Science Applications Int'l (SAIC) Misses Q1 EPS by 3c, Revenues Beat; Offers FY21 EPS Guidance Below Consensus, Provides FY21 Revenue Outlook

Science Applications Int'l (NYSE: SAIC) reported Q1 EPS of $1.38, $0.03 worse than the analyst estimate of $1.41. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.73 billion.

• Revenues: $1.8 billion; 9% total revenue growth, 3% excluding acquired revenues
• Diluted earnings per share: $0.62; Adjusted diluted earnings per share(1): $1.38
• Adjusted EBITDA(1) as a % of revenues: 7.8%, including 30 bps negative impact from COVID-19
• Cash flows provided by operating activities: $367 million; $167 million excluding sale of receivables
• Net bookings of $1.6 billion equating to a book to bill of 0.9, excluding $4.6 billion of single-award IDIQ's

“SAIC continues to operate as an essential business in a resilient market through the COVID-19 pandemic. Our focused response prioritizes our employees' safety and well-being, ensuring on-going, high-quality customer performance, and protecting shareholder interests," said SAIC CEO, Nazzic Keene. "Our strong first quarter results demonstrate the resiliency of our market and business model, providing organic revenue growth, consistent profitability, and strong cash generation."

GUIDANCE:

Science Applications Int'l sees FY2021 EPS of $5.80-$6.10, versus the consensus of $6.24. Science Applications Int'l sees FY2021 revenue of $7.1-7.3 billion, versus the consensus of $7.27 billion.

For earnings history and earnings-related data on Science Applications Int'l (SAIC) click here.

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