BAH Q1 2026 Earnings
Reported Jul 25, 2025 at 6:47 AM ET · SEC Source
Q1 26 EPS
$1.48
BEAT +2.09%
Est. $1.45
Q1 26 Revenue
$2.92B
MISS 0.78%
Est. $2.95B
vs S&P Since Q1 26
-40.6%
TRAILING MARKET
BAH -27.5% vs S&P +13.1%
Market Reaction
Did BAH Beat Earnings? Q1 2026 Results
Booz Allen Hamilton delivered a modest beat on the bottom line in Q1 fiscal 2026, with adjusted diluted EPS of $1.48 topping the $1.45 consensus estimate by 2.09%, even as revenue of $2.92 billion came in 0.78% below expectations and slipped 0.6% yea… Read more Booz Allen Hamilton delivered a modest beat on the bottom line in Q1 fiscal 2026, with adjusted diluted EPS of $1.48 topping the $1.45 consensus estimate by 2.09%, even as revenue of $2.92 billion came in 0.78% below expectations and slipped 0.6% year-over-year. The headline story, however, was a one-time $106 million IRS tax benefit tied to prior-year strategic tax planning, which propelled GAAP net income 64.2% higher to $271 million, though the underlying adjusted business grew at a more measured pace, with Adjusted Net Income up just 2.2%. Operationally, defense revenue climbed to $1.52 billion and intelligence revenue rose to $484 million, offsetting a civil segment decline tied to ongoing restructuring. A record Q1 backlog of $38.27 billion, up 10.7% year-over-year, and a 1.42x book-to-bill ratio point to sustained demand ahead. Management reaffirmed full-year revenue guidance of $12.00 to $12.50 billion while raising its free cash flow outlook by $200 million to a range of $900 million to $1.00 billion, citing anticipated tax benefits from new federal legislation.
Key Takeaways
- • Strong performance across defense and intelligence markets
- • Revenue excluding billable expenses grew 2.3% driven by higher-margin labor-based work
- • Ongoing cost management efforts improving Adjusted EBITDA margin by 30 basis points
- • One-time $106 million income tax benefit from favorable IRS agreement on prior-year tax planning initiatives
- • Strong collection performance driving improved operating cash flow
- • Lower compensation disbursements contributing to cash flow improvement
BAH YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
BAH Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our first quarter delivered as expected. Booz Allen is winning work that enables us to bring tech into the administration's mission priorities.”
— Horacio Rozanski, Q1 2026 Earnings Press Release
BAH Earnings Trends
BAH vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BAH EPS Trend
Earnings per share: estimate vs actual
BAH Revenue Trend
Quarterly revenue: estimate vs actual
BAH Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $1.27 | $1.77 | +39.32% | $2.62B | -3.86% |
| Q2 26 MISS | $1.51 | $1.49 | -1.42% | $2.89B | -2.74% |
| Q1 26 BEAT | $1.45 | $1.48 | +2.09% | $2.92B | -0.78% |
| Q4 25 MISS FY | $1.61 | $1.61 | -0.27% | $2.97B | -1.96% |
| FY Full Year | $6.35 | $6.35 | -0.01% | $11.98B | -0.49% |