Every 8-K that Leidos Holdings, Inc. (LDOS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow LDOS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LDOS filings page.
Leidos Holdings reported second-quarter fiscal 2026 results with revenues of $4.56 billion, up 7% year-over-year, including 4% organic growth, led by demand in defense tech, energy, air traffic management and intelligence support. GAAP net income was $356 million and diluted EPS $2.81, both down as the company absorbed $29 million of acquisition and restructuring costs and other items.
On a non-GAAP basis, net income was $413 million and diluted EPS $3.26, up 2% year-over-year, while adjusted EBITDA was $631 million with a 13.8% margin, below last year’s 15.2% that benefited from one-time gains. Operating cash flow was strong at $793 million, driving free cash flow of $761 million and high operating and free cash flow conversion ratios.
Leidos booked $4.9 billion of net awards for a book-to-bill ratio of 1.1, ending the quarter with total backlog of $48.7 billion, including $10.2 billion funded. Management raised full-year 2026 guidance for revenue to $18.20–$18.40 billion, non-GAAP EPS to $12.20–$12.50, and operating cash flows to approximately $1.85 billion.
Leidos Holdings, Inc. reported the results of its May 1, 2026 annual stockholder meeting. Stockholders approved the 2026 Omnibus Incentive Plan and the 2026 Employee Stock Purchase Plan, both previously approved by the board, enabling continued use of equity and stock purchase programs.
All nominated directors were elected, with most receiving over 90 million votes in favor; for example, Thomas A. Bell received 92,671,357 votes for versus 1,216,775 against. Stockholders also approved, on a non-binding basis, executive compensation, with 88,904,849 votes for and 4,449,801 against, and ratified Deloitte & Touche LLP as independent auditor with 97,307,718 votes for.
Leidos Holdings reported first-quarter 2026 revenue of $4.4 billion, up 4% year-over-year, with organic growth of 3%. Net income was $335 million, or $2.56 per diluted share, down 8%, mainly due to $39 million of acquisition and joint-venture related costs.
On a non-GAAP basis, net income rose to $408 million and diluted EPS to $3.13, both up 4–5%. Adjusted EBITDA was $614 million with a 14.0% margin. The company closed the Entrust acquisition, announced a security products joint venture, generated $301 million in operating cash flow, and increased full-year 2026 guidance for revenue, non-GAAP EPS, and operating cash flow.
Leidos Holdings is reshaping its portfolio by forming a new joint venture with Altaris-owned Analogic that combines Leidos’ Security Enterprise Solutions and Industrial Automation businesses with Analogic’s imaging and detection operations. Leidos will contribute subsidiaries holding these assets and receive 41.5% of the JV’s equity, while Altaris affiliates will own 58.5%.
The deal contributes about 1,500 Leidos employees and $625 million in projected 2026 revenue into the JV, which will operate under the Analogic brand and focus on global security screening technologies, including AI-native and 3D imaging solutions. Closing is targeted for the second half of 2026, subject to regulatory approvals, completion of a pre-closing restructuring, and new debt financing at the JV level.
Leidos Holdings, Inc., through its subsidiary Leidos, Inc., has completed its acquisition of KENE Parent, Inc., known as ENTRUST Solutions Group, for $2,400,000,000 in cash under a previously announced Stock Purchase Agreement.
The deal transfers all issued and outstanding Entrust shares to Leidos, with the price subject to customary cash, debt, expense and net working capital adjustments. ENTRUST adds more than 3,100 professionals focused on electric grid engineering and natural gas infrastructure and effectively doubles Leidos’ presence in the energy infrastructure market.
Leidos highlights that ENTRUST broadens its power delivery engineering capabilities, expands its base of utility customers, and supports the energy growth pillar of its NorthStar 2030 strategy. Leidos reported approximately $17.2 billion in annual revenue for the fiscal year ended January 2, 2026.
Leidos Holdings’ wholly owned subsidiary, Leidos, Inc., issued and sold $600 million of 4.100% senior notes due 2029 and $800 million of 5.000% senior notes due 2036, raising estimated net proceeds of about $1,387 million.
