- Science Applications International Corp (NYSE:SAIC) reported fourth-quarter FY22 revenue growth of 4% year-over-year to $1.78 billion and +1.4% organic, beating the consensus of $1.77 billion.
- The growth reflected ramp up on new and existing contracts and the acquisition of Halfaker and Associates.
- Adjusted EPS of $1.50 beat the consensus of $1.23.
- Operating margin contracted by 110 bps to 4.8% due to higher acquisition costs related to Halfaker. Adjusted operating margin contracted by 40 bps to 5.9%.
- Adjusted EBITDA margin contracted 110 bps to 8.2%.
- SAIC generated $103 million in operating cash flow and held $106 million in cash and equivalents.
- Net bookings for the quarter were $2.2 billion, reflecting a book-to-bill ratio of 1.2.
- The board's cash dividend of $0.37 per share is payable on April 29, 2022, to stockholders of record on April 14, 2022.
- FY23 Outlook: SAIC sees revenue of $7.35 billion-$7.55 billion, lower than the consensus of $7.61 billion.
- It expects an Adjusted EPS of $6.80 -$7.10 versus the consensus of $6.84.
- Price Action: SAIC shares closed higher by 0.91% at $91.66 on Friday.
