Leidos Holdings Stock Price, News & Analysis

Leidos Holdings, Inc. (NYSE: LDOS) announced the terms for a cash tender offer for its outstanding 2.950% Senior Notes due 2023. The offer is set to expire at 5:00 p.m. on February 23, 2023. Each $1,000 of the 2023 Notes validly tendered will receive cash consideration of $995.77, along with accrued interest since the last payment date of November 15, 2022. The Tender Offer is $500 million in size and is contingent on the successful completion of a new senior notes offering to cover repurchases. The company emphasized the need for note holders to review the Offer Documents carefully.

Leidos (NYSE:LDOS) has been awarded a contract for technology upgrades at London Luton Airport, one of the UK's busiest airports, which served over 13 million passengers in 2022. This project involves managing subcontractors and installing security systems, including 12 ClearScan™ cabin baggage scanners and ProPassage™ automated tray return systems, enhancing security while improving passenger experience. The work has commenced, with the first checkpoints expected to open to the public in Q4 2023. This initiative is part of Leidos' strategy to provide integrated security solutions that adapt to future operational needs.

Leidos (NYSE:LDOS) has secured a contract with the Transportation Security Administration (TSA) to enhance its Pro:Vision® Advanced Imaging Technology (AIT) systems across over 1,000 airport checkpoints with new AI algorithms. This upgrade aims to bolster threat detection capabilities while significantly reducing false alarms that complicate the passenger screening process. The software improvement reflects ongoing collaboration with TSA, facilitating enhanced security measures against evolving threats. The upgrade process is expected to extend over several months, enhancing both traveler experience and security efficiency.

Leidos Holdings, Inc. (NYSE:LDOS), a FORTUNE 500 company, has initiated a cash tender offer to purchase any outstanding 2.950% Senior Notes due 2023, totaling $500 million. The offer, which is set to expire on February 23, 2023, will allow holders to receive a purchase price determined by a fixed spread plus the yield of a U.S. Treasury Reference Security. Holders can also obtain accrued and unpaid interest. The completion of the tender offer is contingent upon successful financing via a new senior notes offering. BofA Securities and Citigroup are the dealer managers for this offer.

Leidos Holdings, Inc. (NYSE: LDOS) reported strong financial results for Q4 2022 and the full fiscal year, with revenues of $3.7 billion for the quarter (up 6% YoY) and $14.4 billion for the year (up 5% YoY). Diluted EPS was $1.28 for Q4 (up 4% YoY), but down 6% for the full year at $4.96. The company achieved an adjusted EBITDA of $397 million in Q4, marking an 11% increase YoY. Leidos anticipates FY23 revenue growth with a guidance range of $14.7 to $15.1 billion. Key contracts awarded included a $334 million hypersonic project and an IT support services contract valued at $1.5 billion.

Leidos Holdings, Inc. (NYSE: LDOS) has declared a quarterly cash dividend of $0.36 per share, payable on March 31, 2023. This dividend will benefit stockholders of record as of the close of business on March 15, 2023. The company, headquartered in Reston, Virginia, reported annual revenues of approximately $13.7 billion for the fiscal year ending December 31, 2021. Leidos is recognized as a leader in technology, engineering, and science solutions, focusing on defense, intelligence, civil, and health markets.

Leidos, a leader in technology and engineering solutions, will participate in Citi's 2023 Global Industrial Tech and Mobility Conference on February 22, 2023, from 1:00 p.m. to 1:40 p.m. ET in Miami, FL. Chief Financial Officer Chris Cage will lead a question and answer session during the event. A live audio webcast of this session will be available on the Leidos Investor Relations website, with a replay accessible for 30 days post-event. Leidos reported annual revenues of approximately $13.7 billion for the fiscal year ending December 31, 2021.

On February 7, 2023, Leidos (NYSE:LDOS) announced the deployment of its ClearScan™ computed tomography (CT) scanner at Frankfurt Airport (FRA), marking a significant advancement in airport security. This initiative, led by Fraport, aims to enhance passenger processing amid rising travel demands and staff shortages. The ClearScan technology utilizes advanced explosives detection algorithms, allowing passengers to keep approved electronics and liquids in their bags, thereby reducing wait times. Leidos continues to support global airports in modernizing security operations with this innovative technology, which has already seen successful implementations in other major cities.

Leidos Partnership for Defense Health successfully deployed the MHS GENESIS electronic health record system to 11 Military Treatment Facilities, benefiting an estimated 12,000 clinicians across several states including Connecticut and Virginia.

This deployment is part of a larger initiative, with the system now operational in over 2,200 locations and serving approximately 6.1 million DOD beneficiaries. The program remains on track to complete all continental U.S. deployments by the end of the calendar year, enhancing clinical outcomes and leveraging best practices.