Leidos Holdings, Inc. · LDOS · Next earnings

Leidos Holdings, Inc. reports Tuesday, Nov 3, 2026

LDOS reports before market open with consensus EPS at $3.00 and revenue at $4.72B. Last quarter: Leidos Q1 Beat and Raise Overshadowed by Q2 Dip and Fixed-Price Margin Concerns

Reports Before market open44 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $3.00 Calendar consensus
Consensus revenue $4.72B Calendar consensus
Report date Nov 3, 2026 Tuesday, date estimated
Session Before market open 44 days away

Where LDOS left off: FY2026 Q1

Full report

Leidos Q1 Beat and Raise Overshadowed by Q2 Dip and Fixed-Price Margin Concerns

EPS surprise +7.9% Reported $3.13 vs $2.90
Revenue surprise +2.8% Reported $4.40B vs $4.28B
Stock move -7.8% Event window
Subsequent drift -9.4% Up to 20 sessions

Management raised 2026 guidance for revenue, non-GAAP EPS, and operating cash flow, building on the prior quarter's initial outlook of modest revenue growth (up to 4%), mid-13% EBITDA margin, and EPS of $12.05-$12.45. Q1's 14% EBITDA margin came in above the full-year target. However, management explicitly flagged Q2 as an expected low point for revenue and margin before a back-half recovery, driven by fixed-price defense program dynamics.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Dependence on federal defense and health contracts and possible budgetary constraints
  • Potential margin pressure from fixed-price programs and a projected Q2 revenue dip
  • Integration risk related to recent acquisitions and joint-venture execution
  • Capital-expenditure timing uncertainty, especially if projected spending does not materialize
  • Regulatory and clearance requirements for high-security missions

Questions analysts left open

  • Expected low point in revenue and margin for Q2
  • Extent of profitability impact from fixed-price defense programs
  • CapEx spending trajectory versus the $350M annual target
  • Sustainability of health segment margins amid fixed-price contracts
  • Competitive landscape for maritime unmanned surface vehicles

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Recent LDOS quarters

All LDOS earnings
-7.8%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.