Government engineering solutions provider Amentum Holdings (NYSE:AMTM) will be announcing earnings results tomorrow afternoon. Here’s what you need to know.
Amentum beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $3.42 billion, up 2.3% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EPS estimates.
Is Amentum a buy or sell going into earnings? Read our full analysis here, it’s free .
This quarter, analysts are expecting Amentum’s revenue to be flat year on year at $3.42 billion, slowing from the 6.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.47 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amentum has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time since going public by 3.3% on average.
Looking at Amentum’s peers in the professional services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. NV5 Global delivered year-on-year revenue growth of 10.1%, beating analysts’ expectations by 2.4%, and ICF International reported a revenue decline of 1.4%, in line with consensus estimates. NV5 Global traded up 1.5% following the results while ICF International was down 6.3%.
Read our full analysis of NV5 Global’s results here and ICF International’s results here .
There has been positive sentiment among investors in the professional services segment, with share prices up 11.7% on average over the last month. Amentum is up 28.9% during the same time and is heading into earnings with an average analyst price target of $24.29 (compared to the current share price of $21.86).
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