SAIC CEO foresees 'political support' around defense spending

Science Applications International Corporation (SAIC) released its second quarter results, surpassing Wall Street estimates on both revenue and earnings. The company reported revenue of $1.82 billion, exceeding the expected $1.79 billion. Adjusted earnings per share also beat expectations, coming in at $2.05 per share compared to the anticipated $1.85. Following these strong results, SAIC raised its full-year outlook. SAIC CEO Toni Townes-Whitley joins Morning Brief to discuss the results. Townes-Whitley attributes the quarter's success to a ramp-up in new business and on-contract growth, stating that this performance positions them for a strong second half of the year. With an election year underway, Townes-Whitley notes that the defense and national securities portion of SAIC's business is "broad" and diversified. With ongoing tensions escalating globally, Townes-Whitley states the company is expecting "political support" around defense spending activity. "We feel like we got a balanced portfolio on civilian defense, independent of the results of November. We feel like our portfolio can carry us to the growth that we're expecting in shareholder return," she tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith