SAIC (SAIC) To Report Earnings Tomorrow: Here Is What To Expect
Government IT services provider Science Applications International Corporation (NASDAQ:SAIC) will be announcing earnings results this Monday before market hours. Here’s what to look for.
SAIC beat analysts’ revenue expectations last quarter, reporting revenues of $1.91 billion, up 1.5% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.
Is SAIC a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting SAIC’s revenue to be flat year on year, improving from the 2.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. SAIC has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at SAIC’s peers in the government & technical consulting segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Booz Allen Hamilton’s revenues decreased 4.2% year on year, missing analysts’ expectations by 0.5%, and ICF International reported flat revenue, falling short of estimates by 0.7%. Booz Allen Hamilton traded up 8.8% following the results while ICF International was also up 11.4%.
Read our full analysis of Booz Allen Hamilton’s results here and ICF International’s results here.
There has been positive sentiment among investors in the government & technical consulting segment, with share prices up 3.9% on average over the last month. SAIC is up 8.1% during the same time and is heading into earnings with an average analyst price target of $121.50 (compared to the current share price of $126.57).
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