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MarketScreener Homepage  >  Equities  >  Nyse  >  Booz Allen Hamilton Holding Corporation    BAH

BOOZ ALLEN HAMILTON HOLDING CORPORATION

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Booz Allen Hamilton : LAUNCHES $100M+ PANDEMIC RESILIENCE PROGRAM

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04/02/2020 | 08:33am EDT

Booz Allen Hamilton today announced a pandemic resilience program of more than $100 million to support its 27,000 employees and the communities where they live and work.

The program includes major benefit program enhancements to support employees dealing with health, childcare, and COVID-related issues; a pledge of job security at least through July 1 and a commitment to provide funding, assistance, and technology expertise to aid vulnerable populations, military families, veterans and frontline healthcare workers.

These initiatives will be financed by reprioritizing planned spending and investment and will help to enable employees to continue to work with government and commercial clients as they face unprecedented challenges. The firm supports the critical missions of clients globally, working closely with the U.S. government and commercial enterprises during this unique time of crisis, including programs directly related to COVID-19 recovery.

'These moves will help protect the health and financial security of our people, their loved ones and their communities during a very uncertain, difficult time,' said Horacio Rozanski, Booz Allen's President and CEO. 'Supporting our people empowers them to fully support our clients in this time of critical need. Our business is our people, and this is just the right thing to do.'

The company will redirect $100 million by reallocating its budget to provide employment security and additional benefits, including major enhancements to its dependent-care program, flexible work, training and other options to address employee challenges at home, including support for public service by employees who are trained and certified such as firefighters or nurses. The budget reallocation includes items such as the elimination of many events and a variety of other overhead expenses, as well as a hiring freeze in non-billable departments.

The firm and the independent Booz Allen Foundation also launched a coordinated philanthropic initiative this week to address pandemic-related causes. The initial giving will support veterans and military families through the COVID-19 Military Support Initiative, assist frontline healthcare workers and vulnerable communities through the CDC Foundation, and address the immediate needs of vulnerable local populations through the Feeding America network of food banks and community-based agencies. The Foundation is expected to announce additional recipients for its funding at a later time. The funds for Feeding America will support national efforts and also be distributed to the front lines in areas highly impacted by the COVID-19 virus where the firm has a significant presence.

Throughout the coming year, Booz Allen plans to contribute its technology and consulting expertise to combat the effects of the virus, pledging to contribute pro-bono projects, in-kind contributions and volunteer time to organizations and communities helping the neediest on the front lines. The company will provide strategic planning, digital modernization, analytics and cyber capabilities, among other services.

About Booz Allen

For more than 100 years, business, government, and military leaders have turned to Booz Allen Hamilton to solve their most complex problems. As a consulting firm with experts in analytics, digital, engineering and cyber, we help organizations transform. We are a key partner on some of the most innovative programs for governments worldwide and trusted by the most sensitive agencies. We work shoulder to shoulder with clients, using a mission-first approach to choose the right strategy and technology to help them realize their vision. With global headquarters in McLean, Virginia, our firm employs nearly 27,000 people globally, and had revenue of $6.70 billion for the 12 months ended March 31, 2019.

Contact:

Tel: +961 1 953500

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 8 067 M - -
Net income 2021 501 M - -
Net Debt 2021 1 644 M - -
P/E ratio 2021 23,2x
Yield 2021 1,53%
Capitalization 11 608 M 11 608 M -
EV / Sales 2021 1,64x
EV / Sales 2022 1,53x
Nbr of Employees 27 400
Free-Float 83,9%
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 87,58 $
Last Close Price 84,24 $
Spread / Highest target 12,8%
Spread / Average Target 3,97%
Spread / Lowest Target -5,03%
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Managers
NameTitle
Horacio D. Rozanski President, Chief Executive Officer & Director
Ralph W. Shrader Chairman
Lloyd W. Howell Chief Financial Officer, Treasurer & Executive VP
Joseph W. Mahaffee Chief Administrative Officer & Executive VP
Peter J. Clare Independent Director
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