Science Applications International Corporation Reports Revenue Growth but Faces Booking Challenges
Science Applications International Corporation (NASDAQ:SAIC) reported second-quarter fiscal 2027 revenue of $1.88 billion, a year-over-year increase of 6.3%. However, the company's book-to-bill ratio for the quarter was 0..6, indicating that it booked less new work than its current revenue level suggests. The total backlog stood at approximately $22.1 billion, with only $3.8 billion funded and the remaining $18.3 billion in negotiated unfunded contracts. While this provides visibility into future potential revenue, continued growth depends on securing new awards to replace completed work. Management raised its fiscal 2027 revenue guidance due to strong organic performance across sectors. Despite a $740 million recompete award from the U.S. Department of Homeland Security expected in the next quarter, concerns remain about Science Applications' ability to sustain growth without consistent new bookings.
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