Amentum Holdings, Inc. (AMTM)

Amentum reported third-quarter fiscal 2026 revenue of $3,490 million, down 2 percent from a year earlier, with net income of $66 million 3.

A 3 percent drag came from moving contracts into joint ventures it no longer consolidates and from 2025 sales of businesses, while new digital infrastructure and space work helped 3.

Guidance for fiscal 2026, the company's own expected range, now has revenue at $13,800 million to $13,950 million, down from $13,950 million to $14,300 million 3.

Adjusted EBITDA, a profit measure the company adjusts for some items, is expected at $1,115 million to $1,140 million, up from $1,100 million to $1,140 million 3.

Chief Executive Officer John Heller said strong year-to-date results allowed higher guidance for adjusted EBITDA and adjusted earnings per share, even as near-term dynamics hurt the revenue outlook 3.

On 2 October 2026 the company filed a current report on a new employment agreement for Executive Chair Steven Demetriou 4.

Amentum's own filing traces its heritage to companies founded at the dawn of the twentieth century, including EG&G, Morrison-Knudsen, URS and DynCorp 1.

On 31 January 2020, Amentum Joint Venture LP bought the Management Services business of AECOM and formed Legacy Amentum, which then grew through acquisitions 1.

The public company took shape on 27 September 2024, when Legacy Amentum merged with a spin-off of the Jacobs Critical Mission Solutions business and parts of Jacobs' Divergent Solutions business 1.

Before the merger the spun-off business paid Jacobs a $911 million cash dividend, and Jacobs gave about 80.95% of its shares to Jacobs' own shareholders 1.

Trading on the New York Stock Exchange began on 30 September 2024 under the ticker AMTM 1.

Revenue was $7,865 million in fiscal 2023, $8,388 million in fiscal 2024 and $14,393 million in fiscal 2025 1.

The 71.6 percent jump in fiscal 2025 came mainly from the merger with CMS, while fiscal 2024's 6.6 percent rise came from new contract awards and growth on existing programs 1.

Profit moved from a loss of $314 million in fiscal 2023 and $82 million in fiscal 2024 to net income of $66 million in fiscal 2025 1.

Fiscal 2023 also carried a goodwill impairment charge of $186 million, a write-down of the value of past purchases 1.

On 26 June 2025 the company sold its hardware and product business, Rapid Solutions, to Lockheed Martin Corporation for $360 million in cash 1.

Debt costs fell as the company repaid borrowings: interest expense and other, net was $353 million in fiscal 2025 against $438 million in fiscal 2024, with $722 million of voluntary term loan payments in 2025 1.

Digital Solutions

Digital Solutions provides digital and data-driven work, including intelligence analytics, space system development, cybersecurity and next generation IT 1.

Its fiscal 2025 revenue was $5,543 million, up from $1,981 million, mainly because of the merger with CMS and new contract awards 1.

In the third quarter of fiscal 2026 it brought in $1,457 million, up 3 percent, as new digital infrastructure and space awards ramped up 3.

Global Engineering Solutions

Global Engineering Solutions does large-scale environmental cleanup, nuclear power work, platform engineering, sustainment and supply chain management for the U.S. government and allied nations 1.

Its fiscal 2025 revenue was $8,850 million, and third-quarter fiscal 2026 revenue was $2,033 million, down 5 percent as work moved into unconsolidated joint ventures 13.

Customers, backlog and wins

About 81 percent of fiscal 2025 revenue came from direct contracts with U.S. government agencies, including the Department of Energy, the intelligence community, NASA and the Department of Homeland Security 1.

Backlog, work already contracted but not yet delivered, was $48.2 billion on 3 July 2026, up 8 percent from a year earlier 3.

Recent wins include about $500 million booked for NASA's nine-year COSMOS contract and a $974 million, 10-year NASA Langley contract (CMOE II) 3.

It also booked over $400 million for early design of advanced nuclear technologies 3.

People and rivals

The company has approximately 50,000 employees in over 70 countries 1.

John Heller is Chief Executive Officer and Steven Demetriou is Executive Chair, whose pay was reset in an agreement effective 28 September 2026 34.

Its filing names Booz Allen Hamilton, CACI, KBR, Leidos, Parsons, Peraton and SAIC among its primary competitors 1.

The umbrella, in words

Amentum Holdings, Inc. is the renamed Critical Mission Solutions business, and it reports two segments, Digital Solutions and Global Engineering Solutions 1.

It owns stakes in joint ventures it does not consolidate, carried as equity method investments of $204 million on 3 July 2026 2.

Amentum Equityholder, a private equity affiliated holder under a stockholders agreement, holds a substantial share of the stock and can nominate directors 1.

In its 10-K the company reported 315 leased locations and two owned locations as of 3 October 2025 1.

The company expects fiscal 2026 free cash flow of $525 million to $575 million and adjusted diluted earnings per share of $2.40 to $2.50 3.

The company says it gives no reconciliation of forward-looking adjusted measures to its reported profit because of the inherent difficulty in forecasting certain items 3.

Under the same agreement, term loan A payments are 2.50% of the original amount each year from 30 September 2026 through 30 June 2028 5.

Term loan B payments are 1.00% of the original amount each year until it matures 5.

An April 2026 amendment to the credit agreement set a term loan A that matures on 24 April 2031 and a term loan B that matures on 27 September 2031 5.

The same agreement provides a $1.000 billion revolving facility for general corporate purposes 5.

The 10-K says amortization of intangible assets is expected to be $376 million in fiscal 2026 1.

Mr. Demetriou's employment agreement continues until terminated by the company or by him 4.