Booz Allen Hamilton Holding (BAH) Q1 2024 Earnings Call Transcript

For the period ending June 30, 2023

July 28, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning. Thank you for standing by. And welcome to Booz Allen Hamilton's Earnings Call covering First Quarter Fiscal Year 2024 Results. [Operator Instructions] I'd now like to turn the call over to Mr. Nathan Rutledge. Please go ahead, sir.

Nathan Rutledge

Good morning, and thank you for joining us for Booz Allen's First Quarter Fiscal Year 2024 Earnings Call. We hope you've had an opportunity to read the press release we issued earlier this morning. We have also provided presentation slides on our website and are now on Slide 2. With me today to talk about our business and financial performance are Horacio Rozanski, our President and Chief Executive Officer; and Matt Calderone, Executive Vice President and Chief Financial Officer.

As shown on the disclaimer on Slide 3, please keep in mind that some of the items we will discuss this morning are forward-looking and may relate to future events or future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from forecasted results discussed in our SEC filings and on this call. All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements and speak only as of the date made. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

During today's call, we will also discuss some non-GAAP financial measures and other metrics, which we believe provide useful information for investors. We include an explanation of adjustments and other reconciliations of our non-GAAP measures to the most comparable GAAP measures in our first quarter fiscal year 2024 earnings release and slides.

It is now my pleasure to turn the call over to our CEO and President, Horacio Rozanski. We are now on Slide 4.

Horacio Rozanski

Thank you, Nathan, and good morning, everyone. Thank you for joining the call. This morning, Matt and I are excited to share outstanding financial results for the first quarter of fiscal year 2024.

Our business is performing extremely well across all metrics. In the first quarter, revenue grew 18% year-over-year, with industry-leading organic growth. The bottom line was exceptional, and our headcount grew at a record pace to more than 32,000 Booz Allen employees. I believe these numbers speak for themselves. I could not be more proud of our people for delivering a truly tremendous first quarter, as we advance our VoLT strategy and serve our clients' most critical missions.