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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 and Google have collaborated to develop a healthcare-specific AI application using Google's Medical Pathways Language Model 2 (MedPaLM2). This domain-specific model offers greater accuracy and relevance for medical questions compared to general AI models. The application aims to further reduce disability benefits approval processing time from days to potentially hours.
Key features of the AI application include:
- Retrieval Augmentation Generation (RAG) for self-updating
- Human oversight to ensure accuracy
- Built on Leidos' Framework for AI Resilience and Security (FAIRS)
- Addressing potential biases in training data
Leidos is now focusing on scaling the application for production environments, processing thousands of reports weekly. Future applications may include claims management, data interoperability, and clinical decision support.
Leidos, a partner of the National Institutes of Health (NIH) for over 25 years, operates the Frederick National Laboratory for Cancer Research and supports The Children's Inn at NIH. The company recently sponsored the Inn's 10th annual An Evening for Hope gala, which raised over $1.8 million for children with rare and serious diseases. In 2023, Leidos' contributions provided 191 families with 59 nights of free accommodation at The Inn, enabling their participation in critical NIH clinical research studies. The company also funded 24 recreational and educational activities for families staying at The Inn. With over 15,000 nights of accommodations provided to 730 families in 2023, The Children's Inn continues to be a vital resource for families worldwide, running entirely on donations.
Leidos has partnered with the American Red Cross for nearly eight years, focusing on blood donation drives and other initiatives. The company launched blood drives at its Columbia, Maryland, and Reston, Virginia headquarters in October 2015. Since 2016, Leidos has hosted 31 blood drives, collecting 926 units of blood from over 1,000 donors, including 171 first-time donors.
Leidos has also partnered with its African American Leidos Network (AALN) ERG to sponsor a sickle-cell anemia drive and collaborated with the Leidos Pride ERG to educate about FDA guidelines for blood donation in the LGBTQ+ community. The company's efforts have continued even during the COVID-19 pandemic, collecting 278 units from 2020-2021.
Blood donation is critical, with nearly 30,000 units needed daily in the U.S. Leidos emphasizes the convenience and importance of blood donation, noting that one pint can save up to three lives.
Leidos, a key player in defense logistics, draws parallels between the D-Day logistics operation and its current support for defense and government customers across the UK, U.S., and Australia. The company highlights its role in the Logistics Commodities & Services Transformation (LCST) Programme for the UK Ministry of Defence, which aims to enhance the digital infrastructure of the UK's defense supply chain.
Leidos' logistics expertise has supported recent defense operations in Europe, Afghanistan, Ukraine, Sudan, Mali, and Turkey, demonstrating its ability to deliver under diverse and challenging conditions. The company emphasizes the critical nature of logistics in both historical and modern military operations, drawing inspiration from the meticulous planning and execution that made D-Day successful.
Leidos (NYSE: LDOS) has secured a $476 million contract from NASA to continue providing cargo mission support for the International Space Station (ISS) and Artemis program. The contract spans a base period of two years, with operations primarily conducted at Leidos' Webster, Texas facilities. This contract includes engineering, maintenance, operations support, and hardware development to ensure mission success. Leidos has been a critical partner for NASA since 2004, supporting over 160 ISS missions. The company is known for innovations like the Exploration Potable Water Dispenser (xPWD), which improves living conditions in space.
Leidos (NYSE: LDOS), a Fortune 500 company, has been awarded the Medicaid Enterprise Systems Integrator contract by North Dakota Health and Human Services. Announced on July 9, 2024, the contract involves transitioning North Dakota's existing Medicaid Management Information Systems to a modern, integrated, and secure modular system. Liz Porter, President of Leidos Health & Civil Sector, highlighted that the modernization will enhance healthcare experiences for patients, providers, and administrators. The project aims to improve health outcomes and ensure efficient and economical Medicaid program management. Leidos will utilize its expertise in technology modernization to deliver tailored solutions that support data-driven decision-making. The modernization effort will involve optimizing data management, ensuring interoperability, and executing a seamless system transition.
Leidos (NYSE: LDOS), a FORTUNE 500® innovation company, has scheduled its second quarter 2024 earnings conference call for July 30, 2024, at 8 a.m. (ET). The financial results for the period ending June 28, 2024, will be discussed during this call. A press release detailing the quarterly earnings will be issued prior to the call on the same day.
The live and replay audio broadcast, along with presentation materials and supplemental information, will be available on the Leidos Investor Relations website. An archived version of the webcast will remain accessible until July 30, 2025.
Hawaii Energy has been awarded the ENERGY STAR Partner of the Year Award for Energy Efficiency Program Delivery by the U.S. Environmental Protection Agency. Administered by Leidos, the program supports Hawaii's goal of achieving 100% clean energy by 2045. Notable achievements include promoting ENERGY STAR Portfolio Manager for benchmarking, encouraging the adoption of ENERGY STAR certified refrigerators and freezers with over 4,700 rebates issued, and increasing sales of certified heat pump water heaters to over 1,000 units through strategic marketing. Additionally, partnerships with local startups have aided lower-income residents in rural areas. Leidos has a 30-year history of providing high-quality energy efficiency solutions and services to utilities nationwide.
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.
Leidos has been selected by the Air Force Armament Directorate (EB) and the Defense Innovation Unit (DIU) to prototype an enterprise test vehicle (ETV). This vehicle is intended to demonstrate modularity for subsystem upgrades and serve as a basis for mass production. Leidos' ETV technology merges expertise from their GBU-69 Small Glide Munition and X-61 Gremlins UAS projects. The initial flight demonstrations are expected to occur within seven months, with the best prototypes moving forward for further development. Leidos was one of four companies chosen from over 100 applicants.
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