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Booz Allen Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary23 Jan, 2026
Executive summary
Third-quarter revenue declined 10–10.2% year-over-year to $2.6 billion, mainly due to a prolonged government shutdown and a slowed procurement environment, but results aligned with revised guidance and benefited from disciplined cost management and strategic investments.
Net income rose 7% year-over-year to $200 million, aided by a significant tax benefit, while adjusted net income increased up to 9%.
Cost reduction initiatives reduced annual run rate spend by $150 million, with full profitability impact expected next fiscal year.
Strategic focus on outcome-based contracting, product sales, and investments in growth vectors such as cyber, national security, partnerships, and AI, including a new partnership with Andreessen Horowitz (a16z).
Leadership transition announced, with CFO Matt Calderone departing and Kristine Martin Anderson serving as interim CFO.
Financial highlights
Q3 revenue was $2.62 billion (down 10–10.2% YoY); revenue ex-billables declined 6.7–7%.
Adjusted EBITDA was $285 million for Q3 (margin 10.9%), down 14.2% YoY.
Net income for Q3 was $200 million (up 7% YoY); adjusted net income was $215 million (up 8.6–9% YoY).
Diluted EPS grew 12–12.4% to $1.63; adjusted diluted EPS up 14–14.2% to $1.77.
Free cash flow for Q3 was $248 million, up 85.1% YoY; cash on hand at quarter-end was $882 million.
Outlook and guidance
Fiscal year 2026 revenue expected between $11.3 billion and $11.4 billion, a 5–6% decline.
Adjusted EBITDA guidance narrowed to $1.195–$1.215 billion; adjusted diluted EPS raised to $5.95–$6.15, reflecting a $235 million cash tax benefit from new S174 rules.
Free cash flow forecasted between $825 million and $900 million.
Q4 funding expected to improve but remain slower than usual.
Explain headcount reduction drivers
Explain the divergent FY26 EPS and FCF guidance
Reconcile Q3 0.3x book-to-bill with demand strengthening
How does a16z partnership accelerate tech solutions?
Civil business: What specific tech drives its rebound?
Outcome-based contracts: How will margins expand?
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Next Booz Allen earnings date
Q4 202622 May, 2026
Booz Allen
Next Booz Allen earnings date
Q4 202622 May, 2026
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Frequently asked questions
Booz Allen Hamilton Holding Corporation is a management and technology consulting firm that provides strategic, analytical, and engineering services to government and commercial clients. The company specializes in cybersecurity, analytics, digital solutions, and operations support. Booz Allen Hamilton Holding Corporation is headquartered in McLean, Virginia, and its shares are listed on the NYSE.
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