logo
Plus   Neg
Share
Email

Leidos Q4 Earnings Beat Estimates, Full-year Outlook Falls Short Of The Street View-Quick Facts

Leidos Holdings, Inc. (LDOS) reported fourth-quarter net income of $197 million or $1.37 per share compared with $181 million or $1.26 per share in the same quarter a year ago.

Excluding items, earnings on an adjusted basis were $1.63,  that beat the average estimate of analysts polled by Thomson Reuters at $1.61 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter increased 10.1% year-over-year to $3.25 billion. The consensus estimate was for $3.39 billion. Covid-19 was adversely impacted the revenue in the quarter by about $12 million.

"The full extent of the impact of the COVID-19 pandemic on our operational and financial performance, including our ability to execute on programs in the expected timeframe, will depend on future developments, including the duration and spread of the pandemic and the distribution and efficacy of vaccines, all of which are uncertain and cannot be predicted," the company said.

Looking forward to the fiscal year 2021, the company sees revenues to be in the range of $13.7 billion to $14.1 billion and adjusted EPS to be between $6.15 and $6.45. Analysts expect the company to report earnings of $6.47 per share on revenue of $24.39 billion for the period.

Also, Leidos said it has entered into an agreement to acquire Gibbs & Cox, Inc., full-service independent engineering and design firm specializing in naval architecture and marine engineering, for $380 million in cash.

The transaction is expected to close in the second quarter of fiscal year 2021.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walmart Inc. has launched a nationwide drive to boost COVID-19 vaccination rates by reaching out to more residents in vulnerable communities. The retail giant will organize a series of community events at 43 locations in 18 states to administer the COVID-19 vaccine. Walmart said it plans to continue these new events over the next several weeks as vaccine allocations allow. Pfizer Inc. (PFE) and OPKO Health Inc. (OPK) announced Friday that the European Medicines Agency or EMA has validated for review the Marketing Authorization Application for somatrogon. Pfizer expects a decision from the European Commission in 2022. The company said somatrogon is a long-acting recombinant... German telecom giant Deutsche Telekom AG reported Friday strong growth in fourth-quarter profit mainly driven by T-Mobile US results following the takeover of the competitor Sprint. Looking ahead for fiscal 2021, the company projects higher adjusted EBITDA AL, a key earnings metric.
Follow RTT