Booz Allen Stock Surges After Earnings Beat: Retail Sentiment Brightens

Consulting services firm Booz Allen’s ($BAH) stock jumped 11% on Friday noon after the firm posted better-than-expected third-quarter earnings, lifting retail sentiment.

Earnings per share (EPS) of $1.81 was 22.74% above the consensus estimates, quoted by Wall Street analysts. Revenue clocked in at $3.15 billion, beating estimates by 6.1%.

The company declared a regular quarterly dividend of $0.51 per share, which is payable on Dec. 4, 2024 to stockholders of record on November 15, 2024.

Retail sentiment on the stock turned ‘extremely bullish’ (94/100) from ‘neutral’ a week ago, with the accompanying message volumes inching up into the extremely high (95/100) zone.

"Our first quarter performance demonstrates our strategic and operational momentum. We are on track to achieve our fiscal year guidance and our multi-year investment thesis,” Horacio Rozanski, Chairman, CEO, and president, said in a statement.

Booz Allen has also raised its FY25 revenue growth outlook to 11%-13% from 8%-11%. That compares to the consensus view of $11.84 billion, The Fly reported. It also raised FY25 adjusted Earnings Before Interests, Taxes, Depreciation and Amortization, EBITDA view to $1.3 billion-$1.33 billion from $1.26 billion-$1.3 billion. Additionally, its range for FY25 net cash estimate is upped to $925 million-$1.025 billion from the previous view of $825 million-$925 million.

Stocktwits users believe the shares could rally even further. 

BAH stock is up 44.49% year-to-date.

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