Leidos Holdings, Inc. - LDOS STOCK NEWS

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.

Leidos has successfully completed two significant reviews—conceptual design and system requirements—for the Air Force Research Lab's (AFRL) Mayhem hypersonic system. These reviews, conducted within a digital engineering environment, demonstrate advanced designs and technologies for high-speed systems.

Utilizing a System Design Agent (SDA) construct, Leidos coordinated a team of 15 industry and academic entities, including Calspan, Draper, and Kratos Defense & Security Solutions. This collaboration facilitated modular architectures and government data rights, also fostering a workforce pipeline through the University of Michigan's Aerospace department.

Despite facing temporary funding challenges, Leidos remains committed to advancing hypersonic technologies through AFRL's Expendable Hypersonic Multi-Mission Platform Indefinite Delivery Indefinite Quantity (IDIQ) contract.

Leidos (NYSE: LDOS) will participate in the Stifel 2024 Cross Sector Insight Conference in Boston, MA. The event will feature a 'fireside chat' with CFO Chris Cage on June 5, 2024, from 9:10 a.m. to 9:40 a.m. ET. The 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 innovation company focusing on national security and health, with a global workforce of 47,000. The company reported annual revenues of approximately $15.4 billion for the fiscal year ending on December 29, 2023.

Leidos (NYSE: LDOS) and Elroy Air will demonstrate an autonomous Medium Aerial Resupply Vehicle – Expeditionary Logistics (MARV-EL) prototype for the U.S. Marine Corps in July 2024. This initiative, approved by the Navy and Marine Small Tactical Unmanned Aircraft Systems program office, is part of a contract to develop and test an uncrewed aircraft system for autonomous resupply missions. The demonstration will feature Elroy Air's Chaparral system at the U.S. Army Yuma Proving Grounds in Arizona. The Chaparral is a hybrid-electric vertical take-off and landing aircraft designed for efficient autonomous operations. The MARV-EL aims to provide logistics support to Marines in challenging environments. Leidos reported $15.4 billion in revenue in 2023, and Elroy Air is backed by significant venture capital and strategic investments.

Leidos, a technology innovator, secured a $631 million contract from the US Army. The DIABLO program positions Leidos as a key mission equipment provider for the Army for the next decade. The contract entails developing, acquiring, and supporting aerial intelligence, surveillance, and reconnaissance sensors and systems. Leidos' platform-agnostic solutions focus on interoperability and adaptability for enhanced battlespace awareness.

Leidos, a Fortune 500 innovation leader, secured a $206 million contract from the National Geospatial-Intelligence Agency to modernize geospatial processing. The contract, named Maru, aims to enhance efficiency and interoperability over a five-year period. Leidos will develop, sustain, and deploy analytical capabilities for geospatial processing, supporting NGA's day-to-day operations.

Leidos Holdings, Inc. reported strong financial results for the first quarter of fiscal year 2024, with revenues of $4.0 billion, up 7% year-over-year. Net income was $283 million, with EPS of $2.07. Adjusted EBITDA was $490 million, and non-GAAP diluted EPS was $2.29, showing significant growth. Cash flows from operations were $63 million, and net bookings were $3.7 billion. Leidos raised its guidance for FY24, expecting profitable growth and increased performance.