Leidos Holdings, Inc. - LDOS STOCK NEWS

Leidos (NYSE: LDOS) has partnered with the University of Michigan for its $334 million Mayhem program, a hypersonic project awarded by the U.S. Air Force Research Laboratory. This partnership will provide U-M aerospace students with hands-on experience in Model-Based Systems Engineering (MBSE), contributing to the development of a virtual ecosystem for the Mayhem program. Students will gain significant industry experience while helping Leidos enhance efficiencies and drive innovation in aerospace technology. Leidos aims to develop a pipeline of talent through this initiative, creating future leaders in the field.

Leidos (NYSE: LDOS) will participate in the J.P. Morgan 2023 Industrials Conference on March 15, 2023, from 4:40 p.m. to 5:20 p.m. ET in New York City. CEO Roger Krone will engage in a fireside chat during this event. A live audio webcast will be available on the Leidos Investor Relations website, with a replay accessible for 30 days post-event. Leidos is a FORTUNE 500® leader in technology, engineering, and science solutions, reporting approximately $14.4 billion in revenues for the fiscal year ending December 30, 2022.

RESTON, VA / ACCESSWIRE / March 1, 2023 / Leidos (NYSE:LDOS) announced the appointment of Thomas Bell as Chief Executive Officer, effective May 3, 2023. Bell, currently President of Defense at Rolls-Royce, will succeed Roger Krone, who has led the company since 2014 and will retire at the 2023 annual meeting. The board will also appoint Robert S. Shapard as independent chair post-meeting. Bell's selection followed a thorough process, and his extensive background in defense and aerospace is expected to provide continuity and leadership. Leidos reported approximately $14.4 billion in annual revenues for 2022.

Leidos (NYSE: LDOS) has secured a prime contract and three subcontracts from the Centers for Medicare and Medicaid Services (CMS) valued at approximately $102 million. The prime contract, which totals about $79 million, spans five years and will focus on IT operations and user services. Leidos aims to enhance CMS's mission-critical programs ensuring they remain agile and secure. Services include application migration, modernization, and support for hybrid cloud environments. This win aligns with Leidos’ strategy in IT modernization and could strengthen its market position.

Leidos (NYSE: LDOS) has announced the appointment of Thomas Bell as its new CEO, effective May 3, 2023. He will succeed Roger Krone, who will retire during the 2023 annual meeting of stockholders. Bell previously served as President at Rolls-Royce North America and has extensive experience in the aerospace sector, including roles at Boeing and Lockheed Martin. The company plans to appoint Robert S. Shapard as independent chair after the meeting. Leidos reported annual revenues of approximately $14.4 billion for the fiscal year ending December 30, 2022, emphasizing its strong position in defense, intelligence, civil, and health markets.

Leidos Holdings, Inc. (NYSE: LDOS) announced the expiration of its wholly-owned subsidiary's cash Tender Offer for any and all outstanding 2.950% Senior Notes due 2023. As of February 23, 2023, $391,572,000, or 78.31%, of the $500 million aggregate principal amount was validly tendered. Valid tendering holders will receive $995.77 for each $1,000 principal amount, plus accrued interest, on the Settlement Date, February 28, 2023. BofA Securities, Inc. and Citigroup Global Markets Inc. acted as dealer managers, while Global Bondholder Services Corporation served as the depositary agent. This offer is not a solicitation to sell any 2023 Notes.

Leidos Holdings, Inc. (NYSE: LDOS) announced the terms for a cash tender offer for its outstanding 2.950% Senior Notes due 2023. The offer is set to expire at 5:00 p.m. on February 23, 2023. Each $1,000 of the 2023 Notes validly tendered will receive cash consideration of $995.77, along with accrued interest since the last payment date of November 15, 2022. The Tender Offer is $500 million in size and is contingent on the successful completion of a new senior notes offering to cover repurchases. The company emphasized the need for note holders to review the Offer Documents carefully.

Leidos (NYSE:LDOS) has been awarded a contract for technology upgrades at London Luton Airport, one of the UK's busiest airports, which served over 13 million passengers in 2022. This project involves managing subcontractors and installing security systems, including 12 ClearScan™ cabin baggage scanners and ProPassage™ automated tray return systems, enhancing security while improving passenger experience. The work has commenced, with the first checkpoints expected to open to the public in Q4 2023. This initiative is part of Leidos' strategy to provide integrated security solutions that adapt to future operational needs.