Leidos HoldingsNYSE: LDOS

Leidos (LDOS) shares have begun to rise and could keep increasing soon, based on positive changes in earnings forecasts.

RESTON, Va., Oct. 30, 2024 /PRNewswire/ -- Leidos (NYSE:LDOS) has announced a new contract to offer essential supply support for the weapons systems that ensure the U.S. Navy and Marine Corps are prepared for their missions.

Thanks to new defense contracts, Leidos has just reported impressive results that exceeded expectations.

LDOS has seen a 6.7% increase in its revenues for the third quarter compared to the same time last year. The company now anticipates that its revenues for 2024 will be between $16.35 billion and $16.45 billion, which is an increase from the previous estimate of $16.10 billion to $16.40 billion.

Leidos Holdings, Inc. (NYSE:LDOS) will hold its Q3 2024 Earnings Conference Call on October 29, 2024, at 8:00 AM ET. The call will feature company representatives including Stuart Davis from Investor Relations, CEO Tom Bell, and CFO Chris Cage. Various analysts from firms like Baird, Jefferies, and Goldman Sachs will also participate in the discussion.

While the revenue and earnings per share (EPS) for Leidos (LDOS) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.

Leidos (LDOS) reported quarterly earnings of $2.93 per share, which is higher than the Zacks Consensus Estimate of $1.96 per share. This is an increase compared to earnings of $2.03 per share from the same period last year.

Leidos Holdings, Inc. announced its financial results for the third quarter of fiscal year 2024, reporting revenues of $4.2 billion, which is a 7% increase compared to the previous year. The company achieved a net income of $362 million, translating to $2.68 per diluted share, and an adjusted EBITDA of $596 million with a margin of 14.2%. Additionally, they reported cash flows from operations of $656 million and free cash flow of $633 million, along with net bookings of $8.1 billion.

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