Aaron Rennie
1 min read
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Shares of Science Applications International Corp. (SAIC), or SAIC, fell in early trading Monday after the technology firm reported fiscal 2026 first-quarter profit and free cash flow below analysts' expectations.
The Reston, Va.-based government contractor posted adjusted earnings per share (EPS) of $1.92 on revenue that increased 2% year-over-year to $1.88 billion. Analysts surveyed by Visible Alpha expected $2.12 and $1.87 billion, respectively.
SAIC reported negative free cash flow of $44 million a year after posting a positive $13 million. Analysts were looking for the metric to increase to $91 million.
"Our performance in the first quarter reflects the steady progress we are making against our enterprise growth strategy despite a still dynamic operating environment," SAIC CEO Toni Townes-Whitley said.
SAIC affirmed its full-year outlook. Last quarter, it lifted its fiscal 2026 adjusted EPS projection to between $9.10 and $9.30 and the low end of its revenue forecast to a range of $7.60 billion to $7.75 billion.
Shares of SAIC were down 9% soon after the report. They entered Monday up 3% for the year.
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