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May 05, 2023
SAIC Q1 2024 Earnings Report
Reported strong financial results driven by revenue growth and margin improvement.
Key Takeaways
SAIC announced strong Q1 financial results with a 2% increase in revenues to $2.03 billion and a net income of $98 million. The company's adjusted EBITDA was $189 million, representing 9.3% of revenues. Diluted earnings per share were reported at $1.79, with adjusted diluted earnings per share at $2.14. Net bookings reached $2.1 billion, resulting in a book-to-bill ratio of 1.1x.
Revenues increased by 2% to $2.03 billion.
Net income was $98 million.
Adjusted EBITDA was $189 million, 9.3% of revenues.
Net bookings of $2.1 billion, book-to-bill of 1.1x.
Forward Guidance
SAIC increases revenue and adjusted diluted EPS guidance for fiscal year 2024.
Positive Outlook
- Revenue: $7.125B - $7.225B
- Adjusted EBITDA Margin: 9.2% - 9.4%
- Adjusted Diluted EPS: $7.00 to $7.20
- Transaction-Adjusted Free Cash Flow: $460M - $480M
- Company expects continued revenue growth and margin improvement
Challenges Ahead
- Expected cash tax and other payments of approximately $82M related to the L&SCM sale which will impact cash flows provided by operating activities in the second, third and fourth quarters of fiscal year 2024.
- Unpredictable and potentially significant impact on our future GAAP financial results.
- Risks, uncertainties and assumptions could cause or contribute to material differences.
- Do not place undue reliance on such forward-looking statements, which speak only as of the date hereof.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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