SAIC

EX-99.1

2 saic06012026ex991earningsr.htm

EARNINGS RELEASE

Document

Exhibit 99.1

SAIC Announces First Quarter of Fiscal Year 2027 Results

•Revenues of $1.91 billion, approximately 2% growth; 0.5% organic growth(1) adjusted for SilverEdge acquisition

•Net bookings of $2.1 billion; quarterly book-to-bill ratio of 1.1; trailing twelve months book-to-bill ratio of 1.0

•Net income of $115 million; Adjusted EBITDA(1) of $222 million or 11.6% of revenues

•Diluted earnings per share of $2.61; Adjusted diluted earnings per share(1) of $3.23

•Cash flows provided by operating activities of $127 million; Free cash flow(1) of $118 million

•Company increases fiscal year 2027 guidance for adjusted EBITDA(1), adjusted EBITDA margin %(1) and adjusted diluted EPS(1); reiterates revenue and free cash flow(1) guidance

RESTON, VA, June 1, 2026—Science Applications International Corporation (NASDAQ: SAIC), a premier mission integrator driving our nation's digital transformation across the defense, space, intelligence, and civilian markets, today announced results for the first quarter ended May 1, 2026.

"I am proud of our team’s performance this quarter, delivering record margin and modest organic growth," said Jim Reagan, SAIC Chief Executive Officer. "These results reflect our focus on execution and our commitment to our financial targets. We are raising our guidance to reflect this strong start, while continuing to invest for the future. We are also advancing our enterprise transformation and strategy efforts to drive long-term growth and margin expansion, and to support our customers’ most critical missions."

First Quarter of Fiscal Year 2027: Summary Operating Results

Three Months Ended

May 1, 2026Percent changeMay 2, 2025

(dollars in millions, except per share amounts)

Revenues$1,906 2 %$1,877

Operating income179 48 %121

Operating income as a percentage of revenues9.4%300bps6.4%

Adjusted operating income(1) 221 40 %158

Adjusted operating income as a percentage of revenues11.6%320bps8.4%

Net income115 69 %68

EBITDA(1)

220 41 %156

EBITDA as a percentage of revenues11.5%320bps8.3%

Adjusted EBITDA(1) 222 41 %157

Adjusted EBITDA as a percentage of revenues11.6%320bps8.4%

Diluted earnings per share$2.61 84 %$1.42

Adjusted diluted earnings per share(1) $3.23 68 %$1.92

Net cash provided by operating activities$127 27 %$100

Free cash flow(1) $118 368 %$(44)

(1)Non-GAAP measure, see Schedule 6 for information about this measure.

First Quarter Summary Results

Revenues for the quarter increased $29 million or approximately 2% compared to the same period in the prior year primarily due to revenues from the acquisition of SilverEdge Government Solutions ("SilverEdge") of $19 million and ramp up in volume on existing and new contracts, partially offset by contract completions. Adjusting for the acquisition of SilverEdge, revenues grew by approximately 0.5%.

Operating income as a percentage of revenues for the quarter increased compared to the same period in the prior year primarily due to improved profitability across our contract portfolio and a $12 million gain from the sale of an investment in the current year.

Adjusted EBITDA(1) as a percentage of revenues for the quarter increased to 11.6% from 8.4% for the same period in the prior year due to improved profitability across our contract portfolio, a $12 million gain from the sale of an investment in the current year, and lower selling, general and administrative expenses.

Diluted earnings per share for the quarter was $2.61 compared to $1.42 in the prior year quarter. Adjusted diluted earnings per share(1) for the quarter was $3.23 compared to $1.92 in the prior year quarter. The weighted-average diluted shares outstanding during the quarter decreased to 44.0 million from 47.8 million during the prior year quarter.

(1)Non-GAAP measure, see Schedule 6 for information about this measure.

Cash Generation and Capital Deployment

Cash flows provided by operating activities for the first quarter increased $27 million compared to the prior year quarter primarily due to timing of vendor payments, lower cash incentive-based compensation payments, and other changes in working capital, partially offset by lower cash inflows from the usage of the MARPA Facility and higher interest paid in the current year.

