Science Applications Intl Corp Stock Price, News & Analysis

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.

Science Applications International Corporation (SAIC) will release its third quarter fiscal year 2022 results on December 6, 2021, before the market opens. The management will discuss financial and operational results in a conference call starting at 10:00 a.m. ET. The call will be available via webcast, with no dial-in option. A supplemental presentation will also be accessible to the public. An on-demand audio replay will be available on the SAIC Investor Relations website after the call.

Science Applications International Corp. (SAIC) has been awarded a contract to compete for task orders worth up to $93 million for the U.S. Navy’s Tactical Integrated Threat/Target Training Systems (TTS) program. This five-year, indefinite-delivery / indefinite-quantity contract focuses on research and development, engineering, and sustainment of tactical threat systems to elevate Navy aircrew effectiveness and survivability. The project is expected to be completed by September 2026, enhancing SAIC's long-term engagement with military contracts.

Science Applications International Corp. (SAIC) CEO Nazzic Keene has received the 2021 Technology Good Scout Award from the Boy Scouts of America. The award recognizes her commitment to advancing technology and embodies the Scout values of integrity and trustworthiness. Keene is the first female recipient and will accept the award at a reception in Tysons Corner, Virginia. The NCAC emphasizes the importance of outdoor activities for youth, with over 36,000 scouts participating in adventures promoting physical and mental health.

Science Applications International Corp. (NYSE:SAIC) raised over $385,000 during Hunger Action Month in September, equating to 3.8 million meals for those facing food insecurity in the U.S. Employees contributed more than $205,000 through fundraising activities and donations, marking the highest amount raised in the eight-year partnership with Feeding America. The initiative addresses urgent hunger challenges exacerbated by the COVID-19 pandemic, as 38 million Americans confront food insecurity according to the USDA.

Science Applications International Corp. (NYSE: SAIC) has appointed Vernon Saunders as senior vice president of its National Intelligence Community Business Unit. He brings significant experience from roles at prominent organizations like Huntington Ingalls and Jacobs National Security Solutions. Reporting to Michael LaRouche, Saunders aims to enhance SAIC's capabilities in cloud, application security, data analytics, digital engineering, and digital transformation. With SAIC’s 50-year history in the intelligence sector, this leadership change is expected to strengthen their position in the market.