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12:00
Aug 04 ◎

LDOS FY2026 Q2 Watch

Leidos Holdings, Inc. (LDOS) FY2026 Q2 Earnings Call

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Tom Bell

Partnership positions Leidos to provide secure, sovereign cloud AI infrastructure for intelligence community and defense, a growth area for LDOS.

"here recently, just last week, perhaps you caught the fact that we announced a major partnership with CoreWeave"

CRWV WATCH

Tom Bell

LDOS raised revenue, EPS, and cash flow guidance, driven by strong defense demand and margin performance, despite health segment headwinds.

"we can once again raise our full year guidance"

LDOS WATCH

Tom Bell

Defense segment's 1.9x trailing twelve-month book-to-bill suggests significant revenue acceleration pipeline, excluded from current guidance. — Indicates defense segment revenue growth will accelerate over coming quarters, potentially outpacing peers in defense tech.

"Defense posted a 2.2 book to bill ratio in the second quarter. Over the trailing 12 months, this equates to a 1.9 book to bill ratio."

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Tom Bell

LDOS's munitions facility in Huntsville will ramp up production capacity for LCCM, with production readiness review scheduled for later this month. — Indicates new production capacity being added, potentially alleviating supply constraints for munitions sector.

"production readiness and scaling review scheduled for later this month"

RTX WATCH

Tom Bell

Coordination with CoreWeave marks entry into sovereign AI infrastructure, indicating higher capex intensity and new competitive positioning. — Signals shift in how defense and intelligence agencies will access AI compute, potential disruption to traditional on-premise deployments.

"we announced a major partnership with CoreWeave"

ORCL WATCH IBM WATCH

HIGH

12:00
May 05 ◎

LDOS FY2026 Q1 Watch

Leidos Holdings, Inc. (LDOS) FY2026 Q1 Earnings Call

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Chris Cage

Leidos raised full-year guidance on the strength of the Entrust acquisition and a strong core business, signaling confidence in future growth, albeit with a more cautious Q2 outlook.

"we're raising our 2026 guidance for revenues, earnings, and cash. Specifically, we're increasing revenue guidance by $500 million to a new range of $18 billion to $18.4 billion..."

LDOS WATCH

HIGH

13:00
Feb 17 ◎

LDOS FY2025 Q4 Watch

Leidos Holdings, Inc. (LDOS) FY2025 Q4 Earnings Call

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Tom Bell

Leidos is a key supplier to Northrop's space programs (SDA Tranche 1), indicating a strong partnership but with no direct read on Northrop's trajectory.

"We've delivered two tranche one payloads to Northrop with the remaining ones coming this year."

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Tom Bell

Leidos saw ~$7 billion in awards slip from Q4 into Q1 2026, and the company is on two key 10-year IDIQs: Missile Defense Agency's $151B SHIELD program (Golden Dome) and Defense Microelectronics Activity's $25B program, but these are not yet in backlog. — The slippage is temporary, but the massive size of the IDIQs and pending awards indicates a strong, broad-based demand environment for missile defense, which will compete with traditional prime contractors for task orders.

"We saw about $7 billion in awards slip from Q4 into this quarter. And we have now $20 billion of pending awards and a $49 billion of backlog."

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Tom Bell

Guidance is positive, with management expecting accelerating growth throughout 2026 driven by defense and new business wins, while navigating headwinds in health and a government shutdown impact.

"We expect revenue growth will build throughout the year, ending with sustained momentum approaching double digits."

LDOS WATCH

HIGH

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