UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 2, 2024 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number 001-35832 Science Applications International Corporation (Exact name of registrant as specified in its charter) Delawar ...

Financial Data and Key Metrics Changes - The company reported second quarter organic revenue growth of 2% year-over-year, with adjusted EBITDA of $170 million and a margin of 9.4% [7][8] - Adjusted diluted earnings per share increased to $2.05, benefiting from a lower effective tax rate of approximately 19.5% and a 5% year-over-year reduction in the weighted average share count [7][8] - Free cash flow for the second quarter was $241 million, contributing to a total of $262 million for the first half, representing over 50% of the full year guidance [8][16] Business Line Data and Key Metrics Changes - The company is focusing on increasing submissions in the Civilian market and within Enterprise and Mission IT, which are expected to drive outsized growth [10][11] - Net bookings for the quarter were $1.2 billion, resulting in a book-to-bill ratio of 0.6x for the quarter and 1.1x on a trailing 12-month basis [13] Market Data and Key Metrics Changes - The company is experiencing a headwind of approximately 5% from recompete pressures, which is expected to ease going into fiscal year 2026 [15][39] - The company anticipates that the political environment will not significantly impact its Civilian and Defense portfolios due to bipartisan support for key agencies [20][21] Company Strategy and Development Direction - The company has implemented an enterprise operating model designed to optimize investment planning and align its pipeline with growth vectors, focusing on four pivots: portfolio, go-to-market, culture, and brand [9] - The strategy aims to increase the total value of submissions, improve the quality of bids, and drive bookings and backlog growth, with expectations for a book-to-bill ratio of 1.2x by the first half of fiscal year 2026 [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the guidance for fiscal year 2025 and sustaining momentum into fiscal year 2026, despite some revenue challenges in the second half of the year [8][15] - The company is optimistic about its ability to gain market share in the Civilian space, as it is currently underrepresented [21] Other Important Information - The company returned approximately $220 million to shareholders in the quarter, including $201 million in share repurchases, and is on track to exceed its repurchase target for the year [14][16] - The company is maintaining a high threshold for M&A while focusing on its share repurchase program [16] Q&A Session Summary Question: What gives confidence to reach a book-to-bill of 1.2? - Management indicated that the submission rate and a larger qualification pipeline, with about $10 billion of submitted bids pending award, support this confidence [18][19] Question: How does the company view the Civilian versus Defense budget shifts? - Management believes the Civilian portfolio is insulated from major swings due to bipartisan support, while defense spending is expected to remain stable [20][21] Question: What is the risk around execution for the bids being chased? - The company is focusing on bidding more strategically and margin-accretively, with an emphasis on fixed-price contracts and tightening execution expectations [24][25] Question: What is the status of the recompete for the largest contract? - Management expects no award activity until the next fiscal year, with potential revenue impact in fiscal year 2026 or early fiscal year 2027 [51][53]

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining around 0.5% on Thursday. The Dow traded down 0.36% to 40,828.19 while the NASDAQ rose 0.53% to 17,174.66. The S&P 500 also fell, dropping, 0.08% to 5,515.76. Check This Out: How To Earn $500 A Month From Smith & Wesson Brands Stock Ahead Of Q1 Earnings Report Leading and Lagging Sectors Consumer discretionary shares climbed by 1.4% on Thursday. In trading on Thursday, health care shares fell by 1.2%. Top Headline Science A ...

Key Takeaways Science Applications International Corporation, or SAIC, exceeded profit and sales forecasts on increased contract volume. The government and defense technology provider also raised its full-year EPS guidance. Free cash flow rose 67% year-over-year. Shares of Science Applications International Corporation (SAIC), or SAIC, advanced Thursday when the government and defense technology provider posted better-than-expected results and boosted its guidance as the volume of contracts increased. SAIC ...

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SAIC (SAIC) came out with quarterly earnings of $2.05 per share, beating the Zacks Consensus Estimate of $1.86 per share. This compares to earnings of $2.05 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 10.22%. A quarter ago, it was expected that this information technology company would post earnings of $1.93 per share when it actually produced earnings of $1.92, delivering a surprise of -0.52%. Over the last four quarters, ...

Revenues of $1.82 billion; 2% organic growth Net income of $81 million; Adjusted EBITDA(1) of $170 million or 9.4% of revenues Diluted earnings per share of $1.58; Adjusted diluted earnings per share(1) of $2.05 Cash flows provided by operating activities of $138 million; free cash flow(1) of $241 million Net bookings of $1.2 billion; book-to-bill ratio of 0.6; trailing twelve months book-to-bill ratio of 1.1 Company increases Adjusted Diluted EPS(1) Fiscal Year 2025 guidance to $8.10 - $8.30 and reaffirms ...

SAIC Announces Second Quarter of Fiscal Year 2025 Results • Revenues of $1.82 billion; 2% organic growth (1) • Net income of $81 million; Adjusted EBITDA of $170 million or 9.4% of revenues (1) • Diluted earnings per share of $1.58; Adjusted diluted earnings per share of $2.05 • Cash flows provided by operating activities of $138 million; free cash flow of $241 million (1) • Net bookings of $1.2 billion; book-to-bill ratio of 0.6; trailing twelve months book-to-bill ratio of 1.1 (1) • Company increases Adju ...

RESTON, Va., Aug. 30, 2024 (GLOBE NEWSWIRE) -- Science Applications International Corp. (NASDAQ: SAIC) announced today that the company's board of directors declared a cash dividend of $0.37 per share of the company's common stock payable on October 25, 2024 to stockholders of record on October 11, 2024. SAIC intends to continue paying dividends on a quarterly basis, although the declaration of any future dividends will be determined by the board of directors each quarter and will depend on earnings, financ ...

The market expects SAIC (SAIC) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended July 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Septe ...