During the quarter, SAIC deployed $192 million of capital, consisting of $175 million of plan share repurchases and $17 million in cash dividends.

Quarterly Dividend Declared

Subsequent to quarter end, on May 28, 2026, the Company's Board of Directors declared a cash dividend of $0.37 per share of the Company's common stock payable on July 24, 2026 to stockholders of record on July 10, 2026. SAIC intends to continue paying dividends on a quarterly basis, although the declaration of any future dividends will be determined by the Board of Directors each quarter and will depend on earnings, financial condition, capital requirements and other factors.

Backlo

EX-99.1

2 saic031620268kexhibit991.htm

EARNINGS RELEASE

Document

Exhibit 99.1

SAIC Announces Fourth Quarter and Full Fiscal Year 2026 Results

•Q4 FY26 revenues of $1.75 billion; FY26 revenues of $7.26 billion

•Q4 FY26 net income of $85 million, adjusted EBITDA(1) of $181 million or 10.3% of revenue; FY26 net income of $358 million, adjusted EBITDA(1) of $708 million or 9.7% of revenue

•Q4 FY26 diluted earnings per share of $1.87, adjusted diluted earnings per share(1) of $2.62; FY26 diluted earnings per share of $7.70, adjusted diluted earnings per share(1) of $10.75

•Q4 FY26 cash flows provided by operating activities of $258 million, free cash flow(1) of $336 million; FY26 cash flows provided by operating activities of $609 million, free cash flow(1) of $577 million

•Q4 FY26 net bookings of $0.6 billion; book-to-bill ratio of 0.3; trailing twelve months book-to-bill ratio of 1.1

•Announces FY27 guidance for adjusted diluted earnings per share(1) and reiterates revenue, adjusted EBITDA(1), adjusted EBITDA margin(1), and free cash flow(1) guidance

RESTON, VA, March 16, 2026—Science Applications International Corporation (NASDAQ: SAIC), a premier Fortune 500 technology integrator driving our nation's digital transformation across the defense, space, civilian, and intelligence markets, today announced results for the fourth quarter and full fiscal year ended January 30, 2026.

"As previously announced on February 11, our fourth-quarter results reflected ongoing top-line challenges, balanced by strong operational execution that supports our ability to raise margin expectations moving forward," said Jim Reagan, SAIC’s Chief Executive Officer. "I am encouraged by the progress we are making and by the opportunities in front of us. Our plan is simple – we will focus on elements within our control to drive more consistent and reliable growth. With a career dedicated to operational excellence and value creation in our industry, I am honored to continue, as permanent CEO, building on SAIC’s solid foundation to deliver meaningful results to all stakeholders."

Fourth Quarter and Full Fiscal Year 2026: Summary Operating Results

Three Months EndedYear Ended

January 30, 2026Percent changeJanuary 31, 2025January 30, 2026Percent changeJanuary 31, 2025

(dollars in millions, except per share amounts)

Revenues$1,750 (5)%$1,838 $7,262 (3)%$7,479

Operating income133 (4)%138 521 (7)%563

Operating income as a percentage of revenues7.6 %10bps7.5 %7.2 %-30bps7.5 %

Adjusted operating income(1) 179 2 %176 702 — %705

Adjusted operating income as a percentage of revenues10.2 %60bps9.6 %9.7 %30bps9.4 %

Net income85 (13)%98 358 (1)%362

EBITDA(1)

175 — %175 676 (5)%708

EBITDA as a percentage of revenues10.0 %50bps9.5 %9.3 %-20bps9.5 %

Adjusted EBITDA(1) 181 2 %177 708 — %710

Adjusted EBITDA as a percentage of revenues10.3 %70bps9.6 %9.7 %20bps9.5 %

Diluted earnings per share$1.87 (7)%$2.00 $7.70 7 %$7.17

Adjusted diluted earnings per share(1) $2.62 2 %$2.57 $10.75 18 %$9.13

Net cash provided by operating activities$258 124 %$115 $609 23 %$494

Free cash flow(1) $336 42 %$236 $577 16 %$499

(1)Non-GAAP measure, see Schedule 6 for information about this measure.

Fourth Quarter Summary Results

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, partially offset by new contracts and the acquisition of SilverEdge ($23 million).

Operating income as a percentage of revenues increased to 7.6% for the quarter as compared to 7.5% in the comparable prior year period primarily due to lower selling, general and administrative expenses, partially offset by timing and volume mix in our contract portfolio.

Adjusted EBITDA(1) as a percentage of revenues for the quarter was 10.3%, compared to 9.6% for the prior year quarter primarily due to lower selling, general and administrative expenses, partially offset by timing and volume mix in our contract portfolio.

Diluted earnings per share for the quarter was $1.87 compared to $2.00 in the prior year quarter. Adjusted diluted earnings per share(1) was $2.62 for the quarter compared to $2.57 in the prior year quarter. The weighted-average diluted shares outstanding during the quarter decreased to 45.4 million shares from 49.0 million shares during the prior year quarter.

(1)Non-GAAP measure, see Schedule 6 for information about this measure.

Fiscal Year 2026 Summary Results

Revenues for the fiscal year decreased $217 million compared to the prior year primarily due to contract completions and ramp down in volume on existing contracts, including approximately $26 million attributable to the government shutdown, partially offset by new contracts. Revenues attributed to SilverEdge for the year ended January 30, 2026 were $27 million. Adjusting for the acquisition of SilverEdge, revenues contracted by approximately 3.3%.

O

saic-202602110001571123false00015711232026-02-112026-02-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 11, 2026

Science Applications International Corporation (Exact name of registrant as specified in its charter)

Delaware 001-35832 46-1932921 (State or other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

12010 Sunset Hills Road, Reston, VA 20190 (Address of Principal Executive Offices) (Zip Code) (703) 676-4300 Registrant’s telephone number, including area code Not Applicable (Former name or former address if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $.0001 per shareSAICThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On February 11, 2026, Science Applications International Corporation (the “Company”) announced certain preliminary unaudited financial results for its fiscal fourth quarter, full fiscal year ended January 30, 2026 and the Company’s financial outlook for fiscal year 2027 in a press release and presentation that are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively. The press release and presentation are incorporated by reference herein. The estimated financial results for the year ended January 30, 2026 are preliminary and subject to normal end of period closing procedures and, accordingly, are subject to change. As a consequence, actual results may differ from the preliminary results contained in the press release and presentation. The non-GAAP measures for the year ended January 30, 2026 will be reconciled to the corresponding generally accepted accounting principles (“GAAP”) financial measures when the Company reports its full fourth quarter and fiscal year 2026 results on March 16, 2026. A copy of this presentation will also be posted on the Company’s Investor Relations website at https://investors.saic.com. The attached Exhibits 99.1 and 99.2 contain certain estimated, forward-looking financial measures for fiscal year 2027 not presented in accordance with GAAP, including adjusted EBITDA, adjusted EBITDA margin and free cash flow, that have not been reconciled to the corresponding GAAP financial measures due to the difficulty in forecasting and quantifying certain amounts necessary for such reconciliation. Because certain deductions for non-GAAP exclusions used to calculate net income and cash flows from operating activities may vary significantly based on actual events, the Company is not able to forecast GAAP net income or GAAP net cash flows from operating activities with reasonable certainty. The variability of the above charges may have an unpredictable and potentially significant impact on our future GAAP financial results. Item 7.01. Regulation FD Disclosure. The information contained in Item 2.02 “Results of Operations and Financial Condition” is incorporated herein by reference. On February 11, 2026, certain members of Company management are attending an investor conference and will be presenting a business update including the information contained in Exhibits 99.1 and 99.2. The information contained in this Item 7.01, and Exhibits 99.1 and 99.2, are being furnished, and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under Section 18. Furthermore, the in