Per Share (EPS)2<\/sup><\/p>\n<\/td>\n

\n

\n$0.53\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$0.51\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

4%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nFree Cash Flow2<\/sup><\/p>\n<\/td>\n

\n

\n$53\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nN\/A\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nN\/A\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n
\n

\n1 \u2013 March 29, 2024 Revenues and Non-GAAP financial measures are presented on a pro forma basis to include the results of Jacob’s Critical Mission Solutions and Cyber & Intelligence (CMS) businesses prepared in accordance with the requirements of Article 11 of Regulation S-X.\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n2 \u2013 Non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accordance with GAAP. Management believes that these non-GAAP measures provide another measure of Amentum\u2019s results of operations and financial condition, including its ability to comply with financial covenants. See Unaudited Pro Forma Non-GAAP Financial Measures at the end of this press release for more information and a reconciliation of our selected reported results to these non-GAAP measures.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

GAAP Results<\/span><\/p>\n

\nGAAP revenues increased 70% year-over-year primarily as a result of revenues from the combination with Jacobs’ Critical Mission Solutions and Cyber & Intelligence (CMS) businesses. GAAP operating income increased as a result of the contribution from CMS, partially offset by increased intangible amortization expense. GAAP net income and diluted earnings per share improved year-over-year due to the higher operating income and lower interest expense.\n<\/p>\n

Pro Forma and Non-GAAP Results<\/span><\/p>\n

\nPro forma revenues, which include the results of CMS prepared in accordance with the requirements of Article 11 of Regulation S-X, increased 1% year-over-year driven by growth in Digital Solutions. Pro Forma Adjusted EBITDA increased 3% year-over-year primarily due to the higher revenues and improved operating performance. Pro Forma Adjusted Net Income and Adjusted Diluted Earnings Per Share increased due to higher operating profit partially offset by increases in interest and tax expenses.\n<\/p>\n

Pro Forma and Non-GAAP Segment Results<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Three Months Ended<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(in millions)<\/i><\/p>\n<\/td>\n

\n

March 28, 2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

March 29, 20241<\/sup><\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

% Change<\/i><\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

March 28, 2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

March 29, 20241<\/sup><\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

% Change<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nRevenues\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nDigital Solutions\n<\/p>\n<\/td>\n

\n

\n$1,340\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$1,299\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

3%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$2,626\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$2,578\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nGlobal Engineering Solutions\n<\/p>\n<\/td>\n

\n

\n2,151\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,166\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

(1)%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,281\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,225\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

1%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Revenues\n<\/p>\n<\/td>\n

\n

\n$3,491\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$3,465\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

1%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$6,907\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$6,803\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA2<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nDigital Solutions\n<\/p>\n<\/td>\n

\n

\n$107\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$100\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

7%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$207\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$199\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

4%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nGlobal Engineering Solutions\n<\/p>\n<\/td>\n

\n

\n161\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n160\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

1%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n323\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n316\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Adjusted EBITDA\n<\/p>\n<\/td>\n

\n

\n$268\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$260\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

3%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$530\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$515\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

3%<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n
\n

\n1 \u2013 March 29, 2024 Revenues and Non-GAAP financial measures are presented on a pro forma basis.\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n2 \u2013 Non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accordance with GAAP. Management believes that these non-GAAP measures provide another measure of Amentum\u2019s results of operations and financial condition, including its ability to comply with financial covenants. See Unaudited Pro Forma Non-GAAP Financial Measures at the end of this press release for more information and a reconciliation of our selected reported results to these non-GAAP measures.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nDigital Solutions revenues for the second quarter increased 3% year-over-year driven by higher volume from new commercial contract awards, partially offset by the expected ramp-down of other historical programs. Adjusted EBITDA increased 7% year-over-year due to the higher revenues and improved operating performance.\n<\/p>\n

\nGlobal Engineering Solutions revenues for the second quarter decreased 1% year-over-year as a result of the expected ramp-down on certain historical programs, partially offset by new contract awards and growth on existing programs. Adjusted EBITDA increased 1% year-over-year as a result of improved operating performance.\n<\/p>\n

Cash Flow Summary<\/span><\/p>\n

\nDuring the three months ended March 28, 2025, Amentum generated $57 million of net cash provided by operating activities and used $31 million and $12 million in investing and financing activities, respectively. Net cash provided by operating activities was driven by strong cash earnings and disciplined working capital management partially offset by the timing of tax and interest payments. Investing activities included $4 million in capital expenditures, which resulted in quarterly free cash flow of $53 million, as well as contributions of $27 million to equity method investments. Financing activities consisted primarily of $9 million in distributions to non-controlling interests. As of March 28, 2025, Amentum had $546 million in cash and cash equivalents and $4.7 billion of debt.\n<\/p>\n

Backlog and Contract Awards<\/span><\/b><\/p>\n

\nAs of March 28, 2025, the Company had total backlog of $44.8 billion, compared with $27.2 billion as of March 29, 2024, an increase of $17.6 billion primarily due to the acquisition of CMS. Funded backlog as of March 28, 2025 was $5.8 billion.\n<\/p>\n

Notable Q2 Fiscal Year 2025 Awards<\/span><\/p>\n