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SAIC Posts Strong Earnings In First Quarter

By Cal Biesecker

Monday, June 5th, 2023

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SAIC Posts Strong Earnings In First Quarter

SAIC CEO Nazzic Keene. Photo: SAIC

Science Applications International Corp. [SAIC] on Monday reported strong earnings in its first quarter of fiscal year 2024 driven by lower indirect, acquisition and integration costs, and a gain from the deconsolidation of a joint venture. Net income jumped 32 percent to $98 million, $1.79 earnings per share (EPS), from $74 million ($1.29 EPS) a year ago. Excluding acquisition and integration costs, gains on divestitures, adjust earnings of $2.14 EPS topped consensus estimates by 31 cents per share. Sales in…

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