Welcome to our dedicated page for Science Applications Intl news (Ticker: SAIC), a resource for investors and traders seeking the latest updates and insights on Science Applications Intl stock.
Science Applications International Corporation (SAIC) (NASDAQ: SAIC) is a Fortune 500 mission integrator and technology company serving defense, space, intelligence, and civilian customers. This news page aggregates company announcements, contract awards, earnings updates, and strategic developments that shape the SAIC stock story.
Recent SAIC news highlights include major U.S. government contracts and organizational changes. The company has reported awards such as the COBRA (Collaborative Operations for Battlespace Resilient Architecture) task order supporting multi-domain command and control, and a contract from the Naval Undersea Warfare Center to operate, maintain, and upgrade propulsion test facilities for undersea weapons and vehicles. SAIC has also announced collaborations, such as its partnership with HavocAI to connect autonomous maritime fleets to joint command and control infrastructure using its Joint Range Extension system.
Investors and observers can follow SAIC’s quarterly earnings releases, where the company reports revenues, margins, bookings, backlog, and cash flow metrics, along with commentary on program performance and capital deployment, including share repurchases and dividends. News items also cover leadership changes, including the appointment of an interim Chief Executive Officer and a Chief Growth Officer, and organizational restructuring intended to simplify the company’s structure and sharpen its focus on growth and shareholder value creation.
Additional coverage includes announcements about acquisitions, such as the agreement to acquire SilverEdge Government Solutions to expand mission-focused, IP-based solutions and commercial products for national security missions. By reviewing this news feed, readers can track how SAIC’s mission IT, enterprise IT, engineering services, and professional services evolve across defense, space, civilian, and intelligence markets over time.
SAIC has announced its ongoing partnership with Building Homes for Heroes (BHH) since 2013, donating 13 mortgage-free homes to veterans and raising over $500,000. This year, SAIC is honored to support three new veteran recipients: U.S. Army Sergeant Alberto Montrond, Air Force Technical Sergeant Rahmeka Hopkins, and Navy Petty Officer Second Class Anthony Thompson. Employee volunteers actively participate in the initiative, contributing both time and funds.
SAIC emphasizes its commitment to veterans through these efforts, reinforcing its identity as a technology integrator with annual revenues of approximately $7.7 billion and a workforce of around 25,000 employees.
Science Applications International Corp (SAIC) is hosting a live discussion on energy and climate policy, coinciding with Earth Day. The event will feature Steve Ambrose, SAIC's chief climate scientist, and Pari Kasotia, senior director at Distributed Solar Development (DSD) Renewables. Key discussion topics include:
- Cost and incentives for renewable energy
- Government actions towards wind and solar energy
- The Biden Administration's Net Zero by 2050 goal
- Environmental justice in climate legislation
This initiative reflects SAIC's commitment to addressing the impacts of climate change and aligns with the broader national dialogue on renewable energy solutions.
Science Applications International Corp. (NYSE: SAIC) has secured a $102.5 million contract from the U.S. Navy to enhance its support for the MK 48 Mod 7 Heavyweight Torpedo program. This contract builds on a previous $1.1 billion production contract, illustrating SAIC's long-term involvement in defense initiatives. Under this new agreement, SAIC will produce and deliver components including the MK 48 Mod 7 Torpedo Afterbody Tailcones and MK29 Mod 0 Warshot Fuel Tanks to the U.S. Navy and foreign partners via Foreign Military Sales (FMS) programs. The firm also provides facilities and resources necessary for testing and delivery. With an annual revenue of approximately $7.7 billion and a workforce of 25,000, SAIC continues to solidify its role as a key technology integrator for the defense sector.
Science Applications International Corporation (SAIC) reported Q4 FY2023 revenues of $1.97 billion, reflecting a 10% increase year-over-year, while FY2023 revenues reached $7.70 billion, up 4% from the prior year. SAIC achieved Q4 diluted earnings per share of $1.34, a 76% increase compared to last year. Operating cash flow for FY2023 was $532 million, with free cash flow of $457 million, exceeding prior guidance. Updated FY2024 guidance anticipates $7.05B - $7.20B in revenue with a ~3% pro-forma organic growth. The company plans to divest its Logistics & Supply Chain Management business for $350 million to optimize its portfolio.
Science Applications International Corp. (NYSE:SAIC) has declared a cash dividend of $0.37 per share of common stock, payable on April 28, 2023, to stockholders of record as of April 14, 2023. The company plans to maintain quarterly dividend payments, contingent upon board approval, earnings, and financial conditions. With annual revenues of approximately $7.4 billion, SAIC continues to lead in technology integration across various sectors, including defense and intelligence.
Science Applications International Corp. (SAIC) has appointed Barbara Graham as the senior vice president of its Navy Business Unit. She will lead strategy, business development, and program excellence for SAIC's $1 billion portfolio serving U.S. Navy and Marine Corps clients. Graham brings extensive experience from her prior leadership roles at GDIT, CACI, and BAE Systems. Bob Genter, president of SAIC's Defense and Civilian Sector, expressed confidence in Graham's ability to drive growth and develop talent. With approximately $7.4 billion in annual revenue, SAIC remains a prominent technology integrator in defense and intelligence markets.
Science Applications International Corp. (NYSE:SAIC) has announced the sale of its logistics and supply chain management business to ASRC Federal for $350 million in cash. The transaction is expected to close in the first half of fiscal year 2024, pending regulatory approvals. CEO Nazzic Keene stated that this sale aligns with SAIC's strategy to streamline its portfolio and focus resources on growth areas such as Secure Cloud, Enterprise IT, and Systems Integration, which now represent over 30% of the company's revenue. Approximately 240 employees will transition to ASRC Federal along with the business.
ASRC Federal announced its acquisition of the logistics and supply chain management business from Science Applications International Corporation (SAIC) on March 23, 2023. This strategic move will enhance ASRC Federal's capabilities in providing secure and technology-enabled logistics solutions to the Defense Logistics Agency (DLA), serving various Department of Defense agencies. The acquisition is expected to close in Spring 2023, pending customary conditions, and will add around 240 professionals to ASRC Federal's workforce. This aligns with ASRC's mission to diversify its service offerings and support military readiness.
Science Applications International Corp. (SAIC) will release its fourth quarter and full fiscal year 2023 results on
Science Applications International Corp. (SAIC) has announced a strategic investment of
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