What you need to know
- Shares of Amentum Holdings sank Tuesday when executives said in the company's earnings call that they see fiscal 2025 growth being affected by an expected winding down of certain government programs.
- Revenues increased and the government technology company turned a profit in its fourth quarter, compared to last year’s loss.
- Amentum has begun trading following its separation from Jacobs Solutions, an engineering and construction firm.
Amentum Holdings, Inc. (AMTM), swung into a fourth-quarter gain but the shares fell Tuesday as executives revealed in a conference call with investors that a slowdown expected of government programs could affect fiscal 2025’s growth.
Government technology provider, reported earnings per share of $0.28 in the fourth quarter of 2018, compared to a loss per share of $0.07 a year earlier. The company’s revenue grew 3.5% on an annual basis to $2.21billion. It confirmed its guidance for the full year and estimated a adjusted EPS of between $2.00 and $2.20 in fiscal 2025.
On the earnings call, Travis Johnson, CFO of the company, said that “Growth driven by new program awards … is expected to be partially offset by the wind down of certain historical programs,” AlphaSense provided a transcription.
Amentum Recently Joined S&P 500 But Is Moving to SmallCap 600 Next Week
Amentum joined the S&P 500 Index on Sept. 30 after it was spun off from engineering and construction company Jacobs Solutions (J) following its merger with the latter’s Critical Mission Solutions and Cyber and Intelligence businesses. However, that was short-lived, as S&P Dow Jones Indices announced earlier this month that Amentum would be removed from the index and placed in the S&P SmallCap 600 Index, effective Dec. 23.
Amentum Holdings’ shares have dropped 28% since that time.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.