Leidos misses quarterly revenue estimates on government shutdown impact

Reuters
02/17
Leidos misses quarterly revenue estimates on government shutdown impact

Feb 17 (Reuters) - Defense contractor Leidos Holdings LDOS.N reported fourth-quarter revenue below Wall Street estimates, as the six-week long U.S. government shutdown last year weighed on the firm's orders.

The shutdown, the longest in the country's history, ended in November after severely disrupting government operations and weighing on contractors such as Leidos, which provides IT, weapons and other services to federal agencies.

Shares of Leidos, which also supplies air traffic control systems to the Federal Aviation Administration, fell 1.6% in premarket trading.

Last month, defense supplier L3Harris Technologies LHX.N also flagged a hit from the shutdown, largely in its space systems business.

Leidos' revenue during the fourth quarter came in at $4.21 billion, down 3.6% from last year, and lower than analysts' estimates of $4.31 billion, according to data compiled by LSEG.

Results also took a hit from a 9.3% drop in sales in its health and civil segment, which provides electronic health record systems to both the Department of Defense and Veteran Affairs hospitals.

On an adjusted basis, however, the Reston, Virginia-based company's fourth-quarter profit per share of $2.76 beat expectations of $2.61, helped by a 160-basis point expansion in its adjusted core profit margin and increased cost controls.

Leidos forecast 2026 adjusted profit between $12.05 and $12.45 per share, the midpoint of which is 4 cents lower than analysts' estimates of $12.29.

(Reporting by Aishwarya Jain in Bengaluru; Editing by Devika Syamnath)

((Aishwarya.Jain@thomsonreuters.com;))

應版權方要求,你需要登入查看該內容

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10