SAIC

SAIC reported adjusted EPS of USD 3.01 and revenue of USD 1.88 billion for the second fiscal quarter, both above consensus estimates. The company raised its full-year guidance for revenue, adjusted EBITDA and EPS, and expects free cash flow of at least USD 600 million. Growth was driven by faster billing, strong project execution and demand in intelligence services, space and defense; the ORBIT program is expected to deliver roughly USD 150 million in annual savings. The stock rose premarket while management flagged more cautious booking signals and expected margin pressure in the second half. » Plus sur de.investing.com

SAIC has received a $70 million contract from the U.S. Navy to provide technical support, development and sustainment for radar, RF and microwave systems at the Naval Surface Warfare Center Crane Division. The cost‑plus‑fixed‑fee contract has a one‑year base period with four one‑year extension options (up to five years). SAIC will provide design, configuration management and engineering services for search, multi‑mission and fire‑control systems such as SPS‑48E/49, SPQ‑9B, SPS‑67, MK‑99, SPY‑1, SPY‑6 and G/ATOR. The Reston‑based company employs about 23,000 people and most recently reported annual revenue of roughly $7.3 billion. » Plus sur de.investing.com

The Chinese carmaker SAIC plans a passenger car factory in northwestern Spain (Galicia) with an initial investment of around €200 million. Construction is scheduled to begin in 2027, with production expected to start before the end of 2028, provided the Spanish central government approves the direct investment. The plant is planned to produce up to 120,000 cars a year and create about 1,000 direct jobs. The move follows the trend of Chinese manufacturers establishing production capacity in Europe. » Plus sur manager-magazin.de