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Acquisitions Propel Leidos To Record Third Quarter Growth, Company Sees Strong 2021

By Cal Biesecker

Monday, November 2nd, 2020

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Acquisitions Propel Leidos To Record Third Quarter Growth, Company Sees Strong 2021

Leidos Chairman and CEO Roger Krone. Photo: Leidos

Leidos [LDOS] on Monday posted record sales driven mainly by two acquisitions earlier this year and the company mustered a slight increase in organic growth, overcoming headwinds related to the COVID-19 pandemic. The company also said that if some program wins that were protested are ultimately resolved in its favor, which it expects, organic growth in 2021 will reach double-digits. Net income in the third quarter was relatively flat, $163 million, $1.13 earnings per share (EPS), versus $162 million ($1.11…

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