Science Applications International Corporation (SAIC) SEC Filings & Earnings Calls

Adjusted diluted EPS declined 17% YoY despite revenue growth, partly due to higher share repurchases reducing share count but also higher SG&A costs.

“Adjusted diluted earnings per share for the quarter was $3.01 compared to $3.63 in the prior year quarter.”

Book-to-bill ratio of 0.6 for the quarter and 0.8 TTM suggests near-term revenue replacement may be below historical levels.

“Net bookings of $1.2 billion; quarterly book-to-bill ratio of 0.6; trailing twelve months book-to-bill ratio of 0.8.” · word for word

Government budget and shutdown risk

“Adverse changes in fiscal and economic conditions could materially impact our business. Some changes that could have an adverse impact on our business include ... potential government shutdowns.” · word for word

Competitive bidding pressure

“The U.S. government has increasingly relied on contracts that are subject to a competitive bidding process ... which has resulted in greater competition and increased pricing pressure.” · word for word

Contract cancellation risk

“The U.S. government can adjust the scope of services of or cancel contracts at any time.” · word for word

No new risk signals; routine dividend declaration.

Potential disruption in civilian business segment due to executive departure.

“Srinivas Attili, Executive Vice President, Civilian Business Group, stepped down from his role effective May 29, 2026 and will depart from the Company on or about June 12, 2026.”

Contract performance and profitability risk

“Improved profitability across contract portfolio; but contract mix and execution risks remain.”

Dependence on government contracts

“Business driven by U.S. government contracts; budget and policy changes could impact.”

Integration risk from SilverEdge acquisition

“Revenue contribution from SilverEdge acquisition; integration risks.”

Government contract review and cancellation risk

“Our contracts have been, and will continue to be, subject to these reviews. ...term reductions in personnel, changes in agency alignment, required reviews of new contracting activity, decreases or delays in new or existing contract awards and in government spending on the types of programs that we support, and terminations or stop-work-orders and delay in fu” · word for word

Competitive bidding pressure

“The U.S. government has increasingly relied on contracts that are subject to a competitive bidding process... which has resulted in greater competition and increased pricing pressure.” · word for word

Small business set-aside expansion

“the U.S. government has put renewed emphasis on increasing the number of small business prime set-aside contracts that further reduce the addressable market in some areas.” · word for word

Recompete Loss Risk

“We attribute our stock’s relative underperformance to recent revenue declines driven by poor recompete results in certain portions of our portfolio.” · word for word

Enterprise IT Portfolio Pressure

“We secured several noteworthy program awards while navigating pressure in our large enterprise IT portfolio.” · word for word

CEO Transition Risk

“Mr. Reagan was appointed Interim Chief Executive Officer in fiscal 2026 ... transitioned to the permanent role of CEO on February 17, 2026.” · word for word

No material risks identified; board appointments are routine governance actions.

U.S. government budget dependency

“We generated 98% of our total revenues during each of the last three fiscal years from contracts with the U.S. government.” · word for word

Contract mix margin pressure

“In fiscal 2026, approximately 62%, 22% and 16% of our total revenues came from cost-reimbursable contracts, T&M contracts and FFP contracts, respectively.” · word for word

Competitive bidding and protest risk

“We expect that most of the contracts we pursue in the foreseeable future will be awarded through a competitive bidding process as the U.S. government increasingly relies on IDIQ, GSA Schedule, and other multi-award contracts, which has led to greater competition and increased pricing pressure.” · word for word

Government audit and compliance risk

“The DCAA, the DCMA, and others routinely audit a contractor’s performance on government contracts, indirect cost rates and pricing practices, and compliance with applicable government contracting and procurement laws, regulations, and standards.” · word for word

Top-line revenue decline due to contract completions and government shutdown impact; reliance on new contracts and acquisitions for growth.

“Revenues for the quarter decreased $88 million compared to the prior year quarter primarily due to ramp down in volume on existing contracts, including the impact of government shutdown, and contract completions.” · word for word

No new risks; routine dividend declaration.

Unfavorable recompete losses and procurement delays reduce revenue visibility.

“Two recent unfavorable recompete award decisions and unchanged market conditions... revenue to organically decline.” · word for word

Concentration in commoditized Enterprise IT programs increases vulnerability to budget shifts.

“Revenue pressures... disproportionately within our portfolio of larger and commoditized Enterprise IT programs.”

Revenue contraction of 5.6% YoY due to ramp down on existing contracts and government shutdown headwind

“Revenues decreased $110 million or 6% compared to the same period in the prior year primarily due to ramp down in volume on existing contracts”

Government Shutdown Risk

“If Congress is not able to pass the remaining appropriations by that date, it could potentially lead to a partial or full government shutdown affecting any outstanding unfunded agencies.” · word for word

Contract Cancellation Risk

“The U.S. government can adjust the scope of services of or cancel contracts at any time.” · word for word

Competitive Bidding Pressure

“The U.S. government has increasingly relied on contracts that are subject to a competitive bidding process ... which has resulted in greater competition and increased pricing pressure.” · word for word

Leadership departures and restructuring execution risk.

“three executives departing; reorganization effective Jan 31, 2026”