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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.

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