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Booz Allen’s strong balance sheet protects company during Covid-19
By Devika Patel
Knoxville, Tenn., May 26 – Booz Allen Hamilton Holding Corp. has a strong, well-capitalized balance sheet that is helping the company navigate the uncertainty caused by the Covid-19 pandemic, which did not prevent the company from meeting its fiscal 2020 financial objectives.
“Our operating performance and prudent capital management have resulted in a strong, well-capitalized balance sheet,” executive vice president, treasurer and chief financial officer Lloyd Howell Jr. said on the company’s fourth quarter and year ended March 31 earnings conference call on Tuesday.
“This is particularly useful in these turbulent times as it provides tremendous strategic and operational flexibility,” Howell said.
The company has managed well through the Covid-19 pandemic, meeting all of its financial objectives for the year.
“It is important to underscore that we were able to quickly respond to the challenges of Covid-19 because of our strong financial footing,” president and chief executive officer Horacio D. Rozanski said on the call.
“Fiscal year 2020 was another outstanding year for Booz Allen.
“Once again, we met all of our financial objectives,” Rozanski said.
Adjusted EBITDA was $754 million for the year.
Cash and cash equivalents were $741,901,000 as of March 31, 2020, compared to $283.99 million as of March 31, 2019.
Long-term debt, net of current portion, was $2,007,979,000 as of March 31, 2020, compared to $1,701,837,000 as of March 31, 2019.
Booz Allen is a McLean, Va.-based provider of management and technology consulting services to the U.S. government in the defense, intelligence and civil markets.
© 2015 Prospect News.
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