SAIC Lifts Annual Earnings Outlook, Gets Authorization For Repurchase Of $1.2 Bln Shares; Stock Up

Science Applications International

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Kaufen / Verkaufen

(RTTNews) - Science Applications International Corp. (SAIC), an IT company, on Thursday revised up its annual earnings guidance, while revising revenue expectations.

In addition, the company said its Board has authorized a share repurchase of up to $1.2 billion. This authorization is effective as of December 16 without an expiration date. SAIC noted that this authorization replaces its existing share repurchase program.

For the full year, the company now expects adjusted income per share of $8.50 to $8.65, higher than the prior outlook of $8.10 to $8.30 per share. On average, 10 analysts, polled by Thomson Reuters forecast the firm to earn $8.19 per share, for the year. Analysts' estimates typically exclude special items.

Revenue is now projected to be $7.425 billion to $7.475 billion against the earlier outlook for $7.35 billion to $7.50 billion. Analysts, on average, expect SAIC to post revenue of $7.4 billion, for the year.

On December 4, the company announced that it will pay a dividend of $0.37 per share on January 24, to stockholders of record on January 10, 2025.

SAIC was up by 10.32 percent at $136.70 in the pre-market trade on the Nasdaq.