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北京时间·🕒 发布 22:28:33时区推断·⟳ 抓取 22:36:19·⚡ 决策 07-24 22:37:11 +52s·94.7 天前
博思艾伦一季度调整后盈利超预期但收入下滑并维持全年指引
博思艾伦（BAH.US）FQ1调整后EPS为1.81美元，高于FactSet一致预期1.48美元，调整后EBITDA利润率同比提升至11.9%。
📄 原文Seeking Alpha↗ 原文
Booz Allen surges after easily beating Q1 earnings, maintaining guidance
Booz Allen Hamilton (BAH) up 14.9% in early trading Friday after reporting lower but better-than-expected FQ1 adjusted…
不做 博思艾伦（BAH.US）
财报虽有调整后EPS超预期，但收入下滑且全年指引未上修；信号到达时股价已盘中大涨约14.9%，剩余追多edge不足，不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
消息传播链
- 公司盘前发布FQ1 FY2027初步业绩，并说明将在8:00 ET召开电话会。
- 公司举行FQ1 FY2027业绩电话会，财报信息已进入公开投资者渠道。
- 媒体报道BAH因盈利超预期和维持指引盘中大涨约14.9%，说明价格已快速反应。市场反应:BAH盘中约+14.9%
关键理由
- 博思艾伦（BAH.US）FQ1调整后EPS为1.81美元，高于FactSet一致预期1.48美元，调整后EBITDA利润率同比提升至11.9%。
- 但收入同比下降4.2%至28亿美元、净利润同比下降，全年收入和EPS指引仅维持且基本贴近一致预期，增量主要是盈利质量修复而非上修。
- 信号到达时股价已盘中上涨约14.9%，财报超预期已被即时重定价，继续追多缺乏可回测的剩余edge。
主要风险
- 若国防和网络安全需求继续加速、后续电话会给出更强订单或利润率指引，可能延续动量，但本条信号本身未给出上修。
- Civil业务仍承压，收入下滑和裁员说明基本面并非全面改善。
反向证据
- 做多前查反向 · 来源 web · 日期 2026-07-24 · 影响 weakens
反向证据是收入同比下降4.2%、净利润同比下降且全年指引仅维持，削弱追多胜率。
检索:Booz Allen fiscal Q1 2027 revenue decline civil business challenged guidance maintained 原文 ↗
原文全文
展开原文 · 1,191 字
Booz Allen Hamilton (BAH) up 14.9% in early trading Friday after reporting lower but better-than-expected FQ1 adjusted earnings while reaffirming its earnings and revenue forecast for the full year.
Q1 net income fell to $198M, or $1.63/share, from $271M, or $2.16/share, in the year-earlier quarter, and revenue fell 4.2% Y/Y to $2.8B; adjusted earnings came in at $1.81/share, well above the $1.48 FactSet consensus estimate, adjusted EBITDA rose 7.4% Y/Y to $334M, and adjusted EBITDA margin climbed to 11.9% from 10.6% in the prior-year period.
Booz Allen (BAH) said demand is accelerating across its national security portfolio, causing the company to focus on advanced cyber and defense technologies, as well as AI-native products, while its civil business remains challenged.
The company's backlog totaled $39.48B as of June 30, up 3.2% Y/Y, while total headcount stood at ~30.9K, down 7.5% Y/Y.
CEO Horacio Rozanski said the company is on track to meet full-year guidance for earnings of $6.00-$6.35/share, in line with the $6.26 FactSet analyst consensus, adjusted EBITDA of $1.24B-$1.29B, in line with $1.26B consensus, and revenue of $11.2B-$11.7B, in line with $11.42B consensus.
Q1 net income fell to $198M, or $1.63/share, from $271M, or $2.16/share, in the year-earlier quarter, and revenue fell 4.2% Y/Y to $2.8B; adjusted earnings came in at $1.81/share, well above the $1.48 FactSet consensus estimate, adjusted EBITDA rose 7.4% Y/Y to $334M, and adjusted EBITDA margin climbed to 11.9% from 10.6% in the prior-year period.
Booz Allen (BAH) said demand is accelerating across its national security portfolio, causing the company to focus on advanced cyber and defense technologies, as well as AI-native products, while its civil business remains challenged.
The company's backlog totaled $39.48B as of June 30, up 3.2% Y/Y, while total headcount stood at ~30.9K, down 7.5% Y/Y.
CEO Horacio Rozanski said the company is on track to meet full-year guidance for earnings of $6.00-$6.35/share, in line with the $6.26 FactSet analyst consensus, adjusted EBITDA of $1.24B-$1.29B, in line with $1.26B consensus, and revenue of $11.2B-$11.7B, in line with $11.42B consensus.
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