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RESTON, Va. - Science Applications International Corporation (NASDAQ:SAIC) reported first quarter earnings that missed analyst expectations, despite revenue meeting estimates.
SAIC shares were down 6.53% in pre-market trading following the earnings release.
The technology integrator reported adjusted earnings per share of $1.92 for the quarter ended May 2, falling short of the $2.16 consensus estimate. Revenue came in at $1.88 billion, in line with analyst projections.
SAIC’s net income declined 12% YoY to $68 million, while adjusted EBITDA fell 5% to $157 million. The company cited "timing and volume mix" in its contract portfolio as impacting profitability.
"Our performance in the first quarter reflects the steady progress we are making against our enterprise growth strategy despite a still dynamic operating environment," said CEO Toni Townes-Whitley.
For fiscal 2026, SAIC reaffirmed its outlook, projecting revenue of $7.6-$7.75 billion and adjusted EPS of $9.10-$9.30. The midpoint of both ranges aligns closely with current analyst consensus.
The company reported $2.4 billion in net bookings for Q1, representing a book-to-bill ratio of 1.3. Total (EPA:TTEF) backlog stood at $22.3 billion at quarter-end.
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