Grow Your Business and Join MarketWorld Marketplace and Create Your Own Store front

Thursday, November 7, 2024

Grow Your Business and Join MarketWorld Marketplace and Create Your Own Store front

HomeStock MarketScience Applications International beats Q2 estimates, raises FY EPS outlook By Investing.com

Science Applications International beats Q2 estimates, raises FY EPS outlook By Investing.com


RESTON, Va. – Science Applications (NASDAQ:) International Corporation (NASDAQ:SAIC) reported better-than-expected second quarter results and raised its full-year earnings guidance, as the technology integrator saw solid program performance and strong cash flow.

SAIC posted adjusted earnings per share of $2.05 for the quarter ended August 2, beating analyst estimates of $1.86. Revenue rose 2% year-over-year to $1.82 billion, slightly above the consensus forecast of $1.8 billion.

“Our second quarter results were solid, reflecting strong program performance and exceptional cash flow with a continued focus on returning capital to shareholders,” said SAIC CEO Toni Townes-Whitley.

The company’s Defense and Intelligence segment revenue increased 2% to $1.42 billion, while Civilian segment revenue grew 2% to $403 million compared to the prior year quarter.

SAIC generated free cash flow of $241 million in Q2, up 67% YoY. The company repurchased $201 million of shares during the quarter.

Looking ahead, SAIC raised its fiscal 2025 adjusted EPS guidance to $8.10-$8.30, up from its previous outlook of $8.00-$8.20 and above the $8.07 analyst consensus. The company reaffirmed its full-year revenue forecast of $7.35-$7.50 billion.

“We are seeing encouraging trends as we execute our growth strategy,” Townes-Whitley added, noting an expanded pipeline of opportunities that is expected to accelerate growth into fiscal 2026.

SAIC’s total backlog stood at $22.9 billion at the end of Q2, with $4.2 billion of that funded.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.




Source link

Bookmark (0)
Please login to bookmarkClose
RELATED ARTICLES
- Advertisment -spot_img

Most Popular

Sponsored Business

- Advertisment -spot_img