Science Applications International Corp reveals quarterly results for January period

Science Applications International Corp reveals quarterly results for January period

Science Applications International Corp (SAIC) reported quarterly adjusted earnings of $1.43 per share for the quarter ended in January, which was lower than the same quarter last year when the company reported EPS of $2.04. Analysts had a mean expectation of $1.46 per share for the quarter, with Wall Street expecting results to range from $1.33 to $1.65 per share.

Revenue for the quarter fell by 11.7% to $1.74 billion from a year ago, although analysts had expected revenue to be $1.64 billion. SAIC reported quarterly net income of $39 million, with reported EPS for the quarter being 74 cents. Despite this, SAIC shares had risen by 14.7% during the quarter.

Analysts had revised the mean earnings estimate by about 2.2% in the last three months, with no negative revisions in the last 30 days. The current average analyst rating on the shares is “hold,” with 1 “strong buy” or “buy”, 8 “hold”, and 1 “sell” or “strong sell” recommendation. The average consensus recommendation for the IT services & consulting peer group is also “hold.”

Wall Street’s median 12-month price target for Science Applications International Corp is $138.00. This information was generated from LSEG data on March 18 at 01:30 p.m. UTC. All figures are in US dollars unless otherwise stated. For further questions regarding the data in this report, please contact Estimates.Support@lseg.com, and for any other inquiries or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

Looking at the historical performance, SAIC missed earnings estimates in the quarter ending January 31, 2024, with $1.43 actual earnings compared to the estimated $1.46. In the previous quarters, SAIC beat earnings estimates for the quarters ending October 31, 2023, July 31, 2023, and April 30, 2023 with actual earnings surpassing the estimates.

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