SAIC - Science Applications EPS beats by $0.39 beats on revenue; raises full year guidance

Science Applications (NYSE:SAIC): Q3 Non-GAAP EPS of $1.85 beats by $0.39; GAAP EPS of $1.22 beats by $0.26. Revenue of $1.9B (+4.4% Y/Y) beats by $20M. Press Release Adjusted EBITDA as a percentage of revenues for the quarter of 9.0% remained consistent with the same period in the prior year.  Net bookings for the quarter were ~$1.4B, which reflects a book-to-bill ratio of 0.7 and a trailing twelve months book-to-bill ratio of 1.1. SAIC’s estimated backlog at the end of the quarter was ~$24 B. Of the total backlog amount, ~$3.4B was funded. Raises FY 2022 Guidance: Revenue now expected to range between $7.35 billion - $7.40 billion  up from (prior $7.30 billion - $7.40 billion) vs. consensus of $7.39B; Adjusted EBITDA Margin of 9.0% to 9.1% (prior 8.9% to 9.0%); Free cash flow of $450 million - $470 million (prior $430 million to $470 million); and Non-GAAP EPS of $6.75 - $6.95 (prior $6.50 - $6.70) vs. consensus

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Science Applications EPS beats by $0.39, beats on revenue; raises full year guidance