Science Applications Intl Corp Stock Price, News & Analysis

Science Applications International Corp. (NYSE: SAIC) has appointed Jon Rucker as senior vice president of its Army Business Unit, managing a portfolio worth approximately $1.2 billion annually. Rucker brings extensive experience from previous roles at CACI and Lockheed Martin, focusing on strategy and business development for a diverse range of Army customers. His leadership aims to enhance SAIC's growth and capabilities in the defense sector, leveraging his strong relationships in U.S. federal agencies. Rucker's educational background includes degrees in Aerospace Engineering, Electrical Engineering, and an MBA.

Science Applications International Corp. (SAIC) has secured prime contract positions on the GSA ASTRO multiple-award contracts, being one of only six companies to win all ten contracts. This strategic addition enhances SAIC's portfolio accessible to federal government customers, particularly in supporting manned and unmanned systems for defense. The contracts, with a potential duration of ten years, cover various scopes such as data operations, mission operations, and research, with no defined ceiling value.

SAIC has launched Rugged Apps™, providing secure versions of commercial mobile applications for government customers. This initiative aims to protect against cybersecurity vulnerabilities in popular apps by ensuring NIAP compliance. The first app available is Avenza Maps Pro, designed for advanced geographic information needs. Additionally, SAIC recently held a Rugged Apps Mobile Challenge, awarding $25,000 to the winner, HighSide. This development supports SAIC’s strategy to enhance security solutions for military and federal agencies.

Science Applications International Corp. (SAIC) has secured a $99 million contract from the U.S. Air Force for the WESTAR program to enhance weapon system development. This five-year contract focuses on multi-spectral and multi-modal modeling capabilities, crucial for advancing munitions technology. Since 2000, SAIC has been collaborating with the Air Force Research Laboratory in this domain. The initiative aligns with the Air Force's AF Vision 2030 strategy, emphasizing innovative approaches to complex weapon systems.

SAIC has secured a significant $1.1 billion contract from the U.S. Navy for the production, assembly, testing, and delivery of MK 48 MOD 7 Torpedo Afterbody Tailcones and MK29 Mod 0 Warshot Fuel Tanks. This contract builds on previous collaborations dating back to September 2016, reflecting SAIC's extensive experience with Navy torpedo systems. The new contract includes the integration of over 500 components into each tailcone, enhancing the Navy's operational capabilities.

SAIC reported a 4.4% increase in revenues, reaching $1.9 billion for Q3 FY2022, driven by new contracts and acquisitions. Diluted EPS rose by 20% to $1.22, with adjusted diluted EPS up 14% to $1.85. Cash flow from operations dropped by 42% to $134 million, mainly due to payroll tax impacts. The company raised its FY2022 guidance for revenue, adjusted EBITDA margin, and free cash flow. SAIC’s backlog remains strong at approximately $24 billion, with new contracts enhancing growth prospects.

Science Applications International Corp. (SAIC) announced $348 million in contract awards for Q3 FY2022 from space and intelligence organizations. Noteworthy is the $100 million digital engineering contract for a classified space customer and an initial $46 million IT solutions contract with potential for multi-year growth. These contracts reflect SAIC's strategy to enhance value through integrated solutions. With annual revenues around $7.1 billion, SAIC emphasizes its innovative capabilities in digital engineering, IT modernization, and AI to support national security.

Science Applications International Corp. (SAIC) has been awarded a contract to compete for task orders worth up to $556 million for the Technical Services Support (TSS) 2 Contract aimed at modernizing human resources for the Navy. This five-year contract allows SAIC to provide support in 10 core function categories including IT system support and cybersecurity. The work is expected to be completed by October 2026, with a possible extension to April 2027.