Defense and IT contractor SAIC stock soars 17.9% after crushing Q3 earnings. Sales met forecasts, but profits beat expectations. Operating profit and net profit fell, but free cash flow grew. Book-to-bill ratio suggests sales growth ahead. Stock price remains attractive at a P/FCF ratio of 8.9. SAIC stock may be a buy.

SAIC’s Q3 earnings report shows a 6% sales decrease and a 20% drop in operating profit. However, adjusted profits beat expectations. Free cash flow increased substantially, exceeding reported operating income and net income. SAIC raised sales guidance slightly, expecting $7.3 billion in sales and adjusted profit of $9.80 to $10 per share.

SAIC’s net profit fell 21% to $1.69 per diluted share. Despite the decline, the company reported a book-to-bill ratio of 1.2x, indicating potential sales growth. SAIC stock is priced at $4.9 billion with a P/FCF ratio of 8.9, making it an attractive investment option.

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Read more at Yahoo Finance: Why SAIC Stock Soared Today