Leidos Holdings Stock Price, News & Analysis

Leidos Holdings, Inc. (NYSE: LDOS) has successfully completed the acquisition of Gibbs & Cox, Inc. for approximately $380 million in cash. The acquisition allows Gibbs & Cox to operate as a wholly-owned subsidiary under Leidos' maritime systems division, enhancing Leidos' capability to provide engineering solutions to the US Navy and foreign navies. The move is expected to strengthen Leidos' position in the growing maritime undersea, autonomous, and cybersecurity sectors, leveraging Gibbs & Cox's expertise in naval architecture and design.

Leidos Holdings, Inc. (NYSE: LDOS) has successfully acquired Gibbs & Cox, Inc. for approximately $380 million in cash. This acquisition enhances Leidos' maritime capabilities, allowing it to offer broader engineering solutions to the US Navy and international navies. Gibbs & Cox will operate as a wholly owned subsidiary and is known as the largest independent ship design firm in the U.S., specializing in naval architecture and marine engineering. The merger signifies Leidos' commitment to innovation and growth in the maritime sector.

Leidos (NYSE:LDOS) was awarded a spot on the Defense Intelligence Agency's (DIA) Solutions for the Information Technology Enterprise III (SITE III) contract, valued at $12.6 billion. This 10-year multiple-award contract allows Leidos to support the DIA and compete for related task orders, addressing evolving IT requirements critical for U.S. security. Leidos will deliver comprehensive IT support services and contribute to national security missions globally.

Leidos (NYSE: LDOS) will participate in the Goldman Sachs Industrials and Materials Conference 2021 on May 11, 2021, at 10:30 a.m. ET. The CFO, Jim Reagan, will engage in a question and answer 'fireside chat'. A live audio webcast will be available via the Leidos Investor Relations website, with a replay accessible for one year post-event. Leidos reported revenues of approximately $12.30 billion for the fiscal year ending January 1, 2021, and employs 39,000 individuals.

Leidos Holdings, Inc. (NYSE: LDOS) reported Q1 2021 revenues of $3.32 billion, a 14.7% increase from Q1 2020. Organic growth was 8.9% after accounting for acquisitions. Operating income rose by 60.4% to $308 million, with an operating margin increase from 6.6%% to 9.3%%. Diluted EPS surged to $1.42 from $0.80. Notable new contracts included a $1 billion award for military counseling services. The company revised fiscal 2021 guidance, projecting revenues unchanged at $13.7 billion to $14.1 billion and raised non-GAAP EPS guidance to $6.35 to $6.65.

Leidos (NYSE: LDOS) announced the appointment of Christopher Cage as Chief Financial Officer, effective July 5, 2021. Cage, currently the SVP and Chief Accounting Officer, succeeds James Reagan, who is retiring after six years of service. Cage has been with Leidos since 1999, holding various financial roles, and is recognized for his deep understanding of the company's operations. Leidos reported approximately $12.30 billion in revenue for the fiscal year ended January 1, 2021, and aims to maintain its growth trajectory under Cage's leadership.

Leidos Holdings, Inc. (NYSE: LDOS) has declared a quarterly cash dividend of $0.34 per share. This dividend will be paid on June 30, 2021 to stockholders on record by the close of business on June 15, 2021. Leidos, a leader in information technology and engineering with approximately $12.30 billion in annual revenues, employs 39,000 individuals to support various government and commercial missions.

Leidos (NYSE: LDOS) received the 2021 Public Sector SI Partner of the Year Award from Splunk for outstanding performance, especially in creating telehealth dashboards for the U.S. Department of Veterans Affairs during the COVID-19 pandemic. The dashboards supported a ten-fold increase in telehealth usage by analyzing over 72 million daily events, significantly reducing connection errors from 1,000 to under 10 per day. This award reflects Leidos' commitment to innovation and customer success, solidifying its position as a leading Systems Integrator in the public sector.

Leidos (NYSE:LDOS) has been awarded a prime contract by U.S. Customs and Border Protection (CBP) valued at $480 million for the provision of Multi-Energy Portal (MEP) systems. This contract spans a base period of five years, with options extending to ten years. The MEP systems will be integrated in Vista, California, enhancing non-intrusive inspections at U.S. ports. The technology will assist in screening over 22 million containers annually, improving detection of contraband and enhancing operational efficiency for CBP.