Booz Allen Hamilton (BAH) Q2 FY27 earnings call

Earnings call· Sep 2026 (Q2 FY27)· Industrials· Oct 23, 2026

Source: earnings call transcript

Booz Allen Hamilton delivered strong Q2 FY27 results, driven by robust profitability and cash generation, particularly within its National Security segment. The company is accelerating its strategic transformation, focusing on Cyber and Defense Tech growth vectors and productizing its IP. While Civil business faced headwinds, management expects moderation in the second half, with overall guidance reflecting continued investment for future growth and margin expansion.

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BAH operating KPIs by quarter

BAH operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Mar 2026 Q4 FY26	Jun 2026 Q1 FY27	This call Sep 2026 Q2 FY27	Change vs prior quarter
Book-to-bill ratio	0.9 ratio Our book-to-bill was 0.9x for the quarter with a trailing 12-month book-to-bill of 1.1x, including the [ MC TP ] award that is currently under protest, both the quarterly and trailing 12-month book to bills would have been nearly 1.2x. Source: earnings call transcript	1.5 ratio with a book-to-bill of 1.5x. Source: earnings call transcript	1.5 ratio Moving to demand in leading indicators, we had solid bookings during the quarter with a book-to-bill of 1.5x, benefiting from a large classified award in the quarter. Source: earnings call transcript	0%
Backlog	$38B Backlog at the end of fiscal year totaled $38 billion, up about 3% year-over-year. Source: earnings call transcript	$39B+ Total backlog at the end of the first quarter was over $39 billion, up 3% year-over-year. Source: earnings call transcript	<$41B Total backlog at the end of the second quarter was nearly $41 billion, up 2% year-over-year. Source: earnings call transcript	—
Backlog Funded	$4.3B We also saw funding improve in the fourth quarter with our funded backlog increasing sequentially to $4.3 billion. Source: earnings call transcript	$4.7B Importantly, funding showed further signs of improvement in the first quarter with our funded backlog increasing 15% year-over-year to $4.7 billion. Source: earnings call transcript	$5.7B Despite a funding environment that remains choppy, our funded backlog continued to strengthen increasing 5% year-over-year to $5.7 billion. Source: earnings call transcript	+21.3%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.