Leidos awarded $738 million U.S. Air Force cybersecurity and IT support contract

Rhea-AI Summary

Leidos (NYSE: LDOS) has been awarded a $738 million follow-on contract to provide IT and telecommunications support, including cybersecurity, to various Air Force entities in the national capital region. The contract has a one-year base period with four one-year options and a six-month option. This award continues Leidos' longstanding support for the Air Force, dating back to 2003. Leidos will deliver services including cybersecurity, IT operations, asset management, program management, and engineering services. Leidos is a Fortune 500 company with annual revenues of $15.4 billion as of 2023.

Positive

• Leidos awarded a $738 million follow-on contract.
• Contract spans one year with four one-year options and a six-month option.
• Supports multiple Air Force entities in the national capital region.
• Includes essential services like cybersecurity and IT management.
• Leidos has a long-standing partnership with the Air Force since 2003.
• Annual revenues of $15.4 billion as of 2023.

Negative

• No explicit mention of new job creation or economic impact.
• The contract structure implies revenue is not guaranteed beyond the base year.

RESTON, Va., June 13, 2024 /PRNewswire/ -- Leidos (NYSE: LDOS), a Fortune 500® innovation leader, was recently awarded a $738 million follow-on contract to provide enterprise information technology (IT) and telecommunications support, including cybersecurity, to Headquarters Air Force, Headquarters Space Force, Air Force District of Washington, and other Department of the Air Force activities and missions in the national capital region. The single-award, indefinite delivery, indefinite quantity contract has a one-year base period of performance, with four one-year options and one six-month option.

"We are committed to continue delivering secure, resilient technology solutions for the U.S. Air Force," said Steve Hull, Leidos digital modernization sector president. "Leidos brings more than five decades of continuous support for the Air Force's operating environment and a strong track record of improving operational effectiveness. We take great pride in securing critical, no-fail missions essential to our national security and we are excited to keep advancing the Air Force mission together." 

Under the contract, Leidos will support all components of the Air Force in the national capital region, including the National Military Command Center. Leidos' work will include cybersecurity, enterprise IT operations, IT asset management, program management as well as plans, projects and engineering services. 

Leidos has continuously supported enterprise IT and telecommunications for the Air Force in the national capital region since 2003.

About Leidos
Leidos is a Fortune 500® innovation company rapidly addressing the world's most vexing challenges in national security and health. The company's 47,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $15.4 billion for the fiscal year ended December 29, 2023. For more information, visit www.Leidos.com. 

Certain statements in this announcement constitute "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management's current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the "Risk Factors" set forth in Leidos' Annual Report on Form 10-K for the fiscal year ended December 29, 2023, and other such filings that Leidos makes with the SEC from time to time. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

Contact:	Melissa Dueñas
	(571) 526-6850
	duenasml@leidos.com
	Alyssa Pettus
	(571) 526-6743
	alyssa.t.pettus@leidos.com
	Brandon Ver Velde
	(571) 526-6257
	Brandon.p.vervelde@leidos.com

 

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SOURCE Leidos Holdings, Inc.

FAQ

What is the value of the recent contract awarded to Leidos?

Leidos was awarded a $738 million contract.

Which entities will Leidos support under the new contract?

Leidos will support Headquarters Air Force, Headquarters Space Force, Air Force District of Washington, and other Department of the Air Force activities in the national capital region.

How long is the base period for Leidos' new contract?

The base period of the contract is one year.

What services will Leidos provide under this Air Force contract?

Leidos will provide cybersecurity, IT operations, IT asset management, program management, and engineering services.

What is the stock symbol for Leidos?

The stock symbol for Leidos is LDOS.

Since when has Leidos been supporting the Air Force?

Leidos has been supporting the Air Force since 2003.

How much revenue did Leidos report for 2023?

Leidos reported annual revenues of approximately $15.4 billion for the fiscal year ended December 29, 2023.