The following is a summary of the Amentum Holdings, Inc. (AMTM) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Amentum Holdings reported pro forma revenue of $13.9 billion for fiscal year 2024, indicating a 4% organic growth.

• Adjusted EBITDA was $1.05 billion, a 7% increase from the previous year, with a 20-basis-point improvement in margins.

• The fiscal year ended with a $45 billion backlog, which is 3.2 times the annual revenue coverage, showing strong market demand.

Business Progress:

• Amentum finalized a transformative multi-billion dollar merger with Jacobs' Critical Mission Solutions and Cyber and Intelligence units, significantly expanding its service offerings and market presence.

• Secured several major contracts, including a $45 billion IDIQ from the U.S. Department of Energy for the Hanford Integrated Tank Disposition, and positions on new frameworks such as the UK's Hypersonic Technologies and Capabilities Development.

• Introduced two new reportable segments starting fiscal year 2025: Digital Solutions and Global Engineering Solutions, aiming to enhance financial reporting and operational focus.

Opportunities:

• The merger has strategically positioned Amentum to leverage mega trends and customer priorities across a broader scope.

• Opportunities to accelerate international growth, especially through initiatives like AUKUS, benefiting from strong U.S., UK, and Australia presences.

• Expansion in emerging tech markets and digital modernization due to advanced engineering and technology capabilities.

Risks:

• New business makes up only 8% of projected revenues, with over $23 billion of submitted bids awaiting award decision, indicating potential volatility in win rates and future revenue assurance.

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