Booz Allen added 2,700 jobs last year, quarterly profits quadrupled

McLean, Virginia-based government consultant Booz Allen Hamilton reported quarterly profits that more than quadrupled from a year ago in congruence with a growing demand from the Defense Department and other government agencies for its consulting services.

The company also continued to add thousands of consultants and other employees to its payroll.

Booz Allen had a fiscal third quarter net income of $146.6 million, up from $31 million in the same quarter a year ago. It had a fiscal third quarter revenue of almost $2.6 billion, up 12.9%.

Booz Allen ended the year with almost 34,000 employees globally, adding 2,700 jobs to its total head count in 2023, or an increase of 8.6%. About 700 of those new jobs were added in the final quarter of the year.

Booz Allen is one of the largest employers in the D.C. region, and the largest government IT contractor, with approximately 14,000 consultants and other employees. It is one of the five largest publicly traded companies in the D.C. region.

The company also raised its guidance for revenue in 2024, now forecasting revenue growth of as much as 15%. It ended the quarter with a backlog of $34.3 billion in contracted work.