Amentum's third quarter 2026 adjusted EPS beat while total backlog climbed to $48.2 billion

Amentum reported third quarter 2026 results featuring an adjusted EPS beat and robust contract win momentum despite a slight revenue decline. The company raised its full-year profitability guidance for Adjusted EBITDA and Adjusted Diluted EPS, citing strong operational performance and a 60 basis point expansion in Adjusted EBITDA margins to 8.3%.

Key Highlights

• Total backlog increased 8% year-over-year to $48.2 billion, driven by $17.7 billion in net bookings during the quarter.
• The book-to-bill ratio remained healthy at 1.1x for the quarter and 1.3x for the last twelve months.
• Revenue of $3.49 billion decreased 2% year-over-year, impacted by contract transitions to unconsolidated joint ventures and divestitures of the Rapid Solutions business.
• Major contract awards included over $1 billion for classified defense programs and a $974 million, 10-year NASA CMOE II award for infrastructure modernization.
• Free cash flow reached $135 million for the quarter, supported by disciplined working capital management and strong cash earnings.