Science Applications International Corporation - SAIC STOCK NEWS

SAIC (NASDAQ: SAIC) has secured a new $170.9 million contract from the State of Texas' Department of Information Resources (DIR) to provide cybersecurity services for state agency networks. The company will deliver security operations services, including maintenance and deployment of security tools, environment monitoring, risk management, and compliance oversight.

This contract expands SAIC's growing partnership with state and local governments, adding to their existing IT and cybersecurity services portfolio with clients in Virginia, Colorado, and California. As the prime contractor, SAIC will focus on implementing cutting-edge technologies to enhance service delivery and address emerging threats.

SAIC has secured a prime position on the $1.8 billion Personnel and Readiness Infrastructure Support Management (PRISM) Multiple Award Task Order Contract for the Department of Defense. The contract includes one base year plus four option years, supporting the Office of the Undersecretary of Defense for Personnel and Readiness (OUSD P&R) and its strategic partners.

The PRISM contract implements Streamline Task Order Ordering Procedures (STOOP), designed to reduce acquisition lead time and increase process flexibility. SAIC will focus on enhancing OUSD P&R's operational capabilities through technology integration, data analytics, and mission support services, aiming to optimize readiness and strengthen defense personnel framework.

SAIC has unveiled its comprehensive ESG strategy, outlining a three-year rolling plan focused on corporate responsibility and sustainability. The strategy, informed by stakeholder input and a 2023 materiality assessment, rests on three strategic pillars designed to create long-term value.

The company's ESG vision aims to establish SAIC as an industry leader in corporate responsibility, while its mission focuses on delivering business value through environmental stewardship, social responsibility, and workforce engagement. Key material areas identified include:

• Ethics and Compliance
• Cybersecurity, Data Security and Privacy
• Corporate Culture
• Employee Well-being and Talent Management
• Corporate Governance
• Diversity, Equity and Inclusion

The strategy emphasizes stakeholder engagement through business strategy sharing, direct feedback, and targeted partnerships to address specific opportunities.

SAIC reported strong Q3 FY2025 results with revenues of $1.98 billion, representing a 4.3% growth. Net income reached $106 million with adjusted EBITDA of $197 million (10.0% of revenues). The company achieved diluted earnings per share of $2.13 and adjusted diluted EPS of $2.61.

Key highlights include operating cash flows of $143 million, net bookings of $1.5 billion with a book-to-bill ratio of 0.7, and a significant $1.2 billion share repurchase program authorization. SAIC increased its FY2025 guidance for Revenue and Adjusted Diluted EPS, now expecting to exceed $25B in submissions compared to the prior $22B target.

Science Applications International Corp (SAIC) has announced that its board of directors has declared a quarterly cash dividend of $0.37 per share. The dividend will be paid on January 24, 2025, to stockholders of record as of January 10, 2025. The company expressed its intention to continue paying dividends quarterly, though future declarations will be subject to board approval and dependent on various factors including earnings, financial condition, and capital requirements.

SAIC has appointed John K. Tien, Jr., a U.S. Army veteran and former Deputy Secretary of Homeland Security, to its Board of Directors effective December 2, 2024. Tien will serve on the Board's Nominating and Corporate Governance Committee, expanding the board from eleven to twelve members. He brings extensive experience from government, military, and corporate sectors, including roles at DHS, Citigroup, and three presidential administrations. Currently, Tien serves as a distinguished professor at Georgia Institute of Technology and senior fellow at Harvard Kennedy School. He holds degrees from West Point, Oxford University as a Rhodes Scholar, and completed a National Security Fellowship at Harvard Kennedy School.

Science Applications International Corp (SAIC) has announced significant progress in its environmental sustainability initiatives. The company has reduced electrical energy consumption by 7.14% in 2023 from 2022 levels, achieving a total consumption of 25,833,192 kWh. SAIC has expanded its emissions reporting to include Scope 3 categories in 2023, adding Employee Commuting and Fuel and Energy Related Activity Emissions to their existing Business Travel and Leased Assets reporting. The company implements various sustainability practices, including a sustainable procurement program, responsible electronic waste disposal, and paper reduction initiatives through double-sided printing and recycled paper usage.

SAIC (NASDAQ: SAIC) has announced it will release its third quarter fiscal year 2025 results before market open on December 5, 2024. The company will host a conference call at 10:00 a.m. Eastern time to discuss operational and financial results. The call will be accessible via webcast through SAIC's Investor Relations website, with no dial-in option available. A supplemental presentation and on-demand audio replay will be provided on the website. SAIC is a Fortune 500 technology integrator with annual revenues of approximately $7.4 billion and 24,000 employees, focusing on defense, space, civilian, and intelligence markets.

SAIC Vice President of ESG Integration and DEI Initiatives Jeff Raver highlighted how small acts of allyship can significantly impact company culture. He shared an example from SAIC's Equality Alliance ERG, where an employee's rainbow ribbon pin led to a meaningful conversation about LGBTQ+ acceptance with her daughter. Raver emphasized that such initiatives, detailed in their recent Corporate Responsibility Report, contribute to SAIC's development as a talent magnet and solutions provider.