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
The U.S. Securities and Exchange Commission is investigating the circumstances around Eastman Kodak Co.'s (KODK) announcement of a $765 million government loan to make ingredients for Covid-19 drugs, the Wall Street Journal reported citing people familiar with the matter. The National Retail Federation or NRF said that conflicting economic data amid a resurgence in coronavirus cases has made it difficult to predict how steadily the U.S. economic recovery will continue. NRF Chief Economist Jack Kleinhenz noted that based on quarterly and monthly data, the U.S. economic recovery is continuing despite the elevated COVID-19 cases. Ford Motor Company (F) announced that Jim Hackett plans to retire as President and CEO. He will continue as a special advisor to the company through March of 2021. The company has named Jim Farley as new president and CEO. He will join the board of directors, effective Oct. 1. Farley joined Ford in...
Follow RTT