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Nov 03, 2023
SAIC Q3 2024 Earnings Report
SAIC's Q3 2024 earnings were announced, revealing a mix of divestiture impacts and organic growth.
Key Takeaways
SAIC reported revenues of $1.90 billion, a 1% decrease year-over-year, but experienced 10.6% organic growth when adjusted for divestitures. Net income reached $93 million, with adjusted EBITDA at $178 million, reflecting a 9.4% margin. The company increased its revenue and adjusted diluted EPS guidance for fiscal year 2024.
Revenues reached $1.90 billion, reflecting a 10.6% organic growth rate when adjusted for divestitures.
Net income was reported at $93 million, with an adjusted EBITDA of $178 million, marking a 9.4% margin on revenues.
Diluted earnings per share stood at $1.76, while adjusted diluted earnings per share reached $2.27.
Cash flows from operating activities amounted to $101 million, and transaction-adjusted free cash flow was $148 million.
Forward Guidance
SAIC updated its fiscal year 2024 guidance, projecting revenues between $7.325B and $7.350B, an adjusted EBITDA margin of 9.3% to 9.4%, adjusted diluted EPS between $7.70 and $7.90, and transaction-adjusted free cash flow between $460M and $480M.
Positive Outlook
- Revenue is projected to be between $7.325B and $7.350B.
- Adjusted EBITDA margin is expected to be between 9.3% and 9.4%.
- Adjusted Diluted EPS is anticipated to be between $7.70 and $7.90.
- Transaction-Adjusted Free Cash Flow is guided to be between $460M and $480M.
- The company's focus on strategic pivots across innovation, go-to-market, culture, and brand is expected to drive continued success.
Challenges Ahead
- Guidance excludes 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.
- The company's future performance is subject to risks, uncertainties, and assumptions, including those discussed in the company's SEC filings.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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