SAIC Clocks Flat Revenue Growth In Q2; Margins Contrac

Loading...
Loading...
  • Science Applications International Corp (NYSE: SAIC) reported a flat revenue growth year-on-year in the second quarter of FY23 to $1.831 billion, marginally beating the consensus of $1.830 billion.
  • Adjusted EPS of $1.75 beat the consensus of $1.69.
  • Adjusted operating margin contracted by 120 bps to 6.8% due to higher indirect costs.
  • Adjusted EBITDA margin contracted 100 bps to 9.1%.
  • SAIC generated $141 million in operating cash flow and held $108 million in cash and equivalents.
  • Net bookings for the quarter were $2.1 billion, reflecting a book-to-bill ratio of 1.1. 
  • Dividend: The company's cash dividend of $0.37 per share will be payable on October 28, 2022, to stockholders of record on October 14, 2022.
  • CEO Nazzic Keene said, "The investments we have made to build differentiated solutions in the areas of Secure Cloud and Systems Integration position us well to gain share in a growing market."
  • FY23 Outlook: SAIC hiked its lower end of revenue and EPS outlook. It sees revenue of $7.50 billion - $7.55 billion (prior view $7.43 billion-$7.55 billion) versus the consensus of $7.51 billion.
  • SAIC sees adjusted EPS guidance of $7.00 - $7.20 (prior view $6.90 -$7.20) versus the consensus of $7.04.
  • Price Action: SAIC shares traded higher by 1.25% at $92.21 on the last check Thursday.
Loading...
Loading...
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceDividendsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...