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SAIC Secures Contract With U.S Army Enterprise Service Desk
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Science Applications (SAIC - Free Report) recently secured a single-award contract worth $757 million from the U.S Army Enterprise Service Desk (“AESD”) to provide software development and management services.
Per the latest contract, SAIC will continue to perform U.S AESD operations by optimizing Army Enterprise Service Management Framework service delivery processes and expanding the functionalities of the software as a service environment. The company will deliver service desk support to the U.S Army for voice, messaging, video teleconferencing, computing, network infrastructure, customer support and information assurance.
Utilizing ServiceNow, the company further intends to modernize the U.S Army’s existing IT management service system into a fully cloud-native enterprise management platform. This will accelerate the Army’s IT delivery process, thereby enhancing its user experience. This reflects SAIC’s position as a leader in cloud migration and digital modernization.
The company is focused on the federal government marketplace and capturing more market share. It intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy and strengthening existing customer relationships while building newer ones. Higher spending, as proposed in the latest federal government budget, is anticipated to accelerate the pace of contract awards, which in turn will be beneficial for SAIC’s top-line growth.
Science Applications International Corporation Price and Consensus
In September, the company inked a strategic partnership with the Laconia, NH-based defense and space manufacturing start-up, Rogue Space Systems Corporation, to deliver solutions that provide In-Orbit Service Assembly and Manufacturing, asset inspection and Space Situational Awareness services.
In August, SAIC received a Falconer Air Operations Center Weapon System Sustainment contract worth $319 million from the U.S Air Force. Per the deal, SAIC will act as a system integrator to optimize Falconer Weapon System’s operational capabilities while transforming it into a modernized, highly capable and sustainable system.
During second-quarter fiscal 2023, SAIC reported revenues of $1.83 billion, mainly driven by contributions from the newly acquired Halfaker business and the ramp-up of new and existing contracts.
The Zacks Consensus Estimate for SAIC’s third-quarter fiscal 2023 revenues is pegged at $1.86 billion compared with the year-ago quarter’s $1.90 billion. Shares of the company have improved 22% in the past year.
The Zacks Consensus Estimate for Celestica’s fourth-quarter 2022 earnings has increased by 9 cents to 53 cents per share over the past 30 days. For 2022, earnings estimates have moved 16 cents up to $1.86 per share in the past 30 days.
CLS' earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 11.8%. Shares of the company have moved up 1.1% in the past year.
The Zacks Consensus Estimate for Fabrinet's second-quarter fiscal 2023 earnings has been revised 16 cents northward to $1.89 per share over the past seven days. For fiscal 2023, earnings estimates have improved by 7.6% to $7.48 per share in the past seven days.
FN’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, missing once, the average surprise being 5.4%. Shares of the company have gained 5.4% in the past year.
The Zacks Consensus Estimate for Zscaler's first-quarter fiscal 2023 earnings has been revised 7 cents north to 26 cents per share over the past 90 days. For fiscal 2023, earnings estimates have moved north by a penny to $1.18 per share in the past 60 days.
ZS' earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 28.6%. Shares of the company have declined 61.3% in the past year.
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SAIC Secures Contract With U.S Army Enterprise Service Desk
Science Applications (SAIC - Free Report) recently secured a single-award contract worth $757 million from the U.S Army Enterprise Service Desk (“AESD”) to provide software development and management services.
Per the latest contract, SAIC will continue to perform U.S AESD operations by optimizing Army Enterprise Service Management Framework service delivery processes and expanding the functionalities of the software as a service environment. The company will deliver service desk support to the U.S Army for voice, messaging, video teleconferencing, computing, network infrastructure, customer support and information assurance.
Utilizing ServiceNow, the company further intends to modernize the U.S Army’s existing IT management service system into a fully cloud-native enterprise management platform. This will accelerate the Army’s IT delivery process, thereby enhancing its user experience. This reflects SAIC’s position as a leader in cloud migration and digital modernization.
The company is focused on the federal government marketplace and capturing more market share. It intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy and strengthening existing customer relationships while building newer ones. Higher spending, as proposed in the latest federal government budget, is anticipated to accelerate the pace of contract awards, which in turn will be beneficial for SAIC’s top-line growth.
Science Applications International Corporation Price and Consensus
Science Applications International Corporation price-consensus-chart | Science Applications International Corporation Quote
In September, the company inked a strategic partnership with the Laconia, NH-based defense and space manufacturing start-up, Rogue Space Systems Corporation, to deliver solutions that provide In-Orbit Service Assembly and Manufacturing, asset inspection and Space Situational Awareness services.
In August, SAIC received a Falconer Air Operations Center Weapon System Sustainment contract worth $319 million from the U.S Air Force. Per the deal, SAIC will act as a system integrator to optimize Falconer Weapon System’s operational capabilities while transforming it into a modernized, highly capable and sustainable system.
During second-quarter fiscal 2023, SAIC reported revenues of $1.83 billion, mainly driven by contributions from the newly acquired Halfaker business and the ramp-up of new and existing contracts.
The Zacks Consensus Estimate for SAIC’s third-quarter fiscal 2023 revenues is pegged at $1.86 billion compared with the year-ago quarter’s $1.90 billion.
Shares of the company have improved 22% in the past year.
Zacks Rank & Other Key Picks
SAIC currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader Computer and Technology sector are Celestica (CLS - Free Report) , Fabrinet (FN - Free Report) and Zscaler (ZS - Free Report) . While Celestica flaunts a Zacks Rank #1 (Strong Buy), Fabrinet and Zscaler carry a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Celestica’s fourth-quarter 2022 earnings has increased by 9 cents to 53 cents per share over the past 30 days. For 2022, earnings estimates have moved 16 cents up to $1.86 per share in the past 30 days.
CLS' earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 11.8%. Shares of the company have moved up 1.1% in the past year.
The Zacks Consensus Estimate for Fabrinet's second-quarter fiscal 2023 earnings has been revised 16 cents northward to $1.89 per share over the past seven days. For fiscal 2023, earnings estimates have improved by 7.6% to $7.48 per share in the past seven days.
FN’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, missing once, the average surprise being 5.4%. Shares of the company have gained 5.4% in the past year.
The Zacks Consensus Estimate for Zscaler's first-quarter fiscal 2023 earnings has been revised 7 cents north to 26 cents per share over the past 90 days. For fiscal 2023, earnings estimates have moved north by a penny to $1.18 per share in the past 60 days.
ZS' earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 28.6%. Shares of the company have declined 61.3% in the past year.