The notes are senior unsecured obligations of Leidos, Inc. and are guaranteed by Leidos Holdings, Inc. The company plans to use the proceeds to fund a portion of the consideration for the proposed Entrust Acquisition, and may temporarily hold the funds for general corporate purposes or short‑term investments. The notes feature optional redemption, a change‑of‑control repurchase at 101% of principal, and a special mandatory redemption at 101% if the Entrust Acquisition is not completed by the specified deadline or is abandoned.
Leidos Holdings, Inc. amended and restated its existing credit agreement, increasing the aggregate commitments under its revolving credit facility from $1,000,000,000 to $1,500,000,000. The maturity date of the revolver is now five years after the February 12, 2026 restatement effective date.
The company reduced the unused commitment fee to a ratings-based range of 0.08% to 0.20% per annum, compared with 0.09% to 0.25% per annum previously, and removed a 0.10% per annum credit spread adjustment on revolving borrowings. As of the restatement date, there were no borrowings outstanding under the revolving credit facility, which remains available for working capital and general corporate purposes.
No changes were made to the maturity, principal amount or pricing of the existing term loan facility, and the covenants in the amended credit agreement are described as substantially similar to those in the prior agreement, subject to certain modifications.
Leidos Holdings reported solid 2025 results with higher earnings and cash generation despite revenue headwinds from an extra 2024 work week and a six-week 2025 government shutdown. Revenue reached $17.17 billion, up 3%, while net income climbed to $1.46 billion and diluted EPS to $11.14, up 21% year over year. Adjusted EBITDA rose to $2.42 billion with a 14.1% margin, and non-GAAP diluted EPS increased to $11.99, up 17%.
Cash generation was a highlight: full-year operating cash flow was $1.75 billion and free cash flow $1.63 billion, a 26% increase and 104% conversion. In Q4 alone, operating cash flow was $495 million and free cash flow $452 million, with 127% conversion, supporting $305 million of share repurchases and $1.63 per-share dividends in 2025.
Leidos reported $17.5 billion of 2025 net bookings and year-end backlog of $49.0 billion, including $9.7 billion funded, underpinned by major awards such as a five-year $2.2 billion Air Base Air Defense contract and a six-year $455 million Air Force cloud award, plus positions on large IDIQ vehicles with ceiling values of $151 billion and $24.5 billion.
The company agreed to acquire power design firm Entrust for $2.4 billion, aiming to expand its utility customer base, and the board declared a $0.43 per-share dividend payable March 31, 2026. For fiscal 2026, Leidos guided to revenue of $17.5–$17.9 billion, mid‑13% adjusted EBITDA margins, non-GAAP diluted EPS of $12.05–$12.45, and about $1.75 billion of operating cash flow.
Leidos Holdings, Inc. announced that its subsidiary Leidos, Inc. has signed a Stock Purchase Agreement to acquire all outstanding shares of Entrust from KENE Holdings, L.P. for a base purchase price of $2,400,000,000 in cash, subject to customary adjustments for cash, debt, transaction expenses and net working capital.
The transaction is expected to close in the second quarter of 2026, conditioned on antitrust clearance under the Hart-Scott-Rodino Act, accuracy of representations and warranties, compliance with covenants, and the absence of a material adverse effect on Entrust. The agreement may be terminated if closing has not occurred by August 14, 2026 or in certain other specified circumstances.
To support financing, Leidos and its subsidiary obtained a Bridge Commitment Letter from Citigroup Global Markets Inc. for a senior unsecured 364-day bridge credit facility of $1.4 billion, available in a single draw to fund the acquisition alongside other available funds. The bridge facility would bear interest at Term SOFR plus a ratings-based margin initially ranging from 1.00% to 1.50%, with an initial applicable margin of 1.25% for SOFR borrowings and step-ups over time.
Leidos Holdings (LDOS) furnished a press release announcing financial results for its third fiscal quarter ended October 3, 2025. The release is included as Exhibit 99.1.
Management will discuss operations and results on an earnings conference call at 8:00 a.m. Eastern on November 4, 2025, with a live audio webcast and supplemental presentation available via the Investor Relations site at investors.leidos.com. The information in this item and Exhibit 99.1 is furnished, not filed, under the Exchange Act.