Results
Revenues of $3.5 billion
Net Income of $66 million; Adjusted EBITDA of $290 million
Diluted Earnings Per Share of $0.27; Adjusted Diluted Earnings Per Share of $0.67
Operating Cash Flow of $146 million; Free Cash Flow of $135 million
Backlog of $48.2 billion; Book-to-Bill of 1.1x, Last Twelve Months 1.3x
CHANTILLY, VA., August 10, 2026 — Amentum Holdings, Inc. (“Amentum” or the “Company”) (NYSE: AMTM), a leading advanced engineering and technology company, today announced results for the third quarter ended July 3, 2026.
Management commentary
“We delivered solid third quarter results with strong operating performance, profitability, and free cash flow," said Amentum Chief Executive Officer John Heller.
1“Although near-term dynamics have impacted our revenue outlook, our strong year-to-date results allow us to increase guidance for both Adjusted EBITDA and Adjusted Diluted EPS.Guidance raised
Looking ahead, we’ve made significant progress executing our strategy and our leading business development indicators remain robust including recently announced key wins and partnerships in global nuclear energy.
We remain focused on delivering differentiated solutions to our customers and driving long-term value for our shareholders.”
Results
GAAP Results
5Revenues of $3,490 million decreased 2% year-over-year driven by a 3% impact from the transition of certain contracts from consolidated to unconsolidated joint ventures and fiscal year 2025 divestitures; partially offset by the ramp-up of new contract awards in critical digital infrastructure and space systems and technologies.
Operating income increased as a result of strong operational performance and decreased intangible amortization expense.
Net income and diluted earnings per share improved year-over-year, supported by higher operating income and lower interest expense.
Non-GAAP Results
7Adjusted EBITDA of $290 million resulted in Adjusted EBITDA Margins of 8.3%, up from 7.7% in the prior year quarter, driven by continued progress on our margin expansion initiatives including a favorable mix shift and strong operational performance.
Adjusted Net Income and Adjusted Diluted Earnings Per Share increased primarily as a result of the strong operational performance and lower interest expense.
Non-GAAP Segment Results
Digital Solutions revenues increased 3% year-over-year driven by the ramp-up of new contract awards in critical digital infrastructure and space systems and technologies, partially offset by the fiscal year 2025 divestiture of Rapid Solutions.
6Adjusted EBITDA increased 2% year-over-year as a result of increased revenue volume, partially offset by the divestiture of Rapid Solutions.
Global Engineering Solutions revenues decreased 5% year-over-year due to contract transitions from consolidated to unconsolidated joint ventures, a fiscal year 2025 divestiture, and the expected ramp-down of other historical programs; partially offset by the ramp up of new contract awards.
Adjusted EBITDA increased 9% year-over-year as a result of continued progress on our margin expansion initiatives, favorable contract mix, and strong program performance.
Cash Flow Summary
In the third quarter, Amentum generated $146 million and $3 million of net cash from operating activities and investing activities, respectively, and used $121 million in financing activities.
Net cash provided by operating activities was driven by strong cash earnings, disciplined working capital management, and reflects one additional pay cycle compared to the prior year quarter.
Net cash provided by investing activities included $11 million in capital expenditures and $10 million in cash proceeds from the sale of a minority stake in a legacy joint venture.
Net cash used in financing activities consisted primarily of the $125 million voluntary principal payment on the Term Loan B and the impacts from the first amendment to the credit facility.
As of July 3, 2026, Amentum had $459 million in cash and cash equivalents and $3,875 million of gross debt.
Backlog and Contract Awards
8As of July 3, 2026, the Company had total backlog of $48.2 billion, compared with $44.6 billion as of June 27, 2025, an increase of 8% driven by $17.7 billion in net bookings and 1.3x book-to-bill.
2Funded backlog as of July 3, 2026 was $6.2 billion, compared with $5.6 billion as of June 27, 2025, an increase of 10%.
Notable Highlights
Global Nuclear Energy – Amentum booked over $400 million for the initial engineering, development, and design of advanced nuclear technologies in the growing global nuclear market.
These awards support our long-term growth opportunity in next-generation nuclear.
Corporate events
4Continued Growth in Critical Digital Infrastructure – Amentum was awarded approximately $250 million in contracts to support communication networks, cloud and data center infrastructure, and critical technology modernization.
These wins build on Amentum’s core strengths in delivering integrated, large-scale digital infrastructure across both commercial and government markets.
Classified U.S. and International Defense Awards – Amentum was awarded over $1 billion in awards to provide defense engineering, logistics, and modernization solutions for U.S. and allied military operations.
These awards reinforce Amentum’s position as a trusted partner supporting global defense readiness and mission sustainment.
Contract for Organizing Spaceflight Mission Operations and Systems (COSMOS) – Amentum booked ~$500 million associated with NASA's award of the nine-year COSMOS contract to our mentor-protégé joint venture, to support flight mission operations.
The previously announced protest was resolved during the quarter and therefore the award is now reflected in backlog and book-to-bill.
3Center Maintenance Operations and Engineering (CMOE II) – NASA’s Langley Research Center awarded Amentum a $974 million, 10-year IDIQ contract to deliver cutting-edge support for advanced research, systems engineering, and infrastructure modernization.
The previously announced protest was resolved during the quarter and therefore the award is now reflected in backlog and book-to-bill.
Outlook
Fiscal Year 2026 Guidance
Amentum updates its fiscal year 2026 guidance as follows:
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