Revenue fell 4.2% year over year to $2.80 billion, missing the $2.82 billion estimate.The stock’s gain appeared to reflect the earnings beat, 130-basis-point margin expansion, stronger cash generation and 3.2% backlog growth despite lower revenue.Earnings, Margins, Revenue And Backlog
GAAP diluted EPS declined 24.5% to $1.63, while net income fell 26.9% to $198 million. Adjusted net income rose 17.9% to $217 million.
Adjusted EBITDA increased 7.4% to $334 million, and adjusted EBITDA margin expanded 130 basis points to 11.9%. The company cited strong contract execution and favorable investment-spending timing.
Revenue declined primarily because slowed procurement reduced headcount and billable expenses.
National Security revenue increased to $2.03 billion from $2.00 billion, while Civil and Commercial revenue fell to $772 million from $923 million. Total headcount declined to 30,900 from 33,400.
