Leidos Holdings, Inc. earnings overview

LDOS FY2026 Q1 · Calendar Q2 2026

Leidos Holdings, Inc.

Leidos reported Q1 FY2026 revenue of $4.4B (up 4% YoY) and adjusted EBITDA margin of 14%, beating consensus on both lines. EPS of $3.13 exceeded the $2.90 estimate by 7.9%, and revenue of $4.4B topped the $4.28B estimate by 2.8%. Management raised full-year 2026 guidance for revenue, non-GAAP EPS, and operating cash flow, driven by the rapid two-month close of the Entrust acquisition and major contract wins including the AGM-190A missile and Seahawk MUSV programs. Despite the beat-and-raise, shares fell 8.6% on the report session with 2.5x normal volume and drifted an additional 9.4% lower subsequently. Investors focused on management's flagged Q2 revenue and margin trough, profitability pressure from fixed-price defense programs, and uncertainty around the $350M capex ramp. The stock now trades at $112.41, near the low end of analyst targets.