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Leidos Holdings, Inc. (NYSE: LDOS) is a leading science and technology company that provides services and solutions in defense, intelligence, civil, and health markets. Headquartered in Reston, Virginia, Leidos leverages the expertise of its 47,000 employees to tackle some of the world's most pressing challenges. The company is divided into several segments, each catering to specific industries:
- National Security and Digital: Focuses on cyber, logistics, security operations, and digital transformation for defense and intelligence customers.
- Health & Civil: Delivers public health solutions, care coordination, and environmental sciences services.
- Commercial & International: Covers security enterprise solutions, commercial energy offerings, and international business.
- Defense Systems: Develops advanced space, aerial, surface, and subsurface defense systems.
Leidos reported revenues of approximately $15.4 billion for the fiscal year ending December 29, 2023. The company’s recent projects include:
- Development of C2IMERA: An advanced command and control tool for the U.S. Air Force.
- MHS GENESIS Deployment: A federal electronic health record system implemented across all Department of Defense garrison facilities.
- Mayhem Hypersonic System: Advancing air-breathing hypersonic technologies through a collaborative national team effort.
Financially, Leidos had a strong 2023 with revenues up by 7%, achieving a record net income margin of 7.1% in the first quarter of 2024. The company remains committed to innovation, operational efficiency, and addressing emerging threats in national security and health.
Leidos Holdings (NYSE:LDOS) announced the expiration of its cash tender offer for its 3.625% Senior Notes due 2025. The tender offer, conducted by wholly-owned subsidiary Leidos, Inc., expired on February 20, 2025, at 5:00 p.m., New York City time.
As of the expiration time, $267,393,000, representing 53.48% of the $500 million aggregate principal amount outstanding, had been validly tendered. Holders who validly tendered their notes will receive $998.30 for each $1,000 principal amount, plus accrued and unpaid interest from November 15, 2024, up to the settlement date of February 25, 2025.
The tender offer is being managed by Citigroup Global Markets, J.P. Morgan Securities, and U.S. Bancorp Investments as Dealer Managers, with Global Bondholder Services serving as the depositary agent and information agent.
Leidos Holdings (NYSE:LDOS) has announced pricing terms for its cash tender offer to purchase any and all outstanding 3.625% Senior Notes due 2025. The tender offer, made through its subsidiary Leidos, Inc., will expire at 5:00 p.m., New York City time, on February 20, 2025.
Holders who validly tender their notes will receive the Notes Consideration plus accrued and unpaid interest from November 15, 2024, up to the Settlement Date, expected to be February 25, 2025. The tender offer is contingent on Leidos completing a new senior notes offering that will generate sufficient proceeds to repurchase tendered 2025 Notes and repay any remaining outstanding notes.
Citigroup, J.P. Morgan, and U.S. Bancorp are acting as Dealer Managers for the tender offer, with Global Bondholder Services serving as the depositary and information agent.
Leidos (NYSE: LDOS) has announced the promotion of Jason Albanese to corporate executive vice president and chief growth officer, effective March 3, 2024. He will succeed Gerry Fasano, who is retiring on April 4 after a 40-year career. Albanese, currently senior vice president of growth for the company's National Security sector, will report directly to CEO Tom Bell and will be key in implementing the company's NorthStar 2030 strategy.
The announcement comes as Leidos reported record financial performance for 2024, including its best fourth quarter book-to-bill ratio. Albanese, who joined Leidos in 2017 following the merger with Lockheed Martin's Information Systems and Global Solutions organization, brings experience in growth, business development, program management, and engineering.
Leidos Inc (NYSE:LDOS) has launched a cash tender offer for all outstanding 3.625% Senior Notes due 2025. The tender offer expires on February 20, 2025, at 5:00 p.m. ET, unless extended. The total principal amount outstanding is $500 million.
The Notes Consideration will be determined based on the U.S. Treasury Reference Security yield plus a fixed spread of 0 bps. Holders will receive accrued and unpaid interest from November 15, 2024, up to the settlement date, expected to be February 25, 2025.
The tender offer is contingent on Leidos completing a new senior notes offering to generate sufficient funds for the repurchase. If any 2025 Notes remain outstanding after the tender offer, Leidos expects to satisfy and discharge them according to the indenture terms.
Leidos (LDOS) reported strong financial results for Q4 and FY 2024. Q4 revenues reached $4.4 billion (up 10% YoY), while full-year revenues hit $16.7 billion (up 8% YoY). Q4 diluted EPS was $2.12 (up 28% YoY), and full-year EPS reached $9.22 (up 540% YoY).
The company demonstrated robust operational performance with Q4 net income of $282 million and full-year net income of $1.25 billion. Cash flows from operations were $299 million for Q4 and $1.4 billion for the year. Backlog grew to $43.6 billion, up 18% YoY, with a 2024 book-to-bill ratio of 1.4.
Looking ahead, Leidos provided FY2025 guidance projecting revenues between $16.9-17.3 billion, with non-GAAP diluted EPS of $10.35-10.75 and operating cash flow of approximately $1.45 billion.
Leidos Holdings (NYSE:LDOS) has announced its board of directors has declared a quarterly cash dividend of $0.40 per outstanding share of common stock. The dividend will be paid on March 28, 2025, to stockholders of record as of March 14, 2025.
The company, headquartered in Reston, Virginia, is an industry and technology leader providing digital and mission innovations to government and commercial customers. With 48,000 global employees, Leidos reported annual revenues of approximately $15.4 billion for the fiscal year ended December 29, 2023.
Nauticus Robotics (NASDAQ: KITT) has formed a strategic alliance with Leidos (NYSE: LDOS) to advance subsea autonomy solutions. The partnership builds upon their previous successful collaboration and aims to develop next-generation autonomous underwater systems.
Nauticus will contribute its commercial subsea vehicle development expertise, including its Aquanaut system and proprietary ToolKITT software platform, to enhance future unmanned underwater vehicles. The company specializes in developing autonomous robots for ocean industries, focusing on reducing operational costs and maintaining subsea infrastructure.
The alliance combines Nauticus' autonomous robotics capabilities with Leidos' technology leadership, who reported annual revenues of $15.4 billion for fiscal year 2023 and employs 48,000 people globally.
Leidos (NYSE:LDOS) has secured a follow-on checkpoint sustainment contract with the Transportation Security Administration (TSA) worth up to $2.6 billion over an eight-year period. The contract involves maintaining 12,000 units of Transportation Security Equipment across more than 430 airport locations in the U.S. and its territories.
Under the agreement, Leidos will collaborate with original equipment manufacturers to ensure high operational availability through preventive, corrective, and depot maintenance. The company will provide program management, contractor logistics support, supply chain risk analysis, TSA service response center oversight, and IT infrastructure development.
Leidos maintains a dedicated system supporting field service technicians, capturing metrics, and utilizing predictive analytics through their Trusted Mission AI to support screening system availability. The company has been supporting TSA's passenger screening mission with integrated logistics since 2013.
Leidos (NYSE: LDOS) has secured a new prime contract worth $120 million from the Naval Information Warfare Center Pacific to provide Key Management Architecture & Engineering and Cyber Security Engineering Support Services to the Department of Defense, Intelligence Community and civilian agencies. The contract includes a one-year base period with four one-year optional extensions.
Under this agreement, Leidos will focus on designing, developing, testing, integrating, and maintaining technologies for key management systems. The company will continue its role in securely designing and deploying electronic cryptographic key material for U.S. and allied national security customers.
Leidos (NYSE: LDOS) has announced its upcoming fourth quarter and full year 2024 financial results conference call, scheduled for February 11, 2025, at 8:00 AM ET. The company will release its quarterly earnings press release prior to the conference call on the same day. The financial results will cover the period ending January 3, 2025.
The conference call will be accessible via live and replay audio broadcast on the Leidos Investor Relations website, along with corresponding press release, presentation materials, and supplemental information. The webcast recording will remain available until February 11, 2026.
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