Why SAIC Stock Plunged Today

Government contractor Science Applications International (NASDAQ: SAIC) reported disappointing quarterly results, weighed down by the government's efficiency drive. Investors were disappointed, sending SAIC shares down 13% for the day.

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SAIC is one of the largest so-called "Beltway Bandits" -- defense contractors focused on providing IT and other services to military, intelligence, and civil government customers. The company earned $1.92 per share in its fiscal first quarter of 2026 on revenue of $1.88 billion, compared to analyst expectations for $2.12 per share in earnings on sales of $1.87 billion.

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Source Fool.com