SAIC Q1 revenue $2.03B (+2% YoY), EPS $1.79 ($2.14 adj); raises FY2024 guidance, CEO transition to Townes-Whitley

Science Applications International Corp

2024-Q1 EPS reported $1.79 revenue$2,028,000,000

Net income $98M, diluted EPS $1.79 (adjusted $2.14); revenue $2.03B (+2% YoY, +3.5% adj for FSA deconsolidation).
Adjusted EBITDA margin 9.3% (up 60 bps YoY); free cash flow $76M; net bookings $2.1B, book-to-bill 1.1x.
Raises FY2024 revenue guidance to $7.125-$7.225B (prev $7.05-$7.20B) and adj EPS to $7.00-$7.20 (prev $6.80-$7.00).
CEO Nazzic Keene to retire Oct 2; succeeded by Toni Townes-Whitley; L&SCM business sold for $355M to ASRC Federal.
Declared $0.37/share dividend; $70M share repurchases; invested $5M in Morpheus Data for cloud automation.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Science Applications International Corp reported first quarter ended May 5, 2023 results: revenue $2.03 billion, net income $98 million, EPS $1.79. Guidance raised.

Period: first quarter ended May 5, 2023
Revenue: $2.03 billion
Net income: $98 million
EPS: $1.79
Guidance: raised
Result: reported results

Exact text from the filing

SAIC Announces First Quarter of Fiscal Year 2024 Results • Revenues of $2.03 billion; 2% revenue growth, 3.5% growth adjusted for impact of deconsolidation of Forfeiture Support Associates joint venture • Net income of $98 million; Adjusted EBITDA (1) of $189 million or 9.3% as a % of revenues • Diluted earnings per share: $1.79; Adjusted diluted earnings per share (1) : $2.14 • Net bookings of $2.1 billion resulting in a book-to-bill of 1.1x in the quarter • Company increases revenue and adjusted diluted EPS (1) guidance for fiscal year 2024

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20 earnings releases filed in the last 30 days. Browse all earnings releases →

Science Applications International Corp filing history →

Source: SEC EDGAR

accession 0001571123-23-000079

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