Earnings rose at Amentum, Chantilly, Va., in its second quarter, which the government contractor partly attributed Wednesday to demand for nuclear work and divestiture of a non-core asset.
Net earnings for the second quarter ended March 28 were $4 million, or $0.02 a share, up from a loss of $41 million or $0.46 a share, in the year-ago quarter. Quarterly revenue was $3.5 billion, up year-over-year from $2.1 billion.
That’s according to the financial results press release issued early Wednesday morning by Amentum.
Quarterly segment operating income for the Global Engineering Solutions segment, where Amentum oversees much of its Department of Energy and Department of Defense-related work, was $161 million up from $160 million a year ago. Segment revenue was $2.15 billion, down from $2.17 billion in the year-ago period.
“Our performance, combined with our recently announced divestiture of Rapid Solutions, highlights the strength of our business as a premier pure-play advanced engineering and technology solutions company and enhances our financial flexibility,” Amentum CEO John Heller said in the earnings release.
Amentum announced last month it is selling Rapid Solutions, a maker of national defense products to Lockheed Martin for $360 million in cash.
The Virginia-based Amentum also made a splash in the international power market in March when it was selected as program and project management delivery partner for Sizewell C, a new nuclear power station.
During its earnings call, Amentum officials also touted the company being partners in joint ventures in two key DOE Office of Environmental Management contracts. One is for management of liquid waste at the Hanford Site in Washington state. The other is for continued nuclear cleanup at the West Valley Demonstration Project in New York state.
Amentum, which had been privately-held, in September 2024 completed its merger with the government contracting and cyber intelligence arms of Dallas-based Jacobs.
A link to playback of the earnings call, and the company’s financial presentation can be found on Amentum’s investor relations website.
NEW: Via public records request, I’ve been able to confirm reporting today that a warrant has been issued for DOE deputy asst. secretary of spent fuel and waste disposition Sam Brinton for another luggage theft, this time at Las Vegas’s Harry Reid airport. (cc: @EMPublications)
DOE spent fuel lead Brinton accused of second luggage theft.
by @BenjaminSWeiss, confirming today's reports with warrant from Las Vegas Metro PD.
Waste has been Emplaced! 🚮
We have finally begun emplacing defense-related transuranic (TRU) waste in Panel 8 of #WIPP.
Read more about the waste emplacement here: https://wipp.energy.gov/wipp_news_20221123-2.asp
Editorial: Sam Brinton’s credibility is now an issue 🔓