Financial Performance - Revenues for Q1 FY 2025 were $3.4 billion, representing a 72% increase year-over-year[2] - Net income improved to $12 million from a loss of $41 million in the previous year, a 129% change[2] - Adjusted EBITDA for Q1 FY 2025 was $262 million, up 3% from $255 million in Q1 FY 2024[2] - Revenues for the quarter ended December 27, 2024, were $3,416 million, a 72.1% increase from $1,983 million in the same quarter of the previous year[28] - Operating income rose to $132 million, compared to $86 million in the prior year, reflecting a 53.5% increase[28] - Net income attributable to common shareholders was $12 million, a significant recovery from a net loss of $41 million in the same quarter last year[28] - Adjusted EBITDA for the quarter was $264 million, reflecting strong operational performance[38] - Net income attributable to common shareholders was $122 million, resulting in a net income margin of 3.7%[47][48] - Basic and diluted earnings per share attributable to common shareholders improved to $0.05, compared to a loss of $0.46 per share in the previous year[28] - Basic and diluted earnings per share attributable to common shareholders were $0.50[47] Cash Flow and Financial Stability - Free cash flow for the quarter was $102 million, driven by strong cash earnings and disciplined working capital management[10] - The company had $522 million in cash and cash equivalents and $4.7 billion in debt as of December 27, 2024[10] - Cash and cash equivalents increased to $522 million from $452 million at the end of the previous quarter[31] - Net cash provided by operating activities was $110 million, a turnaround from a cash outflow of $83 million in the same quarter last year[32] - The company reported a net change in cash and cash equivalents of $70 million for the quarter, compared to a decrease of $94 million in the same quarter last year[32] - Total assets decreased slightly to $11,919 million from $11,974 million in the prior quarter[31] - Total liabilities decreased to $7,356 million from $7,422 million, indicating improved financial stability[31] Contracts and Backlog - The company reported a backlog of $45.2 billion, an increase of $17.9 billion compared to $27.3 billion in the previous year[11] - Notable contract awards included a $3 billion contract from the U.S. Department of Energy and a $447 million contract from the U.S. Department of Defense[13] Segment Performance - Digital Solutions revenues increased by 1% year-over-year, while Global Engineering Solutions revenues grew by 3%[9] Other Financial Metrics - Adjusted diluted earnings per share for Q1 FY 2025 were $0.51, a 2% increase from $0.50 in the previous year[2] - Operating income was reported at $119 million, with a pro forma non-GAAP operating income of $252 million[47] - EBITDA (non-GAAP) for the quarter was $255 million, with an EBITDA margin of 7.6%[47] - Acquisition, transaction, and integration costs amounted to $7 million[47] - Amortization of intangibles was $124 million, impacting the pro forma adjusted net income[47] - Non-operating expenses, net, were reported at $(82) million[47] - Provision for income taxes totaled $(41) million, reflecting adjustments for non-GAAP tax deductible items[47] - Share-based compensation expenses recognized were $2 million[47]
Amentum Holdings, Inc.(AMTM) - 2025 Q1 - Quarterly Results