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Jul 31, 2020
SAIC Q2 2021 Earnings Report
SAIC's Q2 2021 financial results were announced, showcasing revenue growth and strong bookings.
Key Takeaways
SAIC reported an 11% increase in revenue to $1.8 billion, driven by acquisitions and new contracts. The company's net bookings reached $4.6 billion, resulting in a book-to-bill ratio of 2.6. Adjusted diluted earnings per share increased to $1.63, and the company highlighted its resilient revenue base and strong cash generation.
Revenues increased by 11% to $1.8 billion, with a slight contraction excluding acquired revenues.
Diluted earnings per share were $0.87, while adjusted diluted earnings per share reached $1.63.
Net bookings amounted to $4.6 billion, yielding a book-to-bill ratio of 2.6.
The estimated backlog of signed business orders at the end of the quarter was approximately $19.4 billion.
Forward Guidance
SAIC updated its fiscal year 2021 guidance, expecting revenue between $7.1 billion and $7.2 billion, adjusted diluted EPS between $5.80 and $6.10, and free cash flow to meet or exceed $500 million.
Positive Outlook
- Revenue between $7.1 billion - $7.2 billion
- Adjusted Diluted EPS between $5.80 - $6.10
- Free Cash Flow to meet or exceed $500 million
Challenges Ahead
- Potential impact of the COVID-19 pandemic to be $250 million in revenue
- Potential impact of the COVID-19 pandemic to be $35 million in adjusted EBITDA
- Continued impact from COVID-19 through the end of fiscal year 2021 (January 29, 2021)
- Support currently provided under Section 3610 of the CARES Act is extended through that period
Historical Earnings Impact
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Avg. Return Before/After Earnings
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