LDOS · Technology

Leidos Holdings, Inc.

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: what to focus on this earnings window

News · 2026-08-06

• Capital Return ProgramImportance 40 · Surprise 42
  Leidos announced a 20-million-share repurchase authorization. The authorization provides capacity for future share buybacks, although the digest did not disclose a dollar amount or expiration date. The company also…

News · 2026-08-05

• Operating Cash Flow TrendsImportance 44 · Surprise 24
  Second-quarter cash flow from operations was $793 million. Non-GAAP free cash flow was $761 million for the quarter. Management cited record operating cash flow and solid booking activity when raising portions of its…
• Capital Return ProgramImportance 40 · Surprise 42
  Leidos announced a 20-million-share repurchase authorization. The authorization provides capacity for future share buybacks, although the digest did not disclose a dollar amount or expiration date. The company also…

10-Q · 2026-08-04

• Liquidity and Debt PositionImportance 84 · Surprise 74
  Leidos held $748 million of cash and cash equivalents as of July 3, 2026, with no borrowings under its $1.5 billion revolving credit facility and no commercial paper outstanding. Outstanding debt increased to $6.0…
• Interest Rate and Refinancing ExposureImportance 84 · Surprise 74
  Outstanding debt increased to $6.0 billion at July 3, 2026, from $4.6 billion at January 2, 2026. In March 2026, Leidos issued $600 million of 4.10% senior notes due March 2029 and $800 million of 5.00% senior notes…
• Order Backlog and Book-to-BillImportance 76 · Surprise 56
  Leidos recorded estimated net bookings of $4.9 billion in the second quarter and $8.2 billion year to date, versus $3.9 billion and $6.0 billion, respectively, in the prior-year periods. Total backlog increased to…
• Acquisitions and DivestituresImportance 71 · Surprise 60
  Leidos recognized $141 million of Homeland revenue from the Entrust acquisition during the three months ended July 3, 2026, and $152 million during the six-month period. The Entrust acquisition added $371 million of…
• Order Backlog and BookingsImportance 71 · Surprise 48
  Leidos recorded estimated net bookings of $4.9 billion in the quarter and $8.2 billion in the six months ended July 3, 2026, compared with $3.9 billion and $6.0 billion in the comparable 2025 periods. Total backlog…
• U.S. Government Funding OutlookImportance 64 · Surprise 42
  Leidos generated approximately 83% of revenue in the three months and 85% in the six months ended July 3, 2026, from U.S. government contracts. Congress was advancing fiscal 2027 appropriations bills, but management…
• Revenue Concentration RiskImportance 61 · Surprise 32
  U.S. government contracts represented approximately 83% of total revenue in the quarter ended July 3, 2026, down from 87% in the comparable 2025 quarter. U.S. government contracts represented 85% of six-month revenue,…
• Geographic Market CommentaryImportance 60 · Surprise 40
  International customers, including foreign governments and their agencies, represented approximately 9% of second-quarter revenue and 8% of year-to-date revenue. This compares with 8% of revenue for both comparable…
• Capital Return ProgramImportance 51 · Surprise 38
  Leidos repurchased $66 million of common stock in the open market during the three months ended July 3, 2026, and $266 million during the six-month period. The company made no open-market repurchases in the comparable…
• Revenue Performance and MixImportance 49 · Surprise 32
  Leidos generated $4.558 billion of revenue in the three months ended July 3, 2026, up 7.2% from $4.253 billion, and $8.958 billion in the six months, up 5.4% from $8.498 billion. Intelligence & Digital revenue…
• End-Market Demand TrendsImportance 49 · Surprise 32
  Leidos generated approximately 83% of second-quarter and 85% of year-to-date revenue from U.S. government contracts, with demand tied primarily to national security, homeland security and intelligence spending.…
• Income Tax Rate ChangesImportance 47 · Surprise 48
  Leidos' effective tax rate decreased to 21.1% from 24.1% for the three months ended July 3, 2026. The six-month effective tax rate decreased to 21.5% from 23.9% in the prior-year period. The reductions in both periods…
• Operating Cash Flow TrendsImportance 38 · Surprise 24
  Net cash provided by operating activities increased $307 million in the quarter and $550 million for the six months ended July 3, 2026, versus the comparable 2025 periods. The improvement primarily reflected favorable…
• Operating Margin DriversImportance 36 · Surprise 40
  Consolidated operating margin decreased to 11.3% from 13.4% in the quarter and to 11.4% from 13.0% for the six months ended July 3, 2026. Intelligence & Digital's six-month operating margin improved to 9.6% from 9.5%…
• Trade Policy and TariffsImportance 17 · Surprise 24
  Leidos stated that higher tariffs on imported goods and materials could increase the cost of goods needed to fulfill customer contracts and for internal purposes. The company expects to recover certain portions of…

