Government IT services provider Science Applications International Corporation (NASDAQ:SAIC) will be announcing earnings results this Monday morning. Here’s what to expect.
SAIC missed analysts’ revenue expectations last quarter, reporting revenues of $1.75 billion, down 4.8% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but full-year revenue guidance missing analysts’ expectations significantly.
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This quarter, the market is expecting SAIC’s revenue to decline 2.4% year on year, a reversal from the 1.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have 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 Q1 results, giving us a hint as to what we can expect. UL Solutions delivered year-on-year revenue growth of 7.5%, beating analysts’ expectations by 1.2%, and Jacobs Solutions reported revenues up 8.8%, topping estimates by 2%. UL Solutions traded up 16.4% following the results while Jacobs Solutions was down 7.3%.
Link: https://au.finance.yahoo.com/news/saic-earnings-look-saic-030103460.html