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Leidos Holdings, Inc (NYSE:LDOS) reported better-than-expected second-quarter fiscal 2024 earnings on Tuesday.
The company posted revenue growth of 8% year-over-year to $4.13 billion, beating the analyst consensus estimate of $4.06 billion, driven by demand across all customer segments, especially for managed health services. The defense, aviation, information technology, and biomedical research company's adjusted EPS was $2.63, up 46% year over year, beating the analyst consensus estimate of $2.27.
CEO Thomas Bell commented, "Our collaborative innovation strategy and capabilities-based organization position us well to deliver on our commitments for the remainder of 2024 and beyond."
Leidos expects fiscal 2024 revenue of $16.1 billion-$16.4 billion (prior $16.0 billion – $16.4 billion). The analyst consensus stands at $16.25 billion. The company expects its fiscal 2024 adjusted EPS of $8.60 – $9.00 (prior $8.40 – $8.80) versus the $8.82 consensus.
Leidos shares fell 2% to trade at $143.04 on Wednesday.
These analysts made changes to their price targets on Leidos following earnings announcement.
Posted In: LDOS