8-K · 2026-08-04

• Acquisition / Partnership / DivestitureImportance 100 · Surprise 100
  Leidos acquired ENTRUST Solutions Group on March 27, 2026, contributing $141 million of second-quarter Homeland revenue and $371 million of Homeland backlog at the acquisition date. Six-month investing cash flow…
• Guidance / OutlookImportance 80 · Surprise 68
  Leidos raised its fiscal 2026 revenue guidance to $18.20 billion-$18.40 billion from the prior range of $18.00 billion-$18.40 billion. It increased non-GAAP diluted EPS guidance to $12.20-$12.50 from $12.10-$12.50 and…
• Acquisitions and PartnershipsImportance 71 · Surprise 60
  Leidos incurred $29 million of acquisition, integration, and restructuring costs in the second quarter, including costs associated with its acquisition of ENTRUST Solutions Group and pending joint venture with Analogic…
• Liquidity and Debt PositionImportance 69 · Surprise 64
  Leidos generated $793 million of operating cash flow and $761 million of free cash flow in the second quarter, compared with $486 million and $457 million, respectively, in the prior-year quarter. The company used $300…
• Operating Expense TrendsImportance 66 · Surprise 74
  Selling, general and administrative expense increased 30% year over year to $283 million from $217 million, rising from approximately 5.1% to 6.2% of revenue. Acquisition, integration, and restructuring costs increased…
• Supply Chain ConstraintsImportance 64 · Surprise 42
  The $475 million Avionics Intermediate Shop Production Support Integration award includes responsibility for resolving complex component shortages affecting F-16 sustainment. Leidos will also manage original equipment…
• Customer DynamicsImportance 64 · Surprise 42
  Leidos secured a four-year, $456 million General Services Administration contract to manage Military OneSource. The program will provide 24/7 counseling, tax support, relocation tools, and other well-being services to…
• Headcount / RestructuringImportance 59 · Surprise 82
  Leidos recorded $27 million of acquisition, integration, and restructuring costs in the second quarter, compared with $2 million a year earlier. The costs included restructuring associated with the NorthStar 2030…
• Products and TechnologyImportance 58 · Surprise 42
  Leidos won an $88 million NSWC contract to develop experimental hypersonic glide vehicles as real-world testbeds for high-speed flight technologies. Under a $350 million U.S. Air Force modification, the company will…
• Market Demand TrendsImportance 49 · Surprise 32
  Leidos reported $4.6 billion of quarterly revenue, up 7% year-over-year and 4% organically, driven by increased customer demand for defense tech products, energy and air traffic management solutions, and intelligence…
• Capital Return ProgramImportance 45 · Surprise 38
  Leidos returned $127 million to shareholders during the second quarter, including $72 million of share repurchases and $55 million of quarterly dividends. Six-month share repurchases and other stock repurchases totaled…
• Revenue Performance and MixImportance 42 · Surprise 14
  Second-quarter revenue increased 7% year over year to $4.56 billion from $4.25 billion, including 4% organic growth. Intelligence & Digital revenue rose 6% to $1.50 billion, while Defense revenue increased 6% to $955…
• Income Tax Rate ChangesImportance 30 · Surprise 30
  Second-quarter income tax expense decreased 24% year over year to $95 million from $125 million, despite $451 million of pretax income. The implied GAAP effective tax rate declined to approximately 21.1% from 24.1% in…
• Operating Margin DriversImportance 29 · Surprise 22
  GAAP operating income declined 10% year over year to $514 million from $571 million, reducing total operating margin to 11.3% from 13.4%. Adjusted EBITDA decreased 2% to $631 million, and adjusted EBITDA margin…
• Geographic Market CommentaryImportance 6 · Surprise 6
  The Military OneSource contract will serve more than 4.7 million service members and their families worldwide. The F-16 sustainment award supports fleets operated by the U.S. Air Force, European partners, and other…

News · 2026-08-04

• Guidance and OutlookImportance 69 · Surprise 60
  Leidos raised its fiscal 2026 revenue guidance to $18.20 billion-$18.40 billion. Full-year 2026 non-GAAP diluted EPS guidance was increased or reaffirmed at $12.20-$12.50. Management also raised its operating cash flow…
• Guidance / OutlookImportance 69 · Surprise 60
  Leidos raised its full-year 2026 outlook after reporting stronger-than-expected second-quarter execution and contract awards. Management guided to revenue of $18.20 billion to $18.40 billion and adjusted diluted EPS of…
• Market Demand TrendsImportance 64 · Surprise 42
  Leidos secured a $456 million GSA contract to manage the Military OneSource program for more than 4.7 million service members and their families. Reporting cited strong demand across defense technology, homeland…
• Strategic Contract AwardImportance 53 · Surprise 60
  Leidos won a $456 million General Services Administration contract to manage the Military OneSource program. The program will serve more than 4.7 million service members and their families. The award increases…
• Operating Income and MarginsImportance 44 · Surprise 24
  Leidos reported second-quarter adjusted EBITDA of $631 million, representing a 13.8% non-GAAP adjusted EBITDA margin. The quarter's adjusted EBITDA margin reflects profitability on $4.6 billion of revenue. Management…
• Operating Cash Flow TrendsImportance 44 · Surprise 24
  Second-quarter cash flow from operations was $793 million. Non-GAAP free cash flow was $761 million for the quarter. Management cited record operating cash flow and solid booking activity when raising portions of its…
• Revenue Performance and MixImportance 43 · Surprise 32
  Second-quarter fiscal 2026 revenue increased 7% year over year to $4.6 billion, or approximately $4.56 billion. The Intelligence & Digital segment generated $1.5 billion of revenue and was identified as the leading…
• Customer DynamicsImportance 40 · Surprise 42
  The Health segment is facing pressure after the U.S. Department of Veterans Affairs suspended incentive payments. Reporting also identified uncertainty surrounding the MHS Genesis program, creating risk for…