Leidos Holdings Inc ( (LDOS) ) has realeased its Q3 earnings. Here is a breakdown of the information Leidos Holdings Inc presented to its investors.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Leidos Holdings Inc. is a Fortune 500 company specializing in tackling complex challenges in national security and health sectors through innovative technology solutions, headquartered in Reston, Virginia.
In its latest earnings report, Leidos Holdings Inc. announced strong financial results for the third quarter of 2024, marked by significant year-over-year growth in revenue and earnings, prompting the company to raise its full-year guidance.
Leidos reported a 7% increase in revenue to $4.2 billion compared to the same quarter last year, accompanied by a net income of $362 million, a significant turnaround from a loss in the previous year. The company’s adjusted EBITDA also saw a substantial increase of 32%, reaching $596 million, driven by higher volumes in managed health services and efficient program execution. The cash flow from operations was robust at $656 million, with free cash flow standing at $633 million. Leidos also reported impressive net bookings of $8.1 billion, indicating strong future growth prospects.
Strategically, Leidos secured several pivotal contracts, including those with the Veterans Benefits Administration and the U.S. Army, aligning with its focus on expanding its footprint in defense and health services. These contracts underline the company’s commitment to delivering cutting-edge solutions for national security and defense.
Looking ahead, Leidos has raised its fiscal guidance for 2024, anticipating revenues between $16.35 billion and $16.45 billion, reflecting its confidence in maintaining its growth trajectory. The company remains well-positioned to deliver sustainable returns and continue its strategic focus in key sectors.
