Booz Allen Hamilton raised its annual adjusted-earnings outlook after reporting a 3.9% decline in second-quarter revenue. The 23 October 2026 release shows reported diluted earnings per share of US$1.50, versus US$1.76 on the company’s adjusted basis. Those measures should remain separate when assessing the quarter.
Revenue, profit and the revised outlook
| Measure | Disclosure | Official evidence |
|---|---|---|
| Revenue | US$2.778 billion, down 3.9% year on year. | Source document |
| Net income | US$181 million reported, up 3.4%; US$211 million adjusted, up 15.3%. | Source document |
| Diluted EPS | US$1.50 reported, versus US$1.42; US$1.76 adjusted, versus US$1.49. | Source document |
| Operating cash flow | US$294 million, versus US$421 million. | Source document |
| Annual adjusted-EPS forecast | US$6.50–US$6.70, previously US$6.00–US$6.35. | Source document |
| Annual revenue forecast | US$11.3–US$11.6 billion, previously US$11.2–US$11.7 billion. | Source document |
Why a higher earnings outlook is not higher sales
Revenue records the value of business activity before the full set of expenses. Net income is the profit after costs and tax. Because different costs and accounting adjustments affect profit, an earnings increase can coexist with a sales decline.
Booz Allen’s adjusted measures are non-GAAP: they remove specified items described in the reconciliation. They do not replace the reported accounts. Comparing the adjusted US$1.76 with last year’s reported US$1.42 would mix two different bases; the like-for-like adjusted comparator is US$1.49.
The forecast is still conditional
The new revenue range has a higher lower end and a lower upper end than the previous forecast. It is therefore narrower, not simply an across-the-board increase. The raised adjusted-EPS range is a separate forecast for the entire fiscal year.
The financial summary is unaudited. The linked full report supplies the results and reconciliations used here, but it does not turn the annual outlook into an achieved outcome. Cash generation also deserves attention: the reported quarter’s operating cash flow was below the prior-year figure.
Official evidence and scope
Primary official record and official companion record. The documents are records from the same issuer, not two independent investigations. Latest saved source observation: . This report does not establish a live share-price reaction or an investment return.
Related CapKet coverage: Honeywell’s reported and adjusted earnings distinctions.
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