SAIC Beats and Raises Guidance, Stock Jumps to New High

This morning, Science Applications International (SAIC) reported fiscal Q3 earnings of $1.90 per share. That beat Wall Street’s forecast of $1.74 per share. The number of shares decreased to 55.5 million from 58.0 million in last year’s Q3. Revenues grew 1% to $1.91 billion.

Net bookings for the quarter were approximately $2.0 billion, which reflects a book-to-bill ratio of 1.1 and a trailing twelve months book-to-bill ratio of 1.1. SAIC’s estimated backlog at the end of the quarter was approximately $24.4 billion. Of the total backlog amount, approximately $4.0 billion was funded.

SAIC raised the low end of its full-year guidance by five cents per share. The company now sees 2023 earnings ranging between $7.05 and $7.20 per share. The shares are currently up about 5% today.

Posted by on December 5th, 2022 at 11:35 am


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