Amentum (AMTM) Q4 Results: Revenue Down 5.2%,Margins Expand Amid Contract and Shutdown Pressures

Amentum Holdings (NYSE:AMTM) reported Q4 CY2025 revenue of $3.24 billion, down 5.2% year-on-year and 0.5% below the midpoint of its full-year guidance of $14.13 billion. Non-GAAP profit of $0.54 per share beat estimates by 4.4%. The decline followed a protracted U.S. government shutdown and contract transitions, with CEO John Heller noting the “longest government shutdown in history” as a headwind. The company attributes margin expansion to higher-margin contract prioritization and disciplined cost control, despite a challenging revenue environment. Looking ahead, Amentum remains focused on nuclear energy, space systems, and digital infrastructure, with management confident in sequential revenue improvement as government operations normalize. CFO Travis Johnson emphasized a strong backlog and cash-flow rebound as key drivers. Key risks include funding delays and award timing in high-priority contracts. Amentum trades at $31.70, down from $36.59. The company’s performance highlights execution in growth areas and its ability to manage margins amid macro disruptions.