The earnings call presented a mixed outlook. While there are positive developments in profit margins, book-to-bill ratios, and AI integration, the revenue decline and challenging environment due to delays in new business awards and on-contract growth uncertainties are significant concerns.

Company Guidance

In the second quarter of fiscal year 2026, Science Applications International Corporation (SAIC) reported a 2.7% year-over-year decline in revenue, attributed to slower conversion of on-contract growth opportunities, increased program disruptions, and delays in new business awards. Despite these challenges, the company achieved a book-to-bill ratio comfortably over 1.0 for the second consecutive quarter, bringing the year-to-date ratio to 1.4. Adjusted EBITDA reached $185 million, with a margin of 10.5%, while adjusted diluted earnings per share stood at $3.63, benefiting from a favorable tax settlement. Free cash flow improved to $150 million. SAIC revised its fiscal year 2026 revenue guidance to a range of $7.25 billion to $7.325 billion, reflecting organic contraction of 2% to 3%, and adjusted its fiscal year 2027 revenue guidance to 0% to 3% growth. The company also increased its fiscal year 2026 adjusted EPS guidance to $9.40 to $9.60 and expects free cash flow to exceed $550 million, with plans to deliver nearly $12 in free cash flow per share in fiscal year 2026.

Strong Book-to-Bill Ratio

The company reported a book-to-bill ratio comfortably over 1.0 for the second consecutive quarter, with a year-to-date book-to-bill of 1.4.

Improved Profit Margins

Profit margins rebounded well from the first quarter, with an adjusted EBITDA margin of 10.5%, reflecting improved profitability across the contract portfolio.

Effective Cost Efficiency Initiatives

The company is implementing cost efficiency initiatives to mitigate the impact on EBITDA and free cash flow, increasing confidence in margin improvement plans.

Artificial Intelligence Integration

Increased opportunities to drive greater efficiency through AI adoption in core operations expected to be a tailwind for margins and customer savings.

Positive Political Support

Encouraged by political support for funding in areas like border security, FAA modernization, and homeland missile defense.

Science Applications (SAIC) Earnings, Revenues Date & History

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SAIC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 08, 2025	2026 (Q3)	2.13 / -	2.61	―	―	―
Sep 04, 2025	2026 (Q2)	2.51 / 3.63	2.05	77.07% (+1.58)
Jun 02, 2025	2026 (Q1)	2.12 / 1.92	1.92	0.00% (0.00)
Mar 17, 2025	2025 (Q4)	2.19 / 2.57	1.43	79.72% (+1.14)
Dec 05, 2024	2025 (Q3)	2.21 / 2.61	2.27	14.98% (+0.34)
Sep 05, 2024	2025 (Q2)	1.85 / 2.05	2.05	0.00% (0.00)
Jun 03, 2024	2025 (Q1)	1.92 / 1.92	2.14	-10.28% (-0.22)
Mar 18, 2024	2024 (Q4)	1.47 / 1.43	2.04	-29.90% (-0.61)
Dec 04, 2023	2024 (Q3)	1.69 / 2.27	1.9	19.47% (+0.37)
Sep 07, 2023	2024 (Q2)	1.62 / 2.05	1.75	17.14% (+0.30)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SAIC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Sep 04, 2025	$114.11	$106.22	-6.91%
Jun 02, 2025	$115.17	$99.90	-13.26%
Mar 17, 2025	$103.76	$111.18	+7.15%
Dec 05, 2024	$122.71	$119.61	-2.53%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.