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Leidos Holdings Q1 Profit Down, But Beats Estimates; Backs Annual Outlook Above View - Update

(Adds Outlook)

Leidos Holdings, Inc. (LDOS) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $175 million, or $1.25 per share. This compares with $205 million, or $1.42 per share, in last year's first quarter.

Excluding items, Leidos Holdings, Inc. reported adjusted earnings of $221 million or $1.58 per share for the period.

Analysts on average had expected the company to earn $1.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.1% to $3.49 billion from $3.32 billion last year.

Outlook:

Looking forward, for the full year, Leidos reaffirmed its earnings and revenue guidance. The company is still expecting revenues of $13.9 billion - $14.3 billion and adjusted earnings of $6.10 - $6.50 a share.

Analysts on average, polled by Thomson-Reuters expect the company to report earnings of $6.5 a share on revenues of $14.11 billion for the full year.

Leidos Holdings, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $175 Mln. vs. $205 Mln. last year.
-EPS (Q1): $1.25 vs. $1.42 last year.
-Analyst Estimates: $1.50
-Revenue (Q1): $3.49 Bln vs. $3.32 Bln last year.

-Guidance:
Full year EPS guidance: $6.10 - $6.50
Full year revenue guidance: $13.9 - $14.3 Bln

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