Plus   Neg

Leidos Cuts 2020 Outlook - Quick Facts

Leidos Holdings Inc. (LDOS) said it cut its fiscal year 2020 outlook, as a result of the company's year-to-date performance and updated expectations.

The company lowered its annual non-GAAP earnings per share outlook to a range of $5.00 to $5.30, from the prior estimation of $5.30 to $5.65. Analysts polled by Thomson Reuters expect the company to report earnings of $5.44 per share for fiscal year 2020. Analysts' estimates typically exclude special items.

The company now projects annual revenues to be in the range of $12.5 billion to $12.9 billion, compared to the prior outlook of $12.6 billion to $13.0 billion. Analysts expect revenues of $12.68 billion for fiscal year 2020.

The company's updated forward guidance reflects the currently expected impacts related to COVID-19 and the acquisition of L3 Harris' security detection and automation businesses.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Volkswagen Group were gaining around 3 percent in German trading after the automotive giant Thursday reported market recovery in the third quarter with improved deliveries in the month of September. For the first nine months of fiscal 2020, the company, meanwhile reported sharply lower earnings with weak revenues and sales volume. Comcast Corp. on Thursday reported a 37 percent decline in profit for the third quarter from last year, hurt primarily by revenue decline at NBCUniversal. Both adjusted earnings per share and quarterly revenues topped analysts' expectations. The company also declared a quarterly dividend. In the pre-market trade, CMCSA is trading at $42.83, up $0.85 or 2.02 percent. Regeneron announced positive results from its late stage COVID-19 outpatient trial, indicating that its antibody cocktail therapy significantly reduced virus levels and need for further medical attention. The trial results showed that investigational antibody cocktail, REGN-COV2, met the primary and key secondary endpoints.
Follow RTT