SAIC (SAIC) Q1 Earnings Lag Estimates

Core Viewpoint - SAIC reported quarterly earnings of $1.92 per share, slightly missing the Zacks Consensus Estimate of $1.93 per share, and down from $2.14 per share a year ago, indicating a -0.52% earnings surprise [1] Financial Performance - The company posted revenues of $1.85 billion for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 0.21%, but down from $2.03 billion year-over-year [2] - Over the last four quarters, SAIC has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] Stock Performance - SAIC shares have increased by approximately 8.3% since the beginning of the year, compared to the S&P 500's gain of 10.6% [3] Future Outlook - The company's earnings outlook will be crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $2 on $1.82 billion in revenues, and for the current fiscal year, it is $8.11 on $7.45 billion in revenues [7] Industry Context - The Computers - IT Services industry, to which SAIC belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, suggesting potential challenges ahead [8]