secwatch.observer — SEC 8-K summary
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Issuer:     Science Applications International Corp (SAIC)
CIK:        0001571123
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0001571123-23-000079
Event type: earnings
Sentiment:  positive
Materiality: 0.82
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1571123/000157112323000079/0001571123-23-000079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1571123/000157112323000079/saic-20230605.htm
  HTML page:      https://secwatch.observer/filing/0001571123-23-000079

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