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Science Applications (SAIC) Clinches Falconer AOC WS Deal

Zacks Equity Research
·4-min read

Science Applications International Corporation SAIC recently secured Falconer Air Operations Center (AOC) Weapon System Sustainment contract worth $319 million from the U.S. Air Force.

Teaming up with Kessel Run, a Division within the Air Force Life Cycle Management Center’s Digital Directorate, SAIC will provide global AOCs with a reliable, secure and modernized mission system to plan and conduct air operations. The AOC Weapon System develops operations strategy and planning documents, disseminates tasking orders, executes day-to-day peacetime and combat air, space and cyber operations, and provides rapid reaction to immediate situations by exercising positive control of friendly forces.

Under the Falconer program, Air Force component commanders plan, execute and assess air, space and cyberspace operations. The AOC ingests, analyzes and disseminates command, control and intelligence data to support such operations.

Science Applications International Corporation Price and Consensus

Science Applications International Corporation Price and Consensus
Science Applications International Corporation Price and Consensus

Science Applications International Corporation price-consensus-chart | Science Applications International Corporation Quote

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Per the deal, Science Applications 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. 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 relations 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 won a $390 million task order from the General Services Administration on behalf of the U.S. Space Force/Space Systems Command during the first quarter of the fiscal year 2023. Further, it secured $337 million of contract awards by space and intelligence community organizations during the same period.

During first-quarter fiscal 2023, Science Applications reported revenues of $2 billion, witnessing a 6% surge from the year-ago quarter. This was 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 second-quarter fiscal 2023 revenues is pegged at $1.82 billion, suggesting a year-over-year fall of 0.83%.

Zacks Rank & Key Picks

Science Applications currently carries a Zacks Rank #3 (Hold). Shares of SAIC have increased 14.4% in the past year.

Some better-ranked stocks from the broader Computer and Technology sector are Clearfield CLFD, Silicon Laboratories SLAB, and Taiwan Semiconductor TSM. While Clearfield and Silicon Laboratories sport a Zacks Rank #1 (Strong Buy), TSM carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Clearfield's fourth-quarter fiscal 2022 earnings has been revised 10 cents upward to 80 cents per share over the past 30 days. For fiscal 2022, earnings estimates have moved 36 cents north to $3.13 per share in the past 30 days.

Clearfield’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 33.9%. Shares of CLFD have soared 184.3% in the past year.

The Zacks Consensus Estimate for Silicon Laboratories’ third-quarter 2022 earnings has increased 22.9% to $1.02 per share over the past 30 days. For 2022, earnings estimates have moved 14.2% up to $4.18 per share in the past 30 days.

Silicon Laboratories’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 63.6%. Shares of SLAB have decreased 9.5% in the past year.

The Zacks Consensus Estimate for Taiwan Semiconductor's third-quarter 2022 earnings has been revised 10 cents northward to $1.69 per share over the past 30 days. For 2022, earnings estimates have moved 41 cents north to $6.30 per share in the past 30 days.

TSM's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 3.9%. Shares of the company have decreased 19.3% in the past year.


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