SAIC Earned $1.88 per Share for Q1

This morning, Science Applications International (SAIC) said it made $1.88 per share for its fiscal Q1. That was 11 cents higher than expectations. Quarterly revenues rose 6% to $2 billion. The number of shares actually decreased to 56.6 million from 58.7 million last year.

The company increased the current buyback program by 8 million shares for a grand total of 8.8 million shares. That’s about one-sixth of all outstanding shares.

SAIC is also raising both ends of its fiscal-year guidance by 10 cents per share to a range of $6.90 to $7.20 per share. They’re also increasing the low end of their revenue guidance by $80 million to a range of $7.43 billion to $7.55 billion. At the end of the quarter, SAIC estimated its backlog at $24.1 billion.

Posted by on June 6th, 2022 at 7:18 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.