SAIC - Science Applications Non-GAAP EPS of $2.14 beats by $0.33 revenue of $2.03B beats by $70M

2023-06-05 07:03:35 ET

• Science Applications press release ( NYSE: SAIC ): Q1 Non-GAAP EPS of $2.14 beats by $0.33 .
• Revenue of $2.03B (+2.0% Y/Y) beats by $70M .
• Revenues for the quarter increased $32 million or 2% compared to the same period in the prior year primarily due to ramp up on existing and new contracts, partially offset by contract completions and $37 million due to the deconsolidation of the Forfeiture Support Associates J.V. ( FSA ).
• Net bookings of $2.1 billion resulting in a book-to-bill of 1.1x in the quarter
• FY24 Guidance:
• Revenue of $7.125B-$7.225B from prior guidance of $7.05B-$7.20B.
• Adjusted Diluted EPS of $7.00-$7.20 from prior guidance of $6.80-$7.00

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