Q1 2026 Amentum Holdings Inc Earnings Call Transcript
Key Points
- Amentum Holdings Inc (AMTM) reported a revenue of $3.2 billion, reflecting a normalized growth of 3% despite challenges.
- The company achieved an adjusted EBITDA of $263 million with robust margins of 8.1%, showcasing strong financial performance.
- Amentum Holdings Inc (AMTM) secured $3.3 billion in net bookings, resulting in a book-to-bill ratio of 1x for the quarter and 1.1x for the last 12 months.
- The company has a strong backlog of over $47 billion, with $23 billion in proposals awaiting award, indicating a healthy pipeline.
- Amentum Holdings Inc (AMTM) made significant progress in the nuclear energy sector, securing nearly $1 billion in awards in the first quarter alone.
- The longest government shutdown in history impacted the company's performance in the quarter.
- First quarter free cash flow was negatively impacted by temporary collections timing from the government shutdown and holiday closures, resulting in a use of $142 million.
- The company faces challenges with $2 billion in new business awards currently under protest or awaiting corrective action.
- Amentum Holdings Inc (AMTM) has a high dependency on government contracts, which are subject to administrative delays and protests.
- The company's growth in the US nuclear market is still in early stages and may take a few more quarters to see tangible progress.
Good morning, ladies and gentlemen, and welcome to the Amentum Q1 fiscal year 2026 results conference call. (Operator Instructions) This call is being recorded on Tuesday, February 10, 2026. I would now like to turn the conference over to Nathan Rutledge.
Thank you, and good morning, everyone. We hope you've had an opportunity to read our earnings release, which we issued yesterday afternoon and is posted on our Investor Relations website. We have also provided presentation slides to facilitate today's call.
So let's go to slide 2. Please note that this morning's discussion will contain forward-looking statements that are subject to important factors that could cause actual results to differ materially or anticipated. I refer you to our SEC filings for a discussion of these factors, including the Risk Factors section of our annual report on Form 10-K. The statements represent our views as of today, and subsequent events may cause our views to change. We may
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