SAIC reports Q3 adjusted EPS $2.58, consensus $2.15

Reports Q3 revenue $1.87B, consensus $1.87B. “Our third quarter results reflect a 5.6% revenue contraction, slightly ahead of our guidance when adjusting for the approximate 1% headwind from the government shutdown, and strong margins due to continued sound program execution,” said Jim Reagan, SAIC (SAIC) Interim Chief Executive Officer. “My priority as interim CEO is to focus the company for long-term shareholder value creation. We have already begun implementing the initial changes to fuel growth and drive margins higher while maintaining our capital allocation framework centered around our share repurchase program.”