Science Applications International reports 0.5% organic revenue growth and $222 million adjusted EBITDA, beating expectations on strong execution and cost controls.
Science Applications International (NASDAQ:SAIC) delivered first-quarter revenue of $1.9 billion, up 0.5% organically, exceeding internal forecasts. The company attributed the result to materials timing and an extension of the RITS program, while maintaining a cautious outlook for the full year.
Adjusted EBITDA reached $222 million, with margins boosted by strong program execution, cost-efficiency efforts, and a $12 million gain from a venture investment IPO. The gain contributed 60 basis points to adjusted EBITDA margin and $0.20 to adjusted earnings per share.
CEO Jim Reagan called the quarter a step toward sustained organic growth but emphasized the need to rebuild investor confidence over multiple quarters. The company highlighted steady cash generation and early signs of improvement in federal spending activity.