Leidos Secures $1.5 Billion Sentinel Award

Rhea-AI Summary

Leidos (NYSE: LDOS) has been awarded a prime task order worth up to $1.5 billion by the Department of Defense. The contract includes a one-year base period and four additional one-year options, focusing on enhancing C5ISR capabilities globally. According to Gerry Fasano, President of Leidos Defense Group, the project aims to integrate advanced technology for improving operational effectiveness in the military. This contract expands Leidos' support for warfighters, providing essential technological innovation in a rapidly evolving defense landscape.

Positive

• Awarded a prime task order with a ceiling value of $1.5 billion, enhancing potential revenue.
• Focus on C5ISR capabilities aligns with current defense technology needs.
• Expands Leidos' role in supporting U.S. military operations.

Negative

• None.

RESTON, Va., Oct. 12, 2022 /PRNewswire/ -- Leidos (NYSE: LDOS), a FORTUNE® 500 science and technology leader, was recently awarded a prime task order to support the Department of Defense. 

The task order holds a ceiling value of approximately $1.5 billion if all options are exercised. It includes a one-year base period of performance with four additional one-year option periods. Work will be performed worldwide.

"In today's battlefield, the command who has actionable multi and cross domain data fastest is the one with the high ground," said Gerry Fasano, Leidos Defense Group President. "Leidos has finely tuned our portfolio of expertise and developed a dynamic enterprise suite of C5ISR solutions, including Joint All-Domain Command and Control (JADC2) tools to ensure our warfighters exploit state-of-the-art technology to maintain their decisive advantage and enable joint synergy for operational superiority. We are honored to support this critical mission, providing readiness against evolving global threats."

Through this contract, Leidos will utilize Command, Control, Computers, Communications, Cyber, Intelligence, Surveillance and Reconnaissance (C5ISR) capabilities to enhance technological innovation with a focus on rapid insertion of technologies across the mission spectrum, for multiple services, and integrating new technology with existing and legacy systems for enhanced effectiveness.

Leidos will support the government with rapid technology insertion to enhance C5ISR missions at global scale. This award enables Leidos to expand upon its extensive C5ISR support to the warfighter as well as deliver a critical capability towards improved warfighter support.

About Leidos

Leidos is a Fortune 500® technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, civil and health markets. Leidos' 44,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va., Leidos reported annual revenues of approximately $13.7 billion for the fiscal year ended December 31, 2021. 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 31, 2021, 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
Melissa.L.Duenas@leidos.com

Thomas Doheny
(571) 474-4735
Dohenyt@leidos.com

Brandon VerVelde
(571) 526-6257
Brandon.p.vervelde@leidos.com

 

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SOURCE Leidos Holdings, Inc.

FAQ

What is the value of the new task order awarded to Leidos (LDOS)?

The task order has a ceiling value of approximately $1.5 billion.

What does the new contract for Leidos involve?

The contract focuses on enhancing Command, Control, Computers, Communications, Cyber, Intelligence, Surveillance and Reconnaissance (C5ISR) capabilities.

How long is the task order for Leidos (LDOS) set to last?

It includes a one-year base period and four additional one-year options.

Who awarded the contract to Leidos?

The contract was awarded by the Department of Defense.

What benefits will the new task order provide to warfighters?

It aims to enhance technological innovation and operational effectiveness for U.S. military forces.