TSA Awards Leidos Follow-On Hazmat Services Contract

Rhea-AI Summary

Leidos (NYSE:LDOS) has secured a follow-on prime contract with the Transportation Security Administration (TSA) valued at approximately $55 million. This contract extends their role in hazardous materials management and disposal across over 430 airports in the U.S., including Alaska and Hawaii. It includes a nine-month base period and four optional one-year periods. Leidos will ensure compliance with regulations involving hazardous waste, including training, audits, and emergency response.

Positive

• Contract valued at approximately $55 million enhances Leidos' revenue stability.
• Continuation of established relationship with TSA after 18 years of service.
• Provides regulatory support for hazardous materials at over 430 airports.

Negative

• None.

RESTON, Va., Oct. 25, 2022 /PRNewswire/ -- Leidos (NYSE:LDOS), a FORTUNE® 500 science and technology leader, has been awarded a follow-on prime contract by the Transportation Security Administration (TSA) to continue providing hazardous materials (Hazmat) management and disposal services at more than 430 federalized airports. The single-award, firm fixed-price contract holds an approximate value of $55 million. It includes a nine-month base period of performance followed by four one-year option periods. Work will be performed in airports across the continental U.S., Alaska, Hawaii, and all U.S. territories.

"For more than 18 years, Leidos has supported the TSA in meeting the complex regulatory compliance requirements associated with the disposal of hazardous waste in all states and territories," said Eric Freeman, Leidos Senior Vice President and Integrated Missions Operation Manager. "We are proud to continue performing this important work while protecting our nation's transportation systems and the traveling public."

Under the contract, Leidos will provide regulatory support to ensure compliance with federal, state and local regulations associated with the onsite management, transportation, and disposition of hazardous materials and waste. This includes compliance assistance visits of airport operations, development of standard operating procedures, due diligence audits of treatment, storage and disposal facilities, management and operation of the Leidos-developed online documentation and recordkeeping system (HazOUT^®), emergency and spill response support, and the development and execution of training programs.

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. The company's 44,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, 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
duenasml@leidos.com                                             

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

Victor Melara
(703) 431-4612
victor.a.melara@leidos.com

 

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SOURCE Leidos

FAQ

What is the value of the new TSA contract awarded to Leidos (LDOS)?

The new TSA contract awarded to Leidos is valued at approximately $55 million.

How long is the TSA contract awarded to Leidos (LDOS)?

The TSA contract includes a nine-month base period followed by four one-year option periods.

Which airports will Leidos (LDOS) serve under the TSA contract?

Leidos will provide services at more than 430 federalized airports across the continental U.S., Alaska, Hawaii, and all U.S. territories.

What services will Leidos (LDOS) provide under the TSA contract?

Leidos will provide hazardous waste management, regulatory support, compliance audits, and training programs under the TSA contract.

How long has Leidos (LDOS) been working with the TSA?

Leidos has supported the TSA for more than 18